Toronto, February 5, 2003: Mulvihill Pro-AMS 100 Plus (US$) (the "Fund") has declared its monthly distribution of US$0.14167 per Unit payable February 28, 2003 to unitholders of record as of February 17, 2003.
Mulvihill Pro-AMS 100 Plus (US$) was launched in November 2001 with three investment objectives: (1) to return at a minimum the original issue price of the units (US $20.00) to Unitholders upon termination of the Fund; (2) to provide Unitholders with monthly distributions; and (3) to preserve the value of the Fund¹s Managed Portfolio.
To provide the Fund with the means to return the original issue price of the Units on termination, the Fund has entered into a forward purchase and sale agreement with Royal Bank of Canada ("RBC") pursuant to which RBC will agree to pay to the Fund an amount equal to US$20.00 for each Fund Unit outstanding on the Termination Date in exchange for the Fund agreeing to deliver to RBC equity securities (the ³Fixed Portfolio²).
The balance of the net proceeds of the Fund have been invested in a diversified internationally focused portfolio (the "Managed Portfolio") consisting principally of equity securities (including common shares and ADRs) that are listed on a major North American stock exchange or market with an emphasis on the top 100 in each category by market capitalization of ADRs, U.S. equities and Canadian equities. In addition, the issuers of such securities must have a market capitalization in excess of U.S. $5.0 billion if listed solely in the United States or a market capitalization in excess of C$1.0 billion if listed in Canada.
The Fund may from time to time, write covered call options in respect of all or part of the securities in the Managed Portfolio. In addition, the Fund may write cash covered put options in respect of securities in which the Fund is permitted to invest.
Fund¹s investment portfolio is managed by its investment manager, Mulvihill
Capital Management Inc. Fund Units are listed on The Toronto Stock Exchange
under the symbol PRU.U.
For more information,
Pro-AMS 100 Plus (US$)