Taylor North American Equity Opportunities Fund
TAYLOR NORTH AMERICAN EQUITY OPPORTUNITIES FUND COMPLETES MERGER WITH BROMPTON GLOBAL DIVIDEND GROWTH ETF Toronto, January 29, 2019 – (TSX: TOF.UN; BDIV)
Brompton Funds Limited (the “Manager”), the manager of Taylor North American Equity Opportunities Fund (“TOF”) is pleased to announce the completion of the merger (the “Merger”) of TOF into Brompton Global Dividend Growth ETF (“BDIV”and together with TOF, the “Funds”) effective January 29, 2019. The Merger was approved at a special
meeting of unitholders of TOF held on November 30, 2018.
The Merger was implemented using exchange ratios based on the relative net asset value (“NAV”) per unit of each of TOF and BDIV, each determined as at the close of business on January 28, 2019. The table below provides the NAV per unit for each of the Funds and the applicable exchange ratio at such time.
TOF per unit $9.3794
BDIV per unit $18.9407
Exchange Ratio 0.495198
Unitholders of TOF are not required to take any action in order to be recognized as unitholders of BDIV. Units of BDIV issued to former unitholders of TOF pursuant to the Merger will continue to trade on the Toronto Stock Exchange under the symbol “BDIV”.
Brompton Global Dividend Growth ETF
FUND FACTS
Portfolio Manager
David Taylor of Taylor Asset Management Inc. has been managing equities for 25 years and funds managed by David Taylor have won 15 Lipper Awards(1) and 3 Morningstar Canada’s Best Canadian Equity Fund Awards(1) in the past decade for short, mid and long-term performance.
Distributions
Distributions from the Fund have tax benefits which results in higher after-tax cash flow than if the income had been earned as interest income.
It is expected that distributions to unitholders will primarily be characterized as combination of capital gains, return of capital and foreign income but may also include ordinary dividends.
The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March. 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 purpose of the Income Tax Act (Canada), are resident in Canada and hold units as capital property outside of an RRSP, DPSP, RRIF, RESP or TFSA. Unitholders should receive a T3 slip from their investment dealer providing this information.
T3 supplementary slips for holdings of the Fund will indicate Other Income (Investment Income and Non-Investment Income) in Box 26, 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 Fund units and is reported on the T3 supplementary slips in Box 42.
The following table outlines the breakdown in the Fund’s distributions declared on a per unit basis
| Record Date | Payment Date | Return of Capital | Foreign Non- Business Income | Foreign Non- Business Income Tax Paid | Capital Gains | Total Distribution |
|---|---|---|---|---|---|---|
| Dec 31, 2018 | Jan 15, 2019 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Nov 30, 2018 | Dec 14, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Oct 31, 2018 | Nov 14, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Sep 28, 2018 | Oct 15, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Aug 31, 2018 | Sep 17, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Jul 31, 2018 | Aug 15, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Jun 29, 2018 | Jul 16, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| May 31, 2018 | Jun 14, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Apr 30, 2018 | May 14, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Mar 29, 2018 | Apr 13, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Feb 28, 2018 | Mar 14, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Jan 31, 2018 | Feb 14, 2018 | 0.05200 | 0.00000 | 0.00000 | 0.00000 | 0.05200 |
| Total | 0.62400 | 0.00000 | 0.00000 | 0.00000 | 0.62400 | |
