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Brompton Global Healthcare Income & Growth ETF

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  • Closing Price (Oct 21, 2019) $9.12
  • Distribution $0.05
  • Distribution Rate (Oct 22, 2019) 6.52%
  • Distribution Frequency Monthly
  • Management Style Active with Covered Calls
  • Management Fee 0.75%
  • NAV (Oct 21, 2019) $9.10
  • Total Assets (Oct 22, 2019) $50 Million
  • Closing Price (Oct 21, 2019) $9.49
  • Distribution $0.05
  • Distribution Rate (Oct 22, 2019) 5.24%
  • Distribution Frequency Monthly
  • Management Style Active with Covered Calls
  • Management Fee 0.75%
  • NAV (Oct 21, 2019) $9.31

This ETF provides monthly distributions and the opportunity for capital gains through an investment in an actively managed portfolio of large-cap global Healthcare companies selected by Brompton, complemented by a proprietary covered call program. Our PM team first uses a top-down analysis to identify attractive sub-sectors. Rigorous fundamental analysis focuses the portfolio on 15 to 30 global Healthcare companies which offer a combination of growth and value characteristics. The PMs then actively set the level of covered call writing (up to a maximum of 33%), with the goal of optimizing distributable cash and total returns.

Why Invest In Healthcare?

  • Strong historical earnings growth and stable relative share performance
  • Under-represented sector in the Canadian equity market; global Healthcare equities provide diversification benefits
  • Long term trends are supportive of Healthcare equities

This ETF is for Investors who are:

  • Seeking stable monthly cash distributions
  • Seeking opportunity for capital appreciation and lower overall volatility of portfolio returns than would otherwise be experienced by owning securities of technology companies directly
  • Can handle the ups and downs of the stock market

FUND FACTS

  • Ticker (CAD Hedged)
    HIG
  • CUSIP (CAD Hedged)
    11222T105
  • Ouststanding (CAD Hedged) (Oct 22, 2019)
    5,557,692
  • Ticker (USD Unit)
    HIG.U
  • CUSIP (USD Unit)
    11222T204
  • Ouststanding (USD Unit) (Oct 22, 2019)
    87,500
  • Inception Date
    September 24, 2015
  • ETF Conversion Date
    April 3, 2018
  • MER(1)
    0.95%
  • 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
  • Risk Rating
    Medium
  • ESG Score(2)
    B+

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 Global Healthcare Income & Growth ETF

Summary of Investment Portfolio as at September 30, 2019

Total Net Asset Value$51,940,847.00

Holdings

% of Portfolio% of Net Asset Value
Zoetis Inc.5.8%5.8%
Danaher Corporation5.6%5.7%
Edwards LifeSciences Corp.5.3%5.4%
Steris PLC5.2%5.3%
Medtronic PLC.5.2%5.3%
Stryker Corp5.1%5.2%
Koninklijke Philips NV.5.1%5.1%
Thermo Fisher Scientific Inc.5.0%5.0%
Abbott Laboratories4.9%5.0%
Boston Scientific Corp4.7%4.7%
IQVIA Holdings Inc4.6%4.7%
AstraZeneca PLC4.6%4.6%
Becton Dickinson and Co4.5%4.6%
Novartis AG4.2%4.3%
Merck & Co Inc4.0%4.1%
Smith & Nephew PLC3.9%4.0%
Zimmer Biomet Holdings Inc3.7%3.7%
McKesson Corp3.6%3.7%
Humana Inc3.4%3.4%
UnitedHealth Group Inc3.0%3.0%
Johnson & Johnson2.9%2.9%
Cerner Corp1.7%1.8%
Illumina Inc1.6%1.6%
DexCom Inc1.6%1.6%
Cash and short-term investments0.8%0.8%
Total100%101.3%
Performance NAV History

Annual Compound Returns(1)

Annual Compound Returns YTD 1-Year 3-Year Since Inception(2)
Brompton Global Healthcare Income & Growth ETF 13.3% 2.9% 7.4% 6.3%
MSCI World Health Care Index 8.9% (1.3%) 8.6% 6.8%
S&P/TSX Composite Index 19.1% 7.1% 7.4% 8.9%

Year-by-Year Returns

2018 2017 2016 20153
Brompton Global Healthcare Income & Growth ETF 5.0% 11.2% (6.3%) 3.1%
MSCI World Health Care Index 3.0% 20.4% (6.3%) 4.0%
S&P/TSX Composite Index (8.9%) 9.1% 21.1% (1.5%)

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 following table shows the Fund’s compound return compared with the MSCI World Health Care Index (“Health Care Index”),  and the S&P/TSX Composite Index (‘‘Composite Index’’). The Health Care Index represents the healthcare industry group of the MSCI World Index. 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’s portfolio is expected to invest in 20 to 30, but no less than 20, healthcare companies. The Health Care Index contains a substantially larger number of companies. Further, 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 Brompton Global Healthcare Income & 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

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.

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 Investment Income in Box 26, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Dividend Income in Box 23 and 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.

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Class U Unit

Record Date Payment Date Return of Capital Capital Gains Total Distribution
Sep 30, 2019 Oct 15, 2019 0.00000 0.00000 0.05000
Aug 30, 2019 Sep 16, 2019 0.00000 0.00000 0.03226
Total 0.00000 0.00000 0.08226
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