Special Dividends in Income Portfolios Driven by Strong Underlying Market Growth
Toronto, Ontario, September 5, 2000: Mulvihill Capital Management, Canada's premier manager of enhanced yield investment products, today declared special and regular distributions for investors in eight of its portfolios - Global Telecom Split Share Corp., First Premium Income Trust, First Premium U.S. Income Trust, First Premium Oil & Gas Income Trust, 60Plus Income Trust, Global Plus Income Trust, Digital World Trust and the Premium Global Income Fund (open-ended mutual fund).
Mulvihill has provided investors with regular quarterly distributions derived from dividends generated from the equity securities held within the portfolios and from capital gains including those generated by writing covered call options on all or part of the securities held in the portfolios and from cash covered put options. Special distributions disburse excess net income and net capital gains of the fund to its investors so that the fund is not liable for tax at year end
"Our products are designed to offer investors security, stable income streams and solid returns," said John Mulvihill, Chairman and CEO, Mulvihill Capital Management. " We actively manage all our portfolios to hit distribution targets, while protecting the original capital to return to investors on termination of the funds."
Mulvihill Capital Management Inc. is a leading Canadian investment counsel responsible for the management of institutional and personal assets. The Company╝s cohesive team of senior managers provides clients with a uniquely customized approach to asset management that emphasizes enhanced return and security of capital.