{"id":464537,"date":"2021-03-24T16:04:20","date_gmt":"2021-03-24T20:04:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464537"},"modified":"2021-03-24T16:04:20","modified_gmt":"2021-03-24T20:04:20","slug":"u-s-financials-income-fund-announces-year-end-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-financials-income-fund-announces-year-end-results\/","title":{"rendered":"U.S. Financials Income Fund Announces Year End Results"},"content":{"rendered":"
\n

TORONTO, March 24, 2021 (GLOBE NEWSWIRE) — (TSX: USF.UN)<\/strong> U.S. Financials Income Fund (the \u201cFund\u201d) announces results of operations for the year ended December 31, 2020. Decrease in net assets attributable to holders of Class A amounted to C$1.16 million or C$1.43 per Class A unit. Decrease in net assets attributable to holders of Class U units amounted to C$0.10 or C$1.76 per Class U unit. As at December 31, 2020, net assets attributable to holders of Class A were C$3.62 million or C$5.78 per Class A unit; and net assets attributable to holders of Class U units were C$0.40 (US$0.32) million or C$7.86 (US$6.17) per Class U unit. Cash distributions of C$0.50 per Class A unit and US$0.50 per Class U unit were paid during the year.<\/p>\n

The Fund\u2019s investment objectives are (i) to provide Unitholders with quarterly cash distributions; and (ii) to maximize total return through capital appreciation and distributions.<\/p>\n

To achieve its investment objectives, the Fund invests in an actively managed portfolio of U.S. financial or real estate issuers selected from the S&P 500 Index that are classified as \u201cFinancials\u201d or \u201cReal Estate\u201d by Standard & Poor\u2019s Global Industry Classification Standard and which have a market capitalization of at least US$10 billion and a credit rating issued by Standard & Poor\u2019s Rating Services of at least A- at the time of purchase. The portfolio may also include U.S. publicly listed alternative asset management issuers which have a market capitalization of at least US$5 billion at the time of purchase. In addition, the Fund may invest up to 25 percent of the net asset value in other U.S. financial, real estate or alternative asset management issuers that do not meet the rating or market capitalization requirements noted above.<\/p>\n

To generate additional income above the distributions earned on its equity securities, the Fund will, from time to time, write covered call options in respect of all or a portion of the securities in its portfolio.<\/p>\n

The Fund\u2019s investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. The Class A units are listed on the Toronto Stock Exchange under the ticker symbol USF.UN. The Class U units are denominated in U.S. currency and do not trade on an exchange.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Selected Financial Information: ($ Millions)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Statement of Financial Position as at December 31st<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n
\n 2020<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
Assets<\/td>\nC$<\/td>\n4.08<\/td>\n\u00a0<\/td>\n<\/tr>\n
Liabilities<\/td>\n\u00a0<\/td>\n(0.06<\/td>\n)<\/td>\n<\/tr>\n
Net Assets Attributable to Equity Holders<\/td>\n\n C$<\/strong>\n <\/td>\n\n 4.02<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Statement of Comprehensive Income for the year ended December 31st<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss (including Net Loss on Investments)<\/td>\nC$<\/td>\n(0.95<\/td>\n)<\/td>\n<\/tr>\n
Expenses<\/td>\n\u00a0<\/td>\n(0.31<\/td>\n)<\/td>\n<\/tr>\n
Decrease in Net Assets Attributable to Holders of Class A and Class U Units<\/td>\n\n C$<\/strong>\n <\/td>\n\n (1.26<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com<\/a>.<\/p>\n\n\n
John Germain, Senior Vice-President & CFO<\/td>\n\n Strathbridge Asset Management Inc.<\/strong>
\n
121 King Street West
Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
info@strathbridge.com<\/a><\/td>\n<\/tr>\n<\/table>\n

\n Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.<\/em>\n <\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, March 24, 2021 (GLOBE NEWSWIRE) — (TSX: USF.UN) U.S. Financials Income Fund (the \u201cFund\u201d) announces results of operations for the year ended December 31, 2020. Decrease in net assets attributable to holders of Class A amounted to C$1.16 million or C$1.43 per Class A unit. Decrease in net assets attributable to holders of Class U units amounted to C$0.10 or C$1.76 per Class U unit. As at December 31, 2020, net assets attributable to holders of Class A were C$3.62 million or C$5.78 per Class A unit; and net assets attributable to holders of Class U units were C$0.40 (US$0.32) million or C$7.86 (US$6.17) per Class U unit. Cash distributions of C$0.50 per Class A unit and US$0.50 per … <\/p>\n

Continue reading “U.S. Financials Income Fund Announces Year End Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-464537","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nU.S. Financials Income Fund Announces Year End Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-financials-income-fund-announces-year-end-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Financials Income Fund Announces Year End Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, March 24, 2021 (GLOBE NEWSWIRE) — (TSX: USF.UN) U.S. Financials Income Fund (the \u201cFund\u201d) announces results of operations for the year ended December 31, 2020. Decrease in net assets attributable to holders of Class A amounted to C$1.16 million or C$1.43 per Class A unit. Decrease in net assets attributable to holders of Class U units amounted to C$0.10 or C$1.76 per Class U unit. As at December 31, 2020, net assets attributable to holders of Class A were C$3.62 million or C$5.78 per Class A unit; and net assets attributable to holders of Class U units were C$0.40 (US$0.32) million or C$7.86 (US$6.17) per Class U unit. 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