Company Details

Directors and Officers

The following are the names, office(s) held and principal occupations of the directors and officers of the Trustee:

Brian D. McChesney
President, Chief Executive Officer and Director
(Corporate Director)

Stephen D. Pearce
Chief Financial Officer and Director
(Director, Scotia Capital Inc.)

Douglas Derry
Director
(Corporate Director)

Terry Jackson
Director
(Corporate Director)

D. Anthony Ross
Director
(Chair of the Board of Infrastructure Ontario)

Robert Hall
Director
(Managing Director, Scotia Capital Inc.)


Profile

The Fund invests in the securities of Moneda Deuda Latinoamericana Fondo de Inversion (the "Moneda Fund"), a Chilean listed investment fund which invests in a diversified portfolio of fixed income securities of companies located in, or with significant operations in, Latin America, primarily denominated in U.S. dollars. The Fund's investment objectives are to: (i) preserve and enhance the net asset value of the Fund and; (ii) provide Unitholders with quarterly distributions through investment in the Moneda Fund.

Summary Statistics as at 03/23/2017

HideClass A Units
Net Asset Value (NAV) per Unit $10.66
Units Outstanding 2,839,420
Market Capitalization $28,820,113
Total Expense Ratio (including Fund operating costs) 2.69%
IPO Date 11/03/2011
Redemption Date N/A
Ticker Symbol MLD.UN
Issue Price $10.00
Market Price (TSX) $10.15
Targeted Annual Distribution $0.60
Trailing 12-Month Distribution $0.6750

HideClass U Units
Net Asset Value (NAV) per Unit US$10.72
Units Outstanding 344,465
Total NAV US$3,691,722
Total Expense Ratio (including Fund operating costs) 2.75%
IPO Date 11/03/2011
Redemption Date N/A
Issue Price US$10.00
Targeted Annual Distribution US$0.60
Trailing 12-Month Distribution US$0.75

General Information

Distribution Policy

The Fund intends to make quarterly cash distributions to Unitholders of record on the last business day of each calendar quarter. The Fund will not have a fixed distribution but intends to make quarterly distributions which will approximate the income earned on the portfolio of the Moneda Fund net of any expenses. Based on current estimates, the quarterly cash distributions are currently estimated to be $0.15 per Class A Unit and US$0.15 per Class U Unit ($0.60 and US$0.60 per annum, respectively). For historical distribution amounts, please see distribution information.

Redemption

Units may be redeemed on the last Business Day in November (the "Annual Redemption Date") in any year. Units properly surrendered for redemption at least 45 days prior to an Annual Redemption Date will be redeemed on such Annual Redemption Date and the Unitholder will receive payment within 15 days of the Annual Redemption Date, subject to the Fund's right to suspend redemptions in certain circumstances. Unitholders will be entitled to receive a redemption price per Unit equal to the NAV per Unit as of such date (which in turn will be based on the Forward Amount received by the Fund on the partial presettlement of the Forward Agreement undertaken to fund such redemption), less any costs and expenses incurred by the Fund in connection with funding the redemption.

Monthly Redemption

In addition to the annual redemption right, Unitholders may choose to redeem Units on the second last Business Day in a month (a "Monthly Redemption Date"), subject to certain conditions. In order to effect such a redemption, the Units must be surrendered by no later than 5:00 p.m. (Toronto time) on the date which is the last Business Day of the month preceding the Monthly Redemption Date. Payment of the redemption price will be made on or before the 30th day following such Monthly Redemption Date, subject to the Manager's right to suspend redemptions in certain circumstances. Concurrently with the payment of the redemption price, the Fund may pay to the redeeming Unitholder a cash distribution in the amount of the net realized capital gains or income of the Fund incurred by it to fund the payment of the redemption price.

Unitholders surrendering a Class A Unit for redemption on a Monthly Redemption Date will receive a redemption price equal to the lesser of (a) 90% of the "weighted average trading price" of the Class A Units on the principal market on which the Class A Units are quoted for trading during the 15 trading days preceding the applicable Monthly Redemption Date; and (b) the "closing market price" of the Class A Units on the principal market on which the Class A Units are quoted for trading on the applicable Monthly Redemption Date less, in each case, any costs associated with the redemption, including brokerage costs.

Unitholders surrendering a Class U Unit for redemption on a Monthly Redemption Date will receive in U.S. dollars an amount equal to the U.S. dollar equivalent of the product of (i) the Monthly Redemption Amount and (ii) a fraction, the numerator of which is the most recently calculated Net Asset Value per Unit of a Class U Unit and the denominator of which is the most recently calculated Net Asset Value per Unit of a Class A Unit. For such purpose, the Fund will utilize the Bank of Canada Rate current at, or as nearly as practicable to, the Monthly Redemption Date in respect of a monthly redemption of Class U Units.

Termination

The Fund does not have a fixed termination date but may be terminated by a majority vote at a meeting of Unitholders called for that purpose.

Taxation

It is expected that the quarterly distributions received by Unitholders will be characterized primarily as returns of capital and capital gains for tax purposes. Amounts distributed on the units that are characterized as return of capital are generally non-taxable to a Unitholder but reduce the Unitholder's adjusted cost base on the units for tax purposes.