Top 10 Split Trust sees decrease in net assets due to expenses, with quarterly cash distributions.

From GlobeNewswire: 2024-08-30 08:00:00

Top 10 Split Trust announces a decrease in net assets, with $0.94 million in assets as of June 30, 2024. Cash distributions of $0.39 per Preferred Security and $0.09 per Capital Unit were paid out during the period.

The Fund’s investment objectives include providing capital appreciation for Capital Units and paying quarterly distributions. It invests exclusively in shares of the six largest Canadian banks and four largest Canadian life insurance companies.

Utilizing an active covered call writing strategy, the Fund aims to enhance income and reduce volatility in its investment portfolio. It may also write cash covered put options on eligible securities.

Managed by Mulvihill Capital Management Inc., the Fund’s Capital Units and Preferred Securities are listed on the Toronto Stock Exchange under symbols TXT.UN and TXT.PR.A respectively.

Financial information for the Fund shows a gain of $0.23 million, offset by expenses of $0.16 million, resulting in a decrease in net assets of $0.13 million for Capital Unit holders.

For further information, contact Investor Relations at 416.681.3966, toll-free at 1.800.725.7172, or visit www.mulvihill.com. Commissions, trailing commissions, and fees associated with investment funds should be considered before investing.



Read more at GlobeNewswire:: Announces Semi-Annual Results