Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd.

February 02, 2006 14:54 ET

diversiTrust'TM' Stable Income Fund Announces Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Feb. 2, 2006) - Goodman & Company, Investment Counsel Ltd. ("Goodman & Company"), the manager of diversiTrust™ Stable Income Fund (TSX:DTS.UN) (the "Fund"), announces a normal course issuer bid. In accordance with the terms of its initial public offering, the Fund intends to purchase, through the facilities of the TSX, up to 910,435 trust units of the Fund (the "Trust Units") representing approximately 10% of the public float. The public float of the Fund as of January 31, 2006 was 9,104,354 Trust Units.

The Trust Units may be purchased for cancellation commencing as at February 6, 2006 through to February 5, 2007 through the facilities of the TSX and may be purchased when the net asset value per Trust Unit exceeds its trading price. A Notice of Intention to Make a Normal Course Issuer Bid has been accepted by the TSX effective as of February 1, 2006.

The purpose of the normal course issuer bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per Trust Unit and the market price of the Trust Units. The Fund had 9,534,921 Trust Units issued and outstanding as of January 31, 2006. For the period February 6, 2005 to January 31, 2006, 557,855 Trust Units were purchased by the Fund under its normal course issuer bid at an average net asset value of $11.91 per Trust Unit (excluding commission charges).

The Fund is a TSX traded closed-end investment trust, which seeks to provide a stable monthly distribution through investment in a diversified portfolio of business, resource, real estate and utility trusts, high yield debt securities as well as other securities. As of January 31, 2006 the net asset value was $14.12 per Trust Unit and the closing trading price was $13.32 per Trust Unit (representing a discount of 5.67% when measured against the net asset value per Trust Unit).

Goodman & Company, the manager of the Fund, is a leader in the income trust market managing a broad range of core and specialized income trust funds including Dynamic Focus+ Diversified Income Trust Fund, Dynamic Focus+ Energy Income Trust Fund, Dynamic Focus+ Real Estate Fund, Dynamic Focus+ Resource Fund and Dynamic Focus+ Small Business Fund. Goodman & Company also manages diversiTrust™ Energy Income Fund (DTN.UN), diversiTrust™ Income Fund (DTF.UN), diversiTrust™ Income+ Fund (DTP.UN) and diversiYield™ Income Fund (DYI.UN), other TSX-listed closed-end investment trusts.

Goodman & Company is a leading Canadian investment firm tracing its portfolio management roots back nearly 50 years, with approximately $19 billion in assets under management. Goodman & Company, including Dynamic Funds™ and its affiliates, offers a wide range of wealth management solutions through registered financial advisors, including mutual funds, fee-based programs (Viscount and Marquis), limited partnerships (CMP and Canada Dominion), a labour-sponsored fund, hedge funds and high net-worth investment counsel (Goodman Private Wealth Management). Goodman & Company, Investment Counsel Ltd. is a subsidiary of Dundee Wealth Management Inc. (DW-TSX).

Contact Information

  • Goodman & Company, Investment Counsel Ltd.
    Customer Relations Centre
    1 (800)-268-8186
    www.diversifunds.com
    or
    Goodman & Company, Investment Counsel Ltd.
    Trevor Hampden
    Media Relations
    (416) 365-5002