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| Closed-end Funds |
| Yieldplus Income Fund |
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| The investment
objectives of YIELDPLUS Income Fund (the “Fund”) are: (i) to pay
monthly distributions to unitholders, (ii) to return at least the original
issue price of the units ($10.00 per unit) to unitholders upon termination of
the Fund, and (iii) to enhance long-term total return through capital
appreciation of the investment portfolio. The net proceeds of the initial
offering together with draw-downs under the loan facility have been invested
such that at least 70% of the portfolio will be comprised of units of business
trusts, oil and gas royalty trusts, real estate investment trusts and power and
pipeline trusts. Up to 30% of the portfolio may be comprised of common stocks
primarily of companies listed on the Toronto Stock Exchange having a market
capitalization of at least $500 million. The ability of the Fund to invest in
common stocks provides an important tool for further diversification of the
portfolio. |
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