Bullboard - Stock Discussion Forum 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... see more

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Citadel Income Fund > Fund objectives

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Post by riskymoney on Apr 28, 2014 9:46am

Fund objectives

I would like to know how the investment manager can unilaterally change the funds objective. This is an income fund. It suppose to pay high monthly income. If you are worried about capital preservation. I suggest we get new fund managers immediately. Perhaps the OSC would be interested in helping?

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Comment by ChupacabraBueno on Apr 28, 2014 4:09pm

I'm sure that management would claim that cutting the div to preserve capital was not unilateral - as is clear from this BB, some investors were asking them to do just that. Still it was a surprising move. Predictably, the SP took a hit, as those who liked the high div as it was were inclined to sell & those who want capital gains were probably watching other funds that already ...more

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Citadel Income Fund