Premier Canadian Income Fund

TSX : PCU.UN


August 28, 2014 16:03 ET

Premier Canadian Income Fund Announces Semi-Annual Results

TORONTO, ONTARIO--(Marketwired - Aug. 28, 2014) - Premier Canadian Income Fund (the "Fund") (TSX:PCU.UN) announces results for the six months ended June 30, 2014. Increase in net assets attributable to holders of units amounted to $0.3 million or $0.19 per unit. Net assets attributable to holders of units as at June 30, 2014 were $5.6 million or $3.11 per unit. Cash distributions to unitholders in the amount of $0.2 million or $0.10 per unit were paid during the period.

The Fund's investment objectives are (a) to maximize total returns for unitholders including both long-term appreciation in net asset value ("NAV") per unit and distributions; and (b) to pay unitholders monthly distributions in an amount targeted to be 6.5% per annum on the NAV of the Fund. The Fund will invest in a portfolio principally consisting of common shares selected from the Energy, Financial and Materials sectors of the S&P/TSX 60 Index. In addition, the Fund may invest up to 20% of its net assets in equity securities of issuers selected from the S&P/TSX Composite Index.

The Fund employs a proprietary strategy, Strathbridge Selective Overwriting ("SSO"), to enhance the income generated by the portfolio and to reduce volatility. In addition, the Fund may write cash covered put options in respect of securities in which it is permitted to invest.

The Fund's investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. Fund units are listed on Toronto Stock Exchange under the symbol PCU.UN.

Selected Financial Information: ($ Millions)
Statement of Comprehensive Income
For the six months ended June 30, 2014
(Unaudited)
Income (including Net Gain on Investments) $ 0.5
Expenses (0.2 )
Increase in Net Assets Attributable
to Holders of Units $ 0.3

For further information, please contact Investor Relations at 416.681.3966or 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 funds. 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 1.800.725.7172
    info@strathbridge.com
    www.strathbridge.com