Middlefield Funds
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TSX-Listed Funds
Compass Income Fund
Features & Benefits
Tax-Efficient Income
Depending on the characteristics of income received by the Fund, unitholders may receive a portion of the distributions as a return of capital under Canadian tax rules. The return of capital component reduces the adjusted cost base of the trust units for purposes of calculating capital gains tax when the units are sold. A portion of the distributions is deemed a return on capital and taxable as income.
Distribution Reinvestment Plan Available
Unitholders have the opportunity to elect to reinvest monthly cash distributions made by the Fund in additional units and to purchase additional units for cash through participation in the Distribution Reinvestment Plan. PDF Format
Distribution Enhancement
The Fund can utilize its loan facility when necessary to assist in earning distributable income, as well as effecting market purchases of units, maintaining liquidity and funding redemptions. The Fund can borrow up to an amount not exceeding 30% of the value of the assets within the portfolio.
TSX Listing The Fund's units can be bought and sold on the TSX under the symbol CMZ.un
Mandatory Market Purchase Program To enhance liquidity and provide market support for the units, the Fund will be obligated to purchase for cancellation any units offered in the market at the then prevailing market price if the price at which units are offered for sale is less than 95% of the Net Asset Value per Unit, subject to some limitations. See the Fund's prospectus for details.
Eligibility For Investment
The Fund's units are considered Canadian property for RRSPs, RRIFs, DPSPs and RESPs.
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