Home / product / Brompton Oil Split Corp.

Brompton Oil Split Corp.

Invest Now
  • Closing Price (Jan 18, 2019) $2.61
  • Distribution(1) $0.10
  • Distribution Rate(1) (Jan 19, 2019) 0.00%
  • Distribution Frequency Monthly
  • Management Style Active Covered Call Strategy
  • Management Fee 0.70%
  • NAV (Jan 17, 2019) $1.18
  • Total Assets (Dec 31, 2018) $33 Million
  • Closing Price (Jan 17, 2019) $9.40
  • Distribution $0.12500
  • Distribution Rate (Jan 19, 2019) 5.32%
  • Distribution Frequency Quarterly
  • NAV (Jan 17, 2019) $10.02
  • Total Assets (Dec 31, 2018) $33 Million

Why Invest?

  • Approximately equal-weight portfolio of common shares of at least 15 large-capitalization North American oil and gas issuers
  • Focus is primarily on large capitalization issuers with significant exposure to a potential rebound in oil prices
  • All portfolio securities are S&P/TSX Composite Index or S&P 500 Index constituents which have a market capitalization of at least $2 billion and pay a dividend
  • Attractive distributions on Class A and Preferred Shares
  • Potential for capital appreciation for Class A shares due to leveraged exposure to the Portfolio

Preferred Shares:

  • 5-year term, subject to extension for periods of up to five years, as determined by the board of directors
  • Quarterly cumulative preferred distributions (primarily eligible Canadian dividends)
  • Dividend resets at end-of-term extension, based on comparable market yields, without complicated reset formulas
  • Shareholder’s option to redeem at end-of-term, with no restrictions.

Class A Shares:

  • Monthly distributions (primarily return of capital)(1)
  • Opportunity for capital appreciation
  • Shareholder’s option to redeem at end-of-term, with no restrictions

FUND FACTS

  • Class A Shares Ticker
    OSP
  • Class A Shares CUSIP
    11222H101
  • Class A Shares Service Fee
    0.40%
  • Class A Shares Ouststanding (Jan 19, 2019)
    3,211,016
  • Preferred Share Ticker
    OSP.PR.A
  • Preferred Share Ouststanding (Jan 19, 2019)
    3,211,016
  • Maturity Date(2)
    March 31, 2020
  • Inception Date
    February 24, 2015
  • Currency
    CAD
  • Manager/Portfolio Manager
    Brompton Funds Limited
  • Auditor
    PricewaterhouseCoopers LLP
  • Custodian
    CIBC Mellon Trust Company
  • Transfer Agent
    TSX Trust Company
  • Eligibility
    All registered and non-registered accounts
  • Annual Concurrent Retraction Date
    Second last business day of March
  • Annual Retraction Notice Deadline
    10 business days prior to the second last business day March
  • Non-Concurrent Retraction Right Date
    March 31, 2020
  • Non-Concurrent Retraction Right Deadline
    February 28, 2020

Manager/Portfolio Manager

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with over $2 billion in assets under management. Brompton’s Portfolio Management team specializes in Canadian and global equity investments and is a leading manager of covered call writing strategies in Canada.

Brompton Oil Split Corp.

Summary of Investment Portfolio as at December 31, 2018

Total Net Asset Value$32,287,512.00

Holdings

% of Portfolio% of Net Asset Value
Chevron Corporation6.5%6.7%
Gibson Energy Inc.6.0%6.1%
ConocoPhillips5.7%5.8%
Occidental Petroleum Corporation5.6%5.8%
Pioneer Natural Resources Company5.6%5.7%
Cenovus Energy Inc.5.5%5.6%
Canadian Natural Resources Limited5.4%5.5%
EOG Resources Inc.5.4%5.5%
PrairieSky Royalty Ltd.5.3%5.4%
Suncor Energy Inc.5.2%5.3%
Helmerich & Payne Inc.5.1%5.2%
Anadarko Petroleum Corporation5.0%5.1%
Valero Energy Corporation4.9%5.0%
Enerplus Corporation4.8%4.9%
Vermilion Energy Inc.4.7%4.8%
Apache Corporation4.2%4.3%
Devon Energy Corporation4.0%4.1%
Hess Corporation4.0%4.1%
Crescent Point Energy Corp.3.5%3.6%
Encana Corporation3.3%3.3%
Cash and short-term investments0.3%0.3%
Total100%102.1%
Performance NAV History

Annual Compound Returns(1)

YTD1-Year3-YearSince Inception(2)
Brompton Oil Split Corp. - Class A(98.9%)(98.9%)(78.0%)(73.3%)
S&P/TSX Capped Energy Index(26.6%)(26.6%)(2.9%)(9.6%)
S&P/TSX Composite Index(8.9%)(8.9%)6.4%1.5%
Brompton Oil Split Corp. - Preferred 5.1%5.1%5.1%5.1%
S&P/TSX Preferred Share Index(7.9%)(7.9%)3.8%(0.1%)
Brompton Oil Split Corp. - Unit(30.7%)(30.7%)(9.7%) (13.4%)

