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European Dividend Growth Fund

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  • Closing Price (Mar 21, 2019) $9.15
  • Distribution $0.0416
  • Distribution Rate (Mar 21, 2019) 5.46%
  • Distribution Frequency Monthly
  • Management Style Active with Covered Calls
  • Management Fee 1.25%
  • NAV (Mar 20, 2019) $9.33
  • Total Assets (Feb 28, 2019) $40 Million

Why Invest?

  • Equal-weight portfolio of equity securities of large capitalization European Dividend Growth Companies
  • Monthly distributions with capital appreciation potential
  • Selective covered call strategy to enhance portfolio income and lower volatility
  • European companies with a history of growing dividends have outperformed the broader market over time.

Why Europe?

  • Economic growth in Europe is improving
  • Improving economic growth is expected to lead to earnings growth for European companies
  • Manager believes European equities are currently attractively valued
  • Diversification benefits: Europe provides an opportunity for Canadians to diversify by investing in equity sectors that are underrepresented in the Canadian market

This Fund is for Investors who are:

  • Seeking capital appreciation
  • Seeking enhanced income and lower volatility through covered call strategies
  • Comfortable with equity risk

FUND FACTS

  • Ticker
    EDGF.UN
  • CUSIP
    29876T106
  • Outstanding (Mar 21, 2019)
    4,406,952
  • Inception Date
    July 21, 2017
  • 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 Redemption Date
    2nd last business day of July
  • Annual Redemption Notice Deadline
    Last business day of June

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.

European Dividend Growth Fund

Summary of Investment Portfolio as at December 31, 2018

Total Net Asset Value$36,331,557.00

Top 10 Holdings

% of Portfolio% of Net Asset Value
AstraZeneca PLC5.1%5.2%
Novartis AG5.1%5.2%
Sanofi SA4.7%4.9%
Medtronic PLC4.7%4.9%
Unilever PLC4.6%4.7%
Adidas AG4.6%4.7%
Diageo PLC4.5%4.6%
Danone SA4.5%4.6%
AON PLC4.4%4.5%
LVMH Moët Hennessy Louis Vuitton SE4.3%4.4%
Total46.5%47.7%
Performance NAV History

Annual Compound Returns(1)

YTD 1-Year Since Inception(2)
European Dividend Growth Fund 11.2% 0.4% 1.6%
STOXX Europe 600 Index 10.4% (1.8%) (1.8%)
S&P/TSX Composite Index 12.2% 6.9% 6.1%

Year-by Year Returns

Since Inception(2) 2018 20173
European Dividend Growth Fund 1.6% (11.1%) 3.9%
STOXX Europe 600 Index (1.8%) (13.2%) 2.4%
S&P/TSX Composite Index 6.1% (8.9%) 8.2%

The following table shows 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 distributions made by the Fund on its units in the period shown were reinvested at Net Asset Value per unit in additional units of the Fund.

The table shows the Fund’s compound return since inception compared with the STOXX Europe 600 Index and the S&P/TSX Composite Index (‘‘Composite Index’’). The Fund invests in large-capitalization European equity securities that are selected from the STOXX Europe 600 Index. The STOXX Europe 600 Index is a subset of the STOXX Global 1800 Index, representing large, mid and small capitalization companies across 17 European developed countries. The Composite Index tracks the performance, on a market weight basis, of a broad index of large-capitalization issuers listed on the TSX. Since the Fund is actively managed, the sector weightings may differ from those of the indices. The benchmark indices 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 European Dividend Growth Fund are unaudited.

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

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Distributions

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

It is expected that distributions to unitholders will primarily be characterized as combination of capital gains, return of capital and foreign income but may also include ordinary dividends.

The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March. 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.

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 units as capital property outside of an RRSP, DPSP, RRIF, RESP or TFSA. Unitholders should receive a T3 slip from their investment dealer providing this information.

T3 supplementary slips for holdings of the Fund 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 Fund units and is reported on the T3 supplementary slips in Box 42.

The following table outlines the breakdown in the Fund’s distributions declared on a per unit basis

Select a year
Record Date Payment Date Return of Capital Foreign Non- Business Income Foreign Non- Business Income Tax Paid Capital Gains Total Distribution
Mar 29, 2019 Apr 12, 2019 0.00000 0.00000 0.00000 0.00000 0.04160
Feb 28, 2019 Mar 14, 2019 0.00000 0.00000 0.00000 0.00000 0.04160
Jan 31, 2019 Feb 14, 2019 0.00000 0.00000 0.00000 0.00000 0.04160
Dec 31, 2018 Jan 15, 2019 0.04160 0.00000 0.00000 0.00000 0.04160
Nov 30, 2018 Dec 14, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
Oct 31, 2018 Nov 14, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
Sep 28, 2018 Oct 15, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
Aug 31, 2018 Sep 17, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
Jul 31, 2018 Aug 15, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
Jun 29, 2018 Jul 16, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
May 31, 2018 Jun 14, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
Apr 30, 2018 May 14, 2018 0.04160 0.00000 0.00000 0.00000 0.04160
Total 0.37440 0.00000 0.00000 0.00000 0.49920
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