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)

Massimo Ceschia
Chief Financial Officer and Director
(Director, Scotia Capital Inc.)

Douglas Derry
Director
(Corporate Director)

Terry Jackson
Director
(Corporate Director)

Patrick Lincoln
Director
(Corporate Director)

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


Profile

The Fund has been established to provide investors with investment exposure to a diversified portfolio of Canadian high yield fixed income securities ("Canadian HY Corporate Bonds") to be actively managed by High Rock Capital Management Inc. (the "Portfolio Manager"). The Portfolio Manager believes that Canadian HY Corporate Bonds can provide investors with: (i) attractive yields that historically have had a low correlation with rising interest rates; (ii) the potential for "equity-like" total return performance with lower volatility than equities; (iii) portfolio diversification from other fixed income securities; and (iv) a replacement for income trust securities.

Summary Statistics as at 11/21/2019

HideClass A Units
Net Asset Value (NAV) per Unit $7.45
Units Outstanding 2,177,814
Market Capitalization $16,006,933
Expense Ratio 2.20%
IPO Date 03/31/2011
Ticker Symbol AHY.UN
Issue Price $10.00
Market Price (TSX) $7.35
Trailing 12-Month Distrbution 0.3900

HideClass F Units
Net Asset Value (NAV) per Unit $7.53
Units Outstanding 260,750
Total NAV $1,964,122
Expense Ratio 1.72%
IPO Date 03/31/2011
Issue Price $10.00
Trailing 12-Month Distrbution $0.4400

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 Canadian HY Corporate Bonds net of any expenses. If such amount is greater than $0.675 per Class A Unit and $0.74 per Class F Unit, the Manager has the discretion to limit distributions to such amounts and retain all or a portion of such income in the portfolio in order to grow the assets of the Fund.

Redemption

Unitholders will have the right to surrender their Class A or Class F units for redemption at an amount equal to the NAV per unit on December 15 of each year (less any costs and expenses incurred in connection with funding the redemption). Units must be surrendered for redemption on or before November 15. Payment of the proceeds of redemption will be made on or before December 31 of each year.

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.


Legal Notices

You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the TSX (or other eligible market) where the investment fund is listed and quoted. If the units are purchased or sold on the TSX or other market, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. The indicated rates of return on this site are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.