Mulvihill Premium Yield Fund reports increase in net assets and distributions per unit

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

Mulvihill Premium Yield Fund (TSX: MPY) reports an increase in net assets for different unit classes as of June 30, 2024. Class I units saw a $0.91 million increase, Class F units rose by $0.92 million, Class A units increased by $0.55 million, and ETF units increased by $0.46 million. Distributions per unit were $0.33 for all unit classes during the period.

The fund aims to provide high quarterly income, long-term capital appreciation, and reduced portfolio volatility. It writes options to earn tax-efficient premiums, reduce volatility, and enhance total return. Investments will include securities from the S&P/TSX Composite Index and S&P 500 Index, using option writing strategies for tax-efficient yield.

Using a quantitative approach, the fund selects securities and employs various investment strategies, including derivative instruments, to generate income, reduce volatility, and protect capital. The goal is to achieve a 5 percent yield with additional capital growth potential. Mulvihill Capital Management Inc. manages the investment portfolio of the fund.

In the six months ended June 30, 2024, the fund reported income of $3.41 million, expenses of $0.56 million, resulting in an increase in net assets of $2.85 million attributable to holders of Class I, Class F, Class A, and ETF units.ETF units are listed on the Toronto Stock Exchange under the symbol MPY. For more information, contact Investor Relations at 416.681.3966 or visit www.mulvihill.com.



Read more at GlobeNewswire:: Mulvihill Premium Yield Fund Announces Semi-Annual Results