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| Closed-end Funds |
| ActivEnergy Income Fund |
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| The investment
objectives of ACTIVEnergy Income Fund (the “Fund”) are: (i) to pay
monthly distributions to unitholders; and (ii) to return at least the original
issue price of the units ($10.00 per unit) to unitholders upon termination of
the Fund, as well as enhance long-term total return through capital
appreciation of the Fund’s investment portfolio. In order to achieve the
Fund’s investment objectives, the net proceeds of the initial offering,
together with borrowings under the loan facility, have been invested by the
Fund in an actively managed portfolio of securities consisting primarily of oil
and gas royalty trusts supplemented by the common shares of North American
issuers operating in the oil and gas sector. In addition, the Fund can also
invest up to 40% of the portfolio in common stocks to provide further
diversification. |
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