CALGARY, Jan. 31, 2017 /CNW/ - Middlefield Group, on
behalf of YIELDPLUS Income Fund ("YIELDPLUS") announced
today a reminder on the merger into MINT Income Fund
("MINT") (TSX: MID.UN) (the "Merger").
YIELDPLUS is expected to be merged with MINT on or about
March 22, 2017, on a tax-deferred
basis and at no cost to unitholders.
In addition to MINT's well established track record, YIELDPLUS
unitholders are expected to benefit from:
- An increase in their monthly distributions of approximately
15%, based on the current relative net asset values of YIELDPLUS
and MINT;
- Lower fees as fixed costs will be distributed over a larger
asset base; and
- Enhanced liquidity due to the greater size of MINT versus
YIELDPLUS post-merger.
MINT – Celebrating 20 Years of Outperforming the
S&P/TSX Composite
|
Since
Inception
|
|
MINT Income
Fund (MID.UN)
|
9.3%
|
|
S&P/TSX Composite
Index
|
7.1%
|
|
Source:
Bloomberg, Middlefield. As at December 31, 2016. Figures reflect
annualized total returns, net of fees.
|
YIELDPLUS unitholders who do not wish to participate in the
Merger are reminded that the deadline to tender units for
redemption is February 21, 2017 for
the February 28, 2017 redemption
event. Surrendered units will be redeemed at a price equal to the
net asset value per unit.
Certain statements in this press release may be viewed as
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, intentions, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as "expects", "is expected", "anticipates", "plans",
"estimates" or "intends" (or negative or grammatical variations
thereof), or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved)
are not statements of historical fact and may be forward-looking
statements. There are no assurances the funds can fulfill such
forward-looking statements and the funds do not undertake any
obligation to update such statements. Such forward-looking
statements are only predictions; actual events or results may
differ materially as a result of risks facing one or more of the
funds, many of which are beyond the control of the funds.
SOURCE YIELDPLUS Income Fund