March 21, 2014 16:03 ET
TORONTO, ONTARIO--(Marketwired - March 21, 2014) - Top 10 Canadian Financial Trust (the "Fund") (TSX:TCT.UN) announces results of operations for the year ended December 31, 2013. Net increase in net assets from operations amounted to $5.9 million or $2.51 per unit. Net assets were $21.9 million or $10.82 per unit, net of distributions to unitholders in the amount of $1.8 million or $0.76 per unit.
The Fund's investment objectives are to provide unitholders with a stable stream of quarterly cash distributions in an amount targeted to be 7.5% of the net asset value per unit and to return the net asset value per unit of $15.60 to unitholders upon termination of the Fund.
The Fund invests in the six largest Canadian banks and four largest Canadian life insurance companies by market capitalization, generally investing in not less than 5% and not more than 15% of the Fund's assets in each company.
The Fund employs a proprietary investment 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 TCT.UN.
Aaron Ho, Vice-President, Finance
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.
Strathbridge Asset Management Inc.Investor Relations416.681.3966; email@example.com
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