Blue Ribbon Income Fund
-
Management StyleActive
-
Closing Price (Nov 20, 2024)$8.44
-
NAV (Nov 14, 2024)$8.70
-
Distribution Rate (Nov 20, 2024)5.69%
-
Management Fee1.00%
-
Total Assets (Oct 31, 2024)$73 Million
Why Invest?
- The Investment Manager believes that high-income common equities in Canada will continue to outperform non-dividend paying common equities
- 20+ year strategy focused on undervalued investments in the Canadian high income equity market
- Investment Manager, Bloom Investment Counsel, Inc. focuses on high income equity investments with over 35 years of experience
Investment Objectives
To achieve a high level of monthly cash distributions and the opportunity for capital appreciation by investing in a high income equity portfolio, consisting primarily of dividend paying Canadian equities.
This Fund is for Investors who are:
- Seeking capital appreciation
- Seeking income
- Comfortable with equity risk
FUND FACTS
- Ticker
RBN.UN -
CUSIP
095819108 -
Outstanding
(Nov 20, 2024)
8,515,572 - Inception Date (CAD Hedged)
September 17, 1997 - Manager/Portfolio Manager
Brompton Funds Limited - Auditor
PricewaterhouseCoopers LLP - Currency
CAD - Custodian
CIBC Mellon Trust Company - Transfer Agent
TSX Trust Company - Eligibility
All registered and non-registered accounts - Annual Redemption Date
2nd last business day of November - Annual Redemption Notice Deadline
Last business day of October - Investment Manager
Bloom Investment Counsel, Inc.
Portfolio Manager
Bloom Investment Counsel, Inc. (“Bloom”) was established in 1985 and specializes in the management of segregated investment portfolios for wealthy individuals, corporations, foundations, institutions and trusts. In addition to its conventional investment management business, Bloom currently manages specialty high-yield equity portfolios comprised of dividend-paying common equity securities, income trusts, and real estate investment trusts. Bloom currently provides investment management services to four TSX-listed, closed-end portfolios.
This webpage is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. The opinions contained in this report are solely those of Brompton Funds Limited (“BFL”) and are subject to change without notice. BFL makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, BFL assumes no responsibility for any losses or damages, whether direct or indirect which arise from the use of this information. BFL is under no obligation to update the information contained herein. The information should not be regarded as a substitute for the exercise of your own judgment. Please read the annual information form before investing.
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses with owning shares 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 the public filings available at www.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Information contained on this webpage was published at a specific point in time. Upon publication, it is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the funds, to the future outlook of the funds and anticipated events or results and may include statements regarding the future financial performance of the funds. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
Blue Ribbon Income Fund
Summary of Investment Portfolio as at October 31, 2024
Top 25 Holdings
| % of Portfolio | % of Net Asset Value | |
|---|---|---|
| Province of Manitoba Treasury Bill 3.80% due January 8, 2024 | 7.9% | |
| Propel Holdings Inc. | 6.5% | |
| Chemtrade Logistics Income Fund | 5.7% | |
| goeasy Ltd. | 5.5% | |
| Keyera Corp. | 5.4% | |
| Transcontinental Inc. | 5.3% | |
| Premium Brands Holdings Corp. | 5.0% | |
| Enbridge Inc. | 4.8% | |
| Manulife Financial Corporation | 4.2% | |
| Canadian Tire Corp. | 4.1% | |
| Sun Life Financial Inc. | 4.1% | |
| Parkland Corporation | 4.0% | |
| Ag Growth International Inc. | 4.0% | |
| Gibson Energy Inc. | 3.9% | |
| Bank of Nova Scotia | 3.8% | |
| Toronto-Dominion Bank | 3.7% | |
| TFI International Inc. | 3.6% | |
| Rogers Communications Inc. | 3.4% | |
| Boralex Inc. | 3.1% | |
| Northland Power Inc. | 2.6% | |
| Jamieson Wellness Inc. | 2.5% | |
| Telus Corporation | 2.5% | |
| Superior Plus Corp. | 2.3% | |
| Allied Properties REIT | 1.7% | |
| Cash | 0.9% | |
| Total | 100.5% |
Growth of $10,000(1)
Annual Compound Returns(1)
| YTD | 1-Year | 3-Year | 5-Year | 10-Year | Since Inception(3) | Since Inception(4) | Since Inception(2) | |
|---|---|---|---|---|---|---|---|---|
| Blue Ribbon Income Fund | 14.2% | 28.0% | 5.5% | 7.1% | 3.7% | 8.9% |
Year-by-Year Returns
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Blue Ribbon Income Fund | 9.2% | (7.1%) | 19.3% | (5.1%) | 22.3% | (16.6%) | 2.6% | 30.0% | (13.3%) | (2.6%) | 14.9% |
Returns for Blue Ribbon Income Fund (“RBN.UN”) are unaudited. Certain returns for RBN.UN were calculated based on publicly available information and accounting records in each case prepared by a prior administrator of RBN.UN.