Year-by-Year Returns

Since Inception(2)2018201720162015
Brompton Oil Split Corp. - Class A(73.3%) (98.9%)(37.8%)57.8%(42.3%)
Brompton Oil Split Corp. - Preferred5.1% 5.1% 5.1%5.1%4.3%
Brompton Oil Split Corp. - Unit(13.4%) (30.7%)(15.7%) 26.3%(22.2%)
S&P/TSX Capped Energy Index(9.6%) (26.6%)(10.6%)39.6% (25.7%)
S&P/TSX Composite Index1.5% (8.9%)9.1%21.1%(11.8%)

The tables show the past performance of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future. The information shown is based on Net Asset Value per Class A share and per unit, or the redemption price per Preferred share and assumes that distributions made by the Fund on the Class A shares, Preferred shares and units in the periods shown were reinvested (at Net Asset Value per Class A share and per unit, or the redemption price per Preferred share) in additional Class A shares, units and Preferred shares of the Fund.

The table shows the Fund’s compound return on a Class A share, Preferred share and unit since inception compared with the S&P/TSX Capped Energy Index (“Energy Index”) and the S&P/TSX Composite Index (“Composite Index”) and the S&P/TSX Preferred Share Index (“Preferred Share Index”). The Energy Index is derived from the Composite Index and tracks the performance of equity securities that are in the energy sector of the TSX. The Composite Index tracks the performance, on a market-weight basis, of a broad index of large-capitalization issuers listed on the TSX. . The Fund invests, on an approximately equal-weight basis, in a portfolio comprised of at least 15 large-capitalization North American oil and gas companies whichare in both the Energy Index and the Composite Index. Since the indices have more diversified portfolios, it is not expected that the Fund’s performance will mirror that of the indices. Further, the Energy Index and the Composite Index are calculated without the deduction of management fees and fund expenses, whereas the performance of the Fund is calculated after deducting such fees and expenses.

Returns for Brompton Oil Split Corp. are unaudited.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares 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 shares 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 share value and reinvestment of all distributions and does 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.

Filter By Document Type:

Distributions

Distributions from the Fund may have tax benefits which result in higher after tax cash flow than if the income had been earned as interest income.

It is expected that the distributions on the Class A shares will mainly be comprised of capital gains or return of capital and over time are expected to include a portion of dividend income. Distributions on the Preferred shares are expected to be mainly characterized as dividend payments, which receive the preferential dividend tax treatment and to a lesser extent return of capital. For the purposes of the Income Tax (Canada) and any similar provincial legislation, to the extent that distributions on either the Class A or Preferred shares are characterized as dividend payments, the Company designates any and all dividends paid on both its Class A and Preferred shares as “eligible dividends” unless the Company indicates otherwise.

The annual breakdown of distributions for tax purposes will be provided to shareholders annually in February. This information will also be posted on the website as soon as it is available.

This information is of a general nature only and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.

Tax Allocation

The following information is applicable to holders who, for the purpose of the Income Tax Act (Canada), are resident in Canada and hold shares as capital property outside of an RRSP, RRIF or DPSP. Shareholders should receive a T5 slip from their investment dealer providing this information.

T5 supplementary slips will indicate Capital Gains Dividends in Box 18 and Actual Amount of Eligible Dividends in Box 24. Dividend incomes is subject to the standard gross-up and federal dividend tax credit rules.

The return of capital component is a non-taxable amount that serves to reduce the adjusted cost base of the Fund units.

Select a year

Class A Share

Record Date Payment Date Return of Capital Total Distribution
Jul 31, 2018 Aug 15, 2018 0.00000 0.10000
May 31, 2018 Jun 14, 2018 0.00000 0.10000
Apr 30, 2018 May 14, 2018 0.00000 0.10000
Jan 31, 2018 Feb 14, 2018 0.00000 0.10000
Nov 30, 2017 Dec 14, 2017 0.10000 0.10000
May 31, 2017 Jun 14, 2017 0.10000 0.10000
Apr 28, 2017 May 12, 2017 0.10000 0.10000
Mar 31, 2017 Apr 17, 2017 0.10000 0.10000
Feb 28, 2017 Mar 14, 2017 0.10000 0.10000
Jan 31, 2017 Feb 14, 2017 0.10000 0.10000
Dec 30, 2016 Jan 16, 2017 0.10000 0.10000
Nov 30, 2016 Dec 14, 2016 0.10000 0.10000
Total 0.80000 1.20000
News Releases From to Search