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Top 10 Canadian Financial Trust

 

TCT.UN

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Fund Overview

Overview

The Fund is a closed-end investment trust designed to provide unitholders with exposure to the six largest Canadian banks and four largest Canadian life insurance companies and utilizes Strathbridge’s proprietary SSO covered call writing strategy to enhance the income generated by the portfolio and to reduce volatility.

Rationale

These securities represent the top ten financial service companies in Canada and provide diversified exposure to the sector. The Fund is appropriate for those investors looking for exposure to Canada’s financial services sector while earning attractive distributions with lower volatility.

Distributions

Distributions are calculated and paid each calendar quarter based on 7.5% per annum of the net asset value of the Fund and are generally classified as a return of capital for tax purposes.

Portfolio

The Fund will invest not less than 5% and not more than 15% of the Trust’s assets in each of the following ten securities comprising the portfolio (Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Toronto-Dominion Bank, Great-West Lifeco Inc., Industrial Alliance Insurance and Financial Services Inc., Manulife Financial Corporation, Sun Life Financial Inc.).

Top 10 Holdings as of March 31, 2017
Holding Name % of NAV
ROYAL BANK OF CANADA      12.7%
BANK OF MONTREAL      12.3%
NATIONAL BANK OF CANADA      11.7%
CANADIAN IMPERIAL BANK OF COMMERCE      11.6%
THE BANK OF NOVA SCOTIA      9.2%
INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES INC.      8.9%
THE TORONTO-DOMINION BANK      8.1%
GREAT-WEST LIFECO INC.      7.9%
MANULIFE FINANCIAL CORPORATION      7.5%
SUN LIFE FINANCIAL INC.      7.0%
Sector Allocations

 

 

 Pricing
As of 06-22-2017
Current NAV for TCT.UN: $9.68
Market Price: $9.80
Last Traded: 06-21-2017 2:28pm
View Historical NAV  
 Quick Facts
Inception Date: 02-23-2000
Total Assets As of 03-31-2017: $17.13 mm
Management Fee: 1.1%
Service Fee: 0.3%
 Distributions & Tax
Current Distributions for TCT.UN: $0.18
Current Yield: 7.41%
View Historical Distributions  
 News
2017-05-29
TCT: Declares Quarterly Fund Distribution
2017-03-22
TCT: Announces Annual Results
2017-03-06
TCT: Declares Quarterly Fund Distribution
2016-12-05
TCT: Declares Quarterly Distribution
2016-09-06
TCT: Declares Quarterly Fund Distribution
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