SAGE Income Fund is Middlefield's second closed-end investment trust. Middlefield acts as Advisor to the Trust, responsible for asset mix and security selection. SAGE is invested in a diversified portfolio of income trusts and high yielding debt securities, with emphasis on Royalty Trusts. The objectives of SAGE are to provide unitholders with a high level of sustainable income distributed quarterly over the life of the Fund. Quarterly distributions paid by SAGE provide an attractive cash-on-cash yield and are highly tax efficient