Canadian High Income Equity Fund

  • Management Style
    Active
  • Closing Price (Jul 17, 2024)
    $6.98
  • NAV (Jul 11, 2024)
    $6.95
  • Distribution Rate (Jul 17, 2024)
    6.88%
  • Management Fee
    1.25%
  • Total Assets (Jun 30, 2024)
    $8 Million

Why Invest?

  • The Investment Manager believes that high-income common equities in Canada will continue to outperform non-dividend-paying common equities
  • The Investment Manager believes that investors will continue to place a premium on these companies due to (i) strong cash flows, (ii) the discipline that a high dividend rate places on management, and (iii) investor demand for high levels of income
  • Investment Manager, Bloom Investment Counsel, Inc. specializes in high income equity investments with over 30 years of experience

Investment Objectives

To achieve a high level of monthly cash distributions and the opportunity for capital appreciation by investing in a high income equity portfolio, consisting primarily of dividend paying Canadian equities.

This Fund is for Investors who are:

  • Seeking capital appreciation
  • Seeking income
  • Comfortable with equity risk

FUND FACTS

  • Ticker
    CIQ.UN
  • CUSIP
    136012200
  • Outstanding (Jul 17, 2024)
    1,072,760
  • Inception Date (CAD Hedged)
    February 18, 2010
  • Manager/Portfolio Manager
    Brompton Funds Limited
  • Auditor
    PricewaterhouseCoopers LLP
  • Currency
    CAD
  • Custodian
    CIBC Mellon Trust Company
  • Transfer Agent
    TSX Trust Company
  • Eligibility
    All registered and non-registered accounts
  • Annual Redemption Date
    2nd last business day of September
  • Annual Redemption Notice Deadline
    Last business day of August
  • Leverage
    Up to 25% of total assets
  • Investment Manager
    Bloom Investment Counsel, Inc.

Portfolio Manager

Bloom Investment Counsel, Inc. (“Bloom”) was established in 1985 and specializes in the management of segregated investment portfolios for wealthy individuals, corporations, foundations, institutions and trusts. In addition to its conventional investment management business, Bloom currently manages specialty high-yield equity portfolios comprised of dividend-paying common equity securities, income trusts, and real estate investment trusts. Bloom currently provides investment management services to four TSX-listed, closed-end portfolios.

This webpage is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. The opinions contained in this report are solely those of Brompton Funds Limited (“BFL”) and are subject to change without notice. BFL makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, BFL assumes no responsibility for any losses or damages, whether direct or indirect which arise from the use of this information. BFL is under no obligation to update the information contained herein. The information should not be regarded as a substitute for the exercise of your own judgment. Please read the prospectus before investing.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds 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 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.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Information contained on this webpage was published at a specific point in time. Upon publication, it is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the funds, to the future outlook of the funds and anticipated events or results and may include statements regarding the future financial performance of the funds. 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.

Canadian High Income Equity Fund

Summary of Investment Portfolio as at June 30, 2024

Total Net Asset Value$7,448,000

Top 25 Holdings

% of Portfolio% of Net Asset Value
Province of Alberta Promissory Note 4.66% due July 25, 202410.7%
goeasy Ltd.6.4%
Keyera Corp.5.6%
TFI International Inc.5.6%
Transcontinental Inc.5.4%
Parkland Corporation5.3%
Premium Brands Holdings Corp.5.2%
Chemtrade Logistics Income Fund4.9%
Ag Growth International Inc.4.6%
Gibson Energy Inc.4.4%
Toronto-Dominion Bank4.2%
Enbridge Inc.4.2%
Manulife Financial Corporation3.9%
Sun Life Financial Inc.3.8%
Canadian Tire Corp.3.6%
Boralex Inc.3.6%
Superior Plus Corp.3.6%
Rogers Communications Inc.3.4%
Northland Power Inc.2.8%
Bank of Nova Scotia2.8%
Empire Co. Ltd.2.3%
Jamieson Wellness Inc.1.6%
Telus Corporation1.5%
Cash1.4%
Total100.8%
Performance NAV History

