* Canadian Investment Funds Standards Committee
** Investment grade means Pfd 3/P-3 or higher
*** Investment grade means BBB- or higher
****The portfolio is expected to generate income from dividends, interest and option writing income , which after deduction of expenses, will be distributed by the Fund to unitholders. The targeted monthly distribution amount is reset at the beginning of each calendar year to provide an approximate yield of 5% per annum based on the NAV per Series A Unit as at December 31 of the prior year. Assuming the expected level of income is received, the portfolio would not be required to appreciate. If the level of income is less than the amount necessary to meet the distribution, the Manager may either pay out a lower distribution or supplement the amount needed through net realized capital gains from the portfolio or may return a portion of the capital of the Fund to unitholders in which case the distribution would not have been fully funded as the net asset value would be reduced. Distributions are reinvested automatically in additional units of the Fund. No commissions are payable upon automatic reinvestment of distributions.
† Effective April 30, 2018, the Fund’s benchmarks were changed from a broad-based benchmark, the JP Morgan US Aggregate Bond Total Return Index, and a blended benchmark (consisting of 45% MSCI World Index, 15% S&P/TSX Preferred Share Index, 10% iShares 1-5 Year Laddered Corporate Bond Index ETF, 10% Markit iBoxx US$ Liquid Investment Grade Index, 10% Morningstar Emerging Markets Corporate Bond Index, 5% Markit iBoxx US$ Liquid High Yield Index, and 5% JPMorgan Emerging Markets Bond Index) to a blended benchmark of 60% MSCI Total Return World Index and 40% JP Morgan US Aggregate Bond Total Return Index. This change in benchmark is to align better our approach to rating the Fund’s risk and return with its underlying investments.
1 Other Net Assets (Liabilities) refers to all other assets and liabilities in the Fund excluding portfolio investments.
2 Where the Fund holds less than 25 long and short holdings, all investments have been disclosed. There may be other assets and liabilities which are not included, and therefore the summary does not add up to 100%.
3 Effective date of management fee rate is April 20, 2018. Generally available through dealers who have entered into a Portland Series F Dealer Agreement.
Risk tolerance measures the degree of uncertainty that an investor can handle regarding fluctuations in the value of their portfolio. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this Fund is a suitable investment for them.
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 unit value and reinvestment of all distributions [dividends] and does not take into account sales, redemption, distributions or optional charges or income taxes payable by any securityholder in respect of a participating fund 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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