TORONTO, Feb. 18 /CNW/ - Middlefield Group, on behalf of INDEXPLUS Dividend Fund ("INDEXPLUS" or the "Fund"), is pleased to announce that the Fund has
completed its initial public offering of 10,000,000 units at a price of
$12.00 per unit for gross proceeds of $120,000,000.
INDEXPLUS Dividend Fund is designed to provide investors with low-cost exposure to the Canadian
equity income sector through a combination of indexing and active
portfolio management. At least 50% and up to 80% of the Fund's assets
will be invested in a diversified portfolio of securities which is
designed to track, to the extent practicable, the newly created S&P®/TSX™ Equity Income Index and the remainder of the Fund's assets will be
The Fund's investment objectives are to:
(i) provide holders of Units with monthly cash distributions; and
(ii) outperform the S&P®/TSX™ Equity Income Index on a total return basis,
through an investment strategy which combines indexing and active
portfolio management and entails investing primarily in Canadian
dividend paying equity securities.
The initial target distribution yield is 6.5% per annum based on the
original subscription price (or $0.065 per Unit per month or $0.78 per
Unit per annum).
The offering was made through a syndicate of agents co-led by CIBC World
Markets Inc. and RBC Capital Markets and including BMO Capital Markets,
National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc.,
GMP Securities L.P., Canaccord Genuity Corp., Dundee Securities
Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd.,
Macquarie Private Wealth Inc., Middlefield Capital Corporation and
Wellington West Capital Markets Inc.
S&P and the TSX have not sponsored, endorsed, sold or promoted the Units
or the Fund and neither S&P nor the TSX make any representation
regarding the advisability of investing in Units of the Fund. S&P has
no relationship to the Fund, but the manager of the Fund (or an
affiliate thereof) has entered into an agreement with S&P relating to
the licensing by the Fund of certain trademarks and trade names of S&P
and the TSX.
SOURCE INDEXPLUS Dividend Fund
For further information:
please visit our website atwww.middlefield.comor contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or at 1.888.890.1868.