Flaherty & Crumrine Provides Update on Flaherty & Crumrine Investment Grade Fixed Income Fund

TORONTO, ONTARIO--(Marketwired - May 5, 2017) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Investors and investment advisors are invited to listen to an update on Flaherty & Crumrine Investment Grade Fixed Income Fund (the "Fund") (TSX:FFI.UN) provided by Chad Conwell, EVP of Flaherty & Crumrine Incorporated. A link to the update recorded on May 3, 2017 has been posted to the Brompton Funds website at the following link:

www.bromptongroup.com/static/mp3/ffi_update_may2017.mp3

The Fund is rated P2-f (investment grade) by Standard & Poor's. The Fund's investment objectives are to provide unitholders with a stable stream of monthly distributions, to preserve the net asset value per unit and to enhance the total return per unit by actively managing the portfolio. To achieve these objectives, the Fund invests in a portfolio of fixed income securities consisting primarily of US-dollar-denominated corporate debt and preferred securities of North American issuers. All securities purchased by the Fund are rated investment grade at the time of investment. Substantially all of the US dollar foreign exchange exposure of the Fund's portfolio is hedged to the Canadian dollar.

The Fund has generated an annual compound return of 11.2% for the 5 years ending March 31, 2017 ¹. Its current regular distribution of $0.96 per unit per annum represents a cash distribution rate of 7.6% per annum based on the May 2, 2017 TSX closing price. The Fund also offers a distribution reinvestment plan ("DRIP") which provides unitholders with the ability to automatically reinvest their distributions and realize the benefits of compound growth of their investment. The Fund has paid out $14.78 per unit in cash distributions since inception through to March 31, 2017. The Fund is available for purchase on the Toronto Stock Exchange under the ticker symbol FFI.UN.

About Brompton Funds

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton's investment solutions include TSX traded funds, mutual funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

(1) See Standard Performance Data table below. Source: Brompton, Thomson Reuters, as at March 31, 2017

Flaherty & Crumrine Investment Grade Fixed Income Fund Performance to March 31, 2017	1 Yr		3 Yrs		5 Yrs		10 Yrs		Incep. (15/12/04)
Flaherty & Crumrine Investment Grade Fixed Income Fund (TSX:FFI.UN)	14.4	%	9.0	%	11.2	%	6.0	%	5.5	%
BofA Merrill Lynch 8% Hybrid Preferred Sec. Index	4.8	%	7.4	%	6.3	%	4.8	%	4.8	%
BofA Merrill Lynch 8% Capped Corp. US Capital Sec. Index	9.1	%	4.8	%	6.8	%	5.3	%	5.1	%

The securities offered have not been registered under the U.S. Securities Act of 1993, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an "exchange"). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.