Symphony Floating Rate Senior Loan Fund Files Final Base Shelf Prospectus
09 Mai 2022 - 4:41PM
(TSX: SSF.UN) Brompton Funds Limited (the
“Manager”) is pleased to announce that Symphony Floating Rate
Senior Loan Fund (the “Fund”) has filed a final short form base
shelf prospectus (the “Base Shelf Prospectus”) with the securities
commissions in each of the provinces and territories of Canada. The
Base Shelf Prospectus allows the Fund to offer and issue units of
the Fund for an aggregate offering amount of up to $300,000,000
during the 25-month period that the Base Shelf Prospectus remains
effective. The specific terms of any offering of units will be set
forth in the applicable prospectus supplement and may include the
number and class of units being offered, the offering price and any
other specific terms.
The Fund’s investment objectives are to provide
monthly distributions to unitholders, and to preserve capital. The
Fund seeks to achieve its investment objectives by investing the
property and assets of the Fund in an actively managed diversified
portfolio consisting primarily of short duration senior secured
floating rate corporate loans typically issued by non-investment
grade companies (“Senior Loans”). The Manager believes Senior Loans
offer a potentially higher level of income generation and lower
interest rate risk compared to traditional fixed income asset
classes.
The Fund offers a $0.51 per unit per annum
distribution on its class A units, paid monthly, which represents a
cash distribution rate of 6.2% per annum based on the May 6, 2022
TSX closing price. Class A units of the Fund are available for
purchase on the Toronto Stock Exchange under the ticker symbol
SSF.UN.
The Fund is permitted to invest in or use
derivatives and other instruments for hedging, leverage or other
purposes consistent with the investment objectives of the Fund,
subject to any investment restrictions.
The Fund employs leverage of up to 40% of its
total assets for the purposes of acquiring or obtaining exposure to
additional assets for the Fund’s portfolio and such other short
term funding purposes as may be determined by the Manager from time
to time and in accordance with Fund’s investment strategy. The Fund
may borrow at fixed or floating rates obtained either directly or
indirectly through hedging strategies. The primary sources of
leverage will be cash borrowings or total return swap arrangements
obtained from securities brokers/dealers or banks.
About Brompton Funds Founded in
2000, Brompton is an experienced investment fund manager with
income focused investment solutions including TSX traded closed-end
funds and exchange-traded funds. For further information, please
contact your investment advisor, call Brompton’s investor relations
line at 416-642-6000 (toll-free at 1-866-642-6001), email
info@bromptongroup.com or visit our website at
www.bromptongroup.com.
About Nuveen Asset
ManagementNuveen Asset Management, LLC, an affiliate of
Nuveen, LLC, is the sub-advisor for the Fund. Nuveen, the
investment manager of TIAA, offers a comprehensive range of
outcome-focused investment solutions designed to secure the
long-term financial goals of institutional and individual
investors. Nuveen has U.S.$1.2 trillion in assets under management
as of March 31, 2022 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
Annual Performance1 |
1-Yr |
3-Yr |
5-Yr |
10-Yr |
S.I.2 |
Symphony Floating Rate Senior Loan Fund – Class A |
7.5 |
% |
3.2 |
% |
3.5 |
% |
4.8 |
% |
5.3 |
% |
Symphony Floating Rate Senior Loan Fund – Class U |
7.3 |
% |
3.7 |
% |
3.9 |
% |
4.9 |
% |
5.2 |
% |
(1) Returns are for the periods ended April 30,
2022 and are unaudited. The table shows the Fund’s compound returns
for each period indicated.(2) Inception Date: November 1, 2011
You will usually pay brokerage fees to your
dealer if you purchase or sell units of the investment fund on the
Toronto Stock Exchange or other alternative Canadian trading system
(an “exchange”). If the units are purchased or sold on an exchange,
investors may pay more than the current net asset value when buying
units of the investment fund and may receive less than the current
net asset value when selling them.
There are ongoing fees and expenses associated
with owning units of an investment fund. An investment fund must
prepare disclosure documents that contain key information about the
Fund. You can find more detailed information about the Fund in the
public filings available at www.sedar.com. The indicated rates of
return are the historical annual compounded total returns including
changes in the unit value and reinvestment of all distributions and
do not take into account certain fees such as redemption costs or
income taxes payable by any securityholder that would have reduced
returns. Investment funds are not guaranteed, their values
change frequently and past performance may not be repeated. The
amount of distributions may fluctuate from month to month and there
can be no assurance that the Fund will make any distribution in
anyparticular month.
Certain statements contained in this news
release constitute forward-looking information within the meaning
of Canadian securities laws. Forward-looking information may relate
to matters disclosed in this press release and to other matters
identified in public filings relating to the Fund, to the future
outlook of the Fund and anticipated events or results and may
include statements regarding the future financial performance of
the Fund. In some cases, forward-looking information can be
identified by terms such as “may”, “will”, “should”, “expect”,
“plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”,
“potential”, “continue” or other similar expressions concerning
matters that are not historical facts. Actual results may vary from
such forward-looking information. Investors should not
place undue reliance on forward-looking statements. These
forward-looking statements are made as of the date hereof and we
assume no obligation to update or revise them to reflect new events
or circumstances.
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