Closed-End Funds
Split share corporations
Typically an investor buys a stock to receive dividends and to take advantage of any gains on a stock price. Split share funds however are unique investment corporations that offer two distinct classes of shares and typically invest in an underlying portfolio of dividend paying companies. The two distinct classes of shares are usually classified as 1) capital shares and 2) preferred shares. Both classes of shares trade separately on an exchange. Split share funds split or reallocate these two benefits between the two separate classes of shares. Preferred shares receive fixed, cumulative quarterly payments. Capital shares capture the movement of the underlying stocks, but in a more magnified way than if an investor owned the underlying portfolio of securities directly. This magnification of return is commonly known as “leverage”.
Closed-end investment trusts
A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange. Closed end investment trusts raise a prescribed amount of capital only once through an IPO by issuing a fixed amount of shares, which are purchased by investors in the closed-end fund as stock. Unlike regular stocks, closed-end fund stock represents an interest in a specialized portfolio of securities that is actively managed and which typically concentrates on a specific industry, geographic market, or sector. The stock prices of a closed-end fund fluctuate according to market forces as well as the changing values of the securities in the fund's holdings.
AIC Global Financial Split Corp.
The AIC Global Financial Split Corp. was created to provide investors with a tax-efficient split share structure with exposure to some of the world’s leading bank-based, insurance-based and investment management based financial services companies.
Copernican International Financial Split Corp.
Copernican International Financial Split Corp. was created to provide exposure to the world’s leading retail bank, life insurance and investment management financial service companies based outside North America which the Investment Advisor believes have both attractive dividend yields and strong earnings growth momentum. The Investment Advisor believes the ongoing consolidation across financial services will continue, resulting in faster and less costly technology-driven economies of scale reaching, profitably, a steadily increasing percentage of the world’s population, notably across parts of Eastern and Central Europe, Latin and South America and Asia.
Copernican World Banks Split Inc.
Copernican World Banks Split Inc. was created to provide investors with an opportunity to invest in an attractive tax-efficient split share structure with an actively managed portfolio of 25-30 of the world’s leading global bank-based financial services companies. The Investment Advisor believes these businesses have both attractive dividend yields and strong earnings growth momentum.
Copernican World Financial Infrastructure Trust
Copernican World Financial Infrastructure Trust was created to provide investors with an opportunity to invest in an actively managed portfolio of issuers that underpin the world’s financial infrastructure, including those whose businesses dominate custodian and wealth management, securities exchanges, insurance brokerage, financial networks and processing and financial information, which the Investment Advisor believes have attractive dividend yields, strong earnings growth momentum and high barriers to entry, including high customer switching costs.
Oil Sands Sector Fund is a closed-end investment trust created to provide investors with exposure to the returns of an actively managed portfolio comprised primarily of issuers participating in the Canadian Oil Sands sector. The Investment Advisor believes that the global supply for crude oil is at or near its peak and the Canadian Oil Sands are attractively positioned to benefit from future growth in the demand for global energy.
Markland AGF Precious Metals Corp.
Markland AGF Precious Metals Corp is a closed-end investment trust created to provide investors with the opportunity for capital appreciation by investing in an actively managed portfolio of equity securities primarily in the gold and precious metals industry, as well as direct investments in precious metals such as gold and silver bullion. The Company will also invest, to a lesser extent, in base metals and mineral companies.
