TORONTO, March 23, 2018 (GLOBE NEWSWIRE) -- (TSX:NGI.UN) NDX Growth & Income Fund (the “Fund”) announces results of operations for the year ended December 31, 2017. Increase in net assets attributable to holders of Class A amounted to C$2.94 million or C$2.00 per Class A unit. Increase in net assets attributable to holders of Class U units amounted to C$0.19 million or C$2.14 per Class U unit. As at December 31, 2017, net assets attributable to holders of Class A were C$12.88 million or C$8.92 per Class A unit; and net assets attributable to holders of Class U units were C$0.97 (US$0.77) million or C$11.74 (US$9.37) per Class U unit. Cash distributions of C$0.60 per Class A unit and US$0.60 per Class U unit were paid during the year.
The Fund’s investment objectives are to provide unitholders with (i) stable quarterly cash distributions; and (ii) the opportunity for capital appreciation.
To achieve its investment objectives, the Fund invests in an actively managed portfolio consisting of equity securities of any issuer included in the NASDAQ-100 IndexSM (the “NASDAQ 100”). The NASDAQ 100 includes 100 of the largest U.S. domestic and international non-financial securities listed on the NASDAQ Stock Market based on market capitalization. The Fund may invest in the equity securities of any one issuer up to 10% of the net asset value.
The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting (SSO), to enhance the income generated by the portfolio and to reduce volatility. The Fund intends to strategically write covered call options from time to time, in respect of the securities held in its portfolio.
The investment portfolio of the Fund is managed by its investment manager, Strathbridge Asset Management Inc. The Fund’s Class A units are listed on the TSX under the symbol NGI.UN. The Class U units are denominated in U.S. currency and do not trade on an exchange.
|Selected Financial Information: ($ Millions)|
|Statement of Financial Position||2017|
|As at December 31|
|Net Assets Attributable to Holders|
|of Class A and Class U Units||C$||13.85|
|Statement of Comprehensive Income|
|For the year ended December 31|
|Income (including Net Loss on Investments)||C$||3.52|
|Increase in Net Assets Attributable to Holders|
|of Class A and Class U Units||C$||3.13|
For further information, please contact your financial advisor, call our investor relations line at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.
|John Germain, Senior Vice-President & CFO||Strathbridge Asset Management Inc.|
121 King Street West
Toronto, Ontario, M5H 3T9
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Source:NDX Growth & Income Fund