BROMPTON MUTUAL FUNDS LIMITED ANNOUNCES TERMINATION OF BROMPTON RESOURCE CLASS
Toronto, May 24, 2019 – Brompton Mutual Funds Limited (the “Corporation”) announces that it intends to terminate and wind-up Brompton Resource Class (the “Fund”) on or about July 31, 2019 (the “Termination Date”). The Corporation believes it is in the best interests of the shareholders to terminate the Fund based on its size and due to restrictions imposed by the Federal government on flow-through investing within the energy sector.
The Corporation will continue to facilitate redemptions, transfers and switches from the Fund prior to the Termination Date but will no longer accept new purchases of shares.
Series A, Series B and Series F shares of the Fund will be redeemed for cash based on the net asset value per share of each series as at the close of business on the Termination Date.
The Corporation intends to provide each shareholder of the Fund with notice of the termination.
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.
(1) Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Fund’s prospectus before investing which is available from SEDAR at www.sedar.com. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements above constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy Shares nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
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Brompton Resource Fund
Summary of Investment Portfolio as at May 31, 2019
Total Net Asset Value$3,170,547.00
% of Portfolio
% of Net Asset Value
Metals and mining
Cash and short-term investments
Total Investment Portfolio
Other net liabilities
Top 10 Holdings
% of Portfolio
% of Net Asset Value
Cash and short-term investments
InPlay Oil Corp.
Osisko Mining Inc.
Cenovus Energy Inc.
Agnico Eagle Mines Limited
Leucrotta Exploration Inc.
Tourmaline Oil Corp.
Denison Mines Corp.
Vermilion Energy Inc.
Whitecap Resources Inc.
1)The investment portfolio may change due to ongoing portfolio transactions of the investment fund. Quarterly updates are available on the Fund's website at www.bromptongroup.com within 60 days of each quarter end.
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 unit and assumes that cash distributions made by the in the periods shown were reinvested at Net Asset Value per unit in additional units of the Fund.
The table shows the Fund’s compound returns for each period indicated compared with the S&P Composite Index (“Composite Index”), and a blended index (“Blended Index”) which is comprised of 50% of the S&P/TSX Capped Energy Index (“Energy Index”) and 50% of the S&P/TSX Capped Materials Index (“Materials Index”). The Composite Index tracks the performance, on a market weight basis, of a broad index of large-capitalization issuers on the TSX and provides the Fund with a comparison of the Fund to the general equity market. The Energy Index and the Materials Index are sub-indices of the Composite Index that track the performance of companies in the relevant industry. The Fund is actively managed and invests in resource issuers represented by the sub-indices. The performance of the indices are calculated without the deduction of management fees and fund expenses, whereas the performance of the Fund is calculated after deducting such expenses and fees.
(1) From inception to June 30, 2019.
(2) Inception date December 31, 2004.
(3) Inception date June 18, 2010.
(4) Inception date September 10, 2010.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. 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 sales, redemption, distribution or optional charges or income tax payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
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Investor’s T5 Tax Slips for distributions paid in the 2012 tax year will be mailed to investors on or before February 28, 2013.
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.
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.
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Class F Unit
(1) The distribution was automatically reinvested in additional units. Immediately following the issuance, the units of the Fund were automatically consolidated and, as a result, unitholders held the same number of units after the distribution as they held before it. The adjusted cost base of a holder’s units would be increased by the amount of the distributions reinvested in units.
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