NDX Growth & Income Fund

NDX Growth & Income Fund

August 28, 2014 16:03 ET

NDX Growth & Income Fund Announces Annual Results

TORONTO, ONTARIO--(Marketwired - Aug. 28, 2014) - NDX Growth & Income Fund (the "Fund") (TSX:NGI.UN) announces results for the six months ended June 30, 2014. Increase in net assets attributable to Holders of Class A and Class U units amounted to C$1.8 million or C$0.55 per Class A unit (US$0.52 per Class U unit). Net assets attributable to holders of Class A and Class U Units as at June 30, 2014 were C$32.0 million or C$9.66 per Class A unit (US$9.62 per Class U unit). Cash distributions of C$0.32 per Class A unit (US$0.32 per Class U unit) were paid during the period.

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 (portfolio constituents selected) on December 31st of each year to include the then top 20 highest yielding securities of the NASDAQ 100.

The Manager intends to strategically write covered call options from time to time, in respect of not more than 33% of the securities in the portfolio, in order to generate additional income above the distributions earned on the equity securities and to reduce the overall volatility of the portfolio.

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

Selected Financial Information: ($ Millions)
Statement of Net Assets
for the six months ended June 30, 2014 (Unaudited)
Income (including Net Gain on Investments) C$ 2.2
Expenses (0.4 )
Increase in Net Assets Attributable
to Holders of Class A and Class U Units C$ 1.8

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 or toll free at 1.800.725.7172

    Strathbridge Asset Management Inc.
    121 King Street West, Suite 2600
    Toronto, Ontario, M5H 3T9
    416.681.3966 or toll free at 1.800.725.7172