Citadel Income Fund T.CTF.UN

Alternate Symbol(s): CTFUF

Citadel Income Fund (the Fund) is a Canada-based closed-end investment trust. The Fund’s investment objectives are to provide its Unitholders with a stable stream of monthly distributions and to preserve and potentially enhance the Net Asset Value (NAV) of the Fund. It seeks to achieve these objectives by investing in a diversified portfolio (the Portfolio) of securities (the Portfolio Securities) consisting of equity securities of principally larger capitalization companies traded on a recognized stock exchange, debt securities, with a minimum of 80% of debt security investments in investment grade debt rated BBB or higher, and income funds. The Fund’s portfolio is managed by Vestcap Investment Management Inc. (the Portfolio Advisor). Artemis Investment Management Limited is the investment fund manager of the Fund.

TSX:CTF.UN - Post by User

Citadel Income Fund > management expense ratio of 9.27%

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Comment by BuenaSuertaAtodon May 07, 2014 3:00pm

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Post# 22534938

RE:management expense ratio of 9.27%

Risky, That MER was a 1-time event having to do with the change of fund managers. The MER is normally a fraction of that. Of course, the right time for a 9.27% MER is NEVER - and it no doubt has something to do with the extreme discount to NAV. IMO the turnover ratio is the least of their sins - 32.45% is not that high. The annual voluntary redemption should provide a descent gain with this high discount to NAV. GLTA.

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