Growth of $10,000(1)

Annual Compound Returns(1)

YTD 1-Year 3-Year 5-Year 10-Year Since Inception(3) Since Inception(4) Since Inception(2)
Canadian High Income Equity Fund 5.7% 9.0% 1.2% 4.9% 0.7% 4.3%

Year-by-Year Returns

2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Canadian High Income Equity Fund 4.3% (6.4%) 18.5% (2.1%) 19.6% (20.5%) 2.0% 29.1% (12.9%) (2.3%) 11.9%

Returns for Canadian High Income Equity Fund are unaudited.

This webpage is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. The opinions contained in this report are solely those of Brompton Funds Limited (“BFL”) and are subject to change without notice. BFL makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, BFL assumes no responsibility for any losses or damages, whether direct or indirect which arise from the use of this information. BFL is under no obligation to update the information contained herein. The information should not be regarded as a substitute for the exercise of your own judgment. Please read the prospectus before investing.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds 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 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.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Information contained on this webpage was published at a specific point in time. Upon publication, it is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the funds, to the future outlook of the funds and anticipated events or results and may include statements regarding the future financial performance of the funds. 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.

Filter By Document Type:

Distributions

The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March as soon as possible following receipt of the information from the Fund’s individual holdings. 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.

DRIP

Investors may elect to automatically reinvest their distributions in additional units of the Fund and realize the benefits of compound growth. Any units acquired pursuant to the distribution reinvestment program qualify for the service fee. DRIP Plan

Tax Allocation

The following information is applicable to holders who, for the purposes of the Income Tax Act (Canada), are resident in Canada and hold trust units as capital property. If this is not the case, a tax advisor should be consulted.

Holders of trust units outside of a RRSP, DPSP, RRIF, RESP or TFSA should expect to receive a T3 slip from their investment dealer. T3 supplementary slips will indicate Other Income (Investment Income and Non-Investment Income) in Box 26, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Eligible Dividend Income in Box 49. Dividend income 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 and is reported in Box 42.

Select a year
Record Date Payment Date Capital Gains Eligible Dividend Foreign Non- Business Income Foreign Non- Business Income Tax Paid Investment Income Return of Capital Total Distribution
Jun 28, 2024 Jul 15, 2024 * * * * * * 0.04000
May 31, 2024 Jun 14, 2024 * * * * * * 0.04000
Apr 30, 2024 May 14, 2024 * * * * * * 0.04000
Mar 28, 2024 Apr 12, 2024 * * * * * * 0.04000
Feb 29, 2024 Mar 14, 2024 * * * * * * 0.04000
Jan 31, 2024 Feb 14, 2024 * * * * * * 0.04000
Dec 29, 2023 Jan 15, 2024 0.00000 0.00186 0.00000 0.00000 0.00000 0.03814 0.04000
Nov 30, 2023 Dec 14, 2023 0.00000 0.00186 0.00000 0.00000 0.00000 0.03814 0.04000
Oct 31, 2023 Nov 14, 2023 0.00000 0.00186 0.00000 0.00000 0.00000 0.03814 0.04000
Sep 30, 2023 Oct 16, 2023 0.00000 0.00186 0.00000 0.00000 0.00000 0.03814 0.04000
Aug 31, 2023 Sep 15, 2023 0.00000 0.00186 0.00000 0.00000 0.00000 0.03814 0.04000
Jul 31, 2023 Aug 15, 2023 0.00000 0.00186 0.00000 0.00000 0.00000 0.03814 0.04000
Total 0.00000 0.01116 0.00000 0.00000 0.00000 0.22884 0.48000
News Releases From to Search

Subscribe for updates.

Discover our innovative product suite, hear from our portfolio managers, and receive market updates.