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The purpose of this fund

An equally weighted portfolio of Canada's 'Big-Six' banks through Class A and Preferred shares issued by the corporation.

  • Equal weight exposure to Canada’s Big-Six banks through split share structure
  • Active covered-call writing strategy on up to 30% to enhance income and reduce volatility
  • Preferred Shares: attractive income stream with 6% coupon and high asset coverage ratio
  • Class A Shares: opportunity for greater upside participation relative to holding the portfolio directly

Equal weighted exposure to Canada’s Big-Six Banks enhanced with covered calls through a split share structure.

bmocibc
national bankrbc
scotiabanktd
Class A Shares:
  • To provide holders with regular monthly cash distributions targeting a yield of 8.0% per year (based on the issue price of the Class A Shares)
  • To provide holders the opportunity for capital appreciation.
Preferred Shares:
  • To provide holders with 6% fixed coupon cumulative preferential monthly cash distributions.
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FUND DETAILS

Class A Shares (BNK)
YIELD

5.02%

PREMIUM / DISCOUNT

-9.43%

MGMT FEE

0.75%

PRICE

$15.81

(2021-10-15)

NAV

$17.46

(2021-10-15)

Preferred Shares (BNK.PR.A)
YIELD

6.00%

PREMIUM / DISCOUNT

9.20%

MGMT FEE

0.75%

PRICE

$10.92

(2021-10-15)

NAV

$10.00

(2021-10-15)

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