Citadel Income Fund T.CTF.UN

Alternate Symbol(s): CTFUF

Citadel Income Fund (the Trust) is a Canada-based closed-end investment trust. The Trust’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. The Trust invests in a diversified portfolio of securities with the focus on income generation consisting of equity securities, of principally larger capitalization companies traded on a recognized stock exchange; debt securities with a focus on yield enhancement, with a minimum of 80% of debt securities invested in investment grade debt rated BBB or higher, and income funds. The Fund's portfolio is managed by Vestcap Investment Management Inc. Artemis Investment Management Limited is the investment fund manager of the Fund.

TSX:CTF.UN - Post by User

Citadel Income Fund

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Post by spazzmanon Feb 07, 2012 5:03pm

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Post# 19501961

Bought today

Could not turn down a 23% discount on the stock holdings listed below. N.A.V. $5.24

Dividends declared to year end. 8.9% at todays close $4.03.

Bonus: Management plans to buy back 10% of the o/s shares for cancelation!

SUMMARY OF INVESTMENT PORTFOLIO As at September 30, 2011 (unaudited)

Canadian Equities

Pipeline/Energy Investments 18.3 %

Financial Services 17.6 %

Telecommunications 9.4 %

Materials 4.4 %

Oil & Gas Corporations 4.2 %

Consumer Goods & Services 4.2 %

Industrials 4.0 %

Total Canadian Equities 62.1 %

International Equities 20.9 %

Canadian Bonds 10.7 %

Cash and Term Deposits 3.3 %

Other Assets, Net of Liabilities 1.7 %

International Bonds 1.3 %

Top 25 Holdings (as a % of Net Assets)

Toronto Dominion Bank 4.4 %

Royal Bank of Canada 4.2 %

Bank of Nova Scotia 3.8 %

Cenovus Energy Inc. 2.7 %

Enbridge Inc. 2.6 %

SNC-Lavalin Group Inc. 2.5 %

TransCanada Corp. 2.4 %

National Grid PLC 2.2 %

Philip Morris International 2.0 %

Vodafone Group PLC 2.0 %

Bonavista Energy Corp. 1.9 %

Cogeco Cable Inc. 1.9 %

Thomson Reuters Corp. 1.9 %

Manulife Financial Corp. 1.8 %

Johnson & Johnson 1.8 %

Rogers Communications Inc. 1.7 %

Potash Corp. of Saskatchewan Inc. 1.7 %

Colgate Palmolive 1.7 %

Shoppers Drug Mart 1.7 %

Shaw Communications Inc. 1.6 %

Procter & Gamble 1.6 %

Automatic Data Processing 1.6 %

Pfizer Inc. 1.6 %

Encana Corp. 1.6 %

Great-West Lifeco Inc. 1.5 %

TORONTO, Jan. 23, 2012 /CNW/ - Crown Hill Capital Corporation, the Manager (the "Manager") of Citadel Income Fund (the "Trust"), announced today that the Trust will renew its normal course issuer bid effective February 1, 2012 to permit the Trust to purchase up to 3,026,052 of the outstanding Trust Units ("Units") on the TSX from time to time. The Trust may purchase Units in the market for cancelation if the Manager determines that such purchases are accretive to holders of Units. Under the normal course issuer bid, the Trust may purchase up to 3,026,052 Units, representing approximately 10% of the public float of 30,260,515 Units. The issued and outstanding as at January 18, 2012 is also 30,382,226.