NDX Growth & Income Fund
TSX : NGI.UN

NDX Growth & Income Fund

March 26, 2015 16:03 ET

NDX Growth & Income Fund Announces Annual Results

TORONTO, ONTARIO--(Marketwired - March 26, 2015) - (TSX:NGI.UN) NDX Growth & Income Fund (the "Fund") announces results of operations for the year ended December 31, 2014. Increase in net assets attributable to holders of Class A and Class U units amounted to C$3.5 million or C$0.99 per Class A unit and US$0.87 per Class U unit. Net assets attributable to holders of Class A and Class U units were C$32.7 million or C$9.79 per Class A unit and US$9.74 per Class U unit. Cash distributions of C$0.62 per Class A unit and US$0.62 per Class U unit were paid during the year.

The Fund's investment objectives are to provide Unitholders with (i) stable quarterly cash distributions; and (ii) the opportunity for capital appreciation.

The Fund will seek to achieve its investment objectives by investing in a portfolio consisting primarily of the top 20 highest yielding constituents of the NASDAQ-100 Index(SM). The NASDAQ 100 includes 100 of the largest U.S. domestic and international non-financial securities listed on the NASDAQ Stock Market based on market capitalization. Each top 20 security held in the portfolio shall at the time of purchase have a weighting of between 3% and 7% of the Fund's Net Asset Value and will continue to be held in the portfolio until it is reconstituted. The portfolio will be reconstituted annually on December 31st of each year to include the then top 20 highest yielding securities of the NASDAQ 100. In addition, up to 25% of the NAV of the Fund may be invested in securities of other issuers included in the NASDAQ 100.

The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting ("SSO"), to enhance the income generated by the portfolio and to reduce volatility. The Fund intends to strategically write covered call options from time to time, in respect of not more than 33 percent of the securities in its portfolio. In addition, the Fund may write covered put options (up to a maximum of 10 percent of the Fund's net asset value) in respect of securities in which it is permitted to invest.

The Funds investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. The Fund's Class A units are listed on the TSX under the symbol NGI.UN.

Selected Financial Information: ($ Millions)
Statement of Financial Position 2014
Assets C$ 33.3
Liabilities (0.6 )
Net Assets Attributable to Holders of Class A and Class U Units C$ 32.7
Statement of Comprehensive Income
Income C$ 4.4
Expenses (0.9 )
Increase in Net Assets Attributable to
Holders of Class A and Class U Units C$ 3.5

For further information, please contact your financial advisor, call our investor relations line at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • Strathbridge Asset Management Inc.
    Aaron Ho
    Vice-President, Finance
    416.681.3966; 1.800.725.7172

    Strathbridge Asset Management Inc.
    121 King Street West, Suite 2600
    Toronto, Ontario, M5H 3T9
    416.681.3966; 1.800.725.7172
    info@strathbridge.com
    www.strathbridge.com