This webpage is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. The opinions contained in this report are solely those of Brompton Funds Limited (“BFL”) and are subject to change without notice. BFL makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, BFL assumes no responsibility for any losses or damages, whether direct or indirect which arise from the use of this information. BFL is under no obligation to update the information contained herein. The information should not be regarded as a substitute for the exercise of your own judgment. Please read the annual information form before investing.
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares 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 the public filings available at www.sedarplus.ca. The indicated rates of return 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 costs 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.
Information contained on this webpage was published at a specific point in time. Upon publication, it is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the funds, to the future outlook of the funds and anticipated events or results and may include statements regarding the future financial performance of the funds. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
Distributions
The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March as soon as possible following receipt of the information from the Fund’s individual holdings. This information will also be posted on the website as soon as it is available.
This information is of a general nature only and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.
DRIP
Investors may elect to automatically reinvest their distributions in additional units of the Fund and realize the benefits of compound growth. Any units acquired pursuant to the distribution reinvestment program qualify for the service fee. DRIP Plan
Tax Allocation
The following information is applicable to holders who, for the purposes of the Income Tax Act (Canada), are resident in Canada and hold trust units as capital property. If this is not the case, a tax advisor should be consulted.
Holders of trust units outside of a RRSP, DPSP, RRIF, RESP or TFSA should expect to receive a T3 slip from their investment dealer. T3 supplementary slips will indicate Other Income (Investment Income and Non-Investment Income) in Box 26, Foreign Business Income in Box 24, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Eligible Dividend Income in Box 49. Dividend income is subject to the standard gross up and federal dividend tax credit rules.
The return of capital component is a non-taxable amount that serves to reduce the adjusted cost base of the Fund units and is reported in Box 42.
| Record Date | Payment Date | Capital Gains | Eligible Dividend | Foreign Non- Business Income Tax Paid | Other Income | Return of Capital | Total Distribution |
|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | Jan 15, 2025 | * | * | * | * | * | 0.04000 |
| Nov 29, 2024 | Dec 13, 2024 | * | * | * | * | * | 0.04000 |
| Oct 31, 2024 | Nov 14, 2024 | * | * | * | * | * | 0.04000 |
| Sep 30, 2024 | Oct 15, 2024 | * | * | * | * | * | 0.04000 |
| Aug 30, 2024 | Sep 16, 2024 | * | * | * | * | * | 0.04000 |
| Jul 31, 2024 | Aug 15, 2024 | * | * | * | * | * | 0.04000 |
| Jun 28, 2024 | Jul 15, 2024 | * | * | * | * | * | 0.04000 |
| May 31, 2024 | Jun 14, 2024 | * | * | * | * | * | 0.04000 |
| Apr 30, 2024 | May 14, 2024 | * | * | * | * | * | 0.04000 |
| Mar 28, 2024 | Apr 12, 2024 | * | * | * | * | * | 0.04000 |
| Feb 29, 2024 | Mar 14, 2024 | * | * | * | * | * | 0.04000 |
| Jan 31, 2024 | Feb 14, 2024 | * | * | * | * | * | 0.04000 |
| Total | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.48000 | |
