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 > New CSA Rules

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Post by mcdok0 on Aug 13, 2014 9:52pm

New CSA Rules

There are new rules for close end mutual funds that they can not issues shares less than the NAV. This is going to help existing share holders and stock closed end fund from getting access to cash in future. This investment is going up, up, up.

https://www.timelydisclosure.com/2014/06/24/phase-2-amendments-fund-modernization/

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Comment by VerusSemperSors on Aug 14, 2014 12:06pm

you are quite right - this investment is going up, up, up - and for good reasons. Upcoming redemption, large discount to NAV have been highlighted here. Re. not issuing shares at less than NAV, I didn't find that specific restriction in the new rules link you posted. As a closed fund CTF.UN can not issue new shares directly. So perhaps you were referring to the restriction on issuing warrants, ...more

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Citadel Income Fund