TORONTO, May 22, 2019 (GLOBE NEWSWIRE) -- (TSX:BPRF, FFI.UN) Investors and investment advisors are invited to view and listen to a recorded presentation on the Brompton Flaherty & Crumrine Investment Grade Preferred ETF. The presentation is hosted by Chris Cullen, SVP and Head of ETFs for Brompton Funds, and Chad Conwell, Executive Vice President of Flaherty & Crumrine Incorporated (“FCI”). FCI is also the sub-advisor of Flaherty & Crumrine Investment Grade Preferred Income Fund (“FFI”), a closed-end fund founded in 2004.
Chris gives an overview of the current turbulent state of the predominately fixed-rate-reset Canadian preferred share market. Chad discusses the benefits of diversification with U.S. preferred securities which offer attractive levels of income, high credit quality, and moderate interest rate sensitivity. The presentation has been posted to the Brompton Funds website at the following link:
https://www.bromptongroup.com/bprf-update-presentation/
Brompton Flaherty & Crumrine Investment Grade Preferred ETF (TSX: BPRF) invests in an actively-managed portfolio consisting primarily of preferred and income-producing corporate securities of North American issuers (primarily U.S. issuers), or of Canadian or U.S. dollar-denominated securities of global issuers. BPRF will primarily invest in securities that are rated Investment Grade, with at least 75% of BPRF’s portfolio comprised of investment grade securities at the time of any new investment. BPRF’s targeted distribution rate is $1.25 per share, per annum 4.9%1, payable monthly.
About Flaherty & Crumrine
Flaherty & Crumrine Incorporated is the sub-advisor to BPRF. FCI was established in 1983, and specializes in US-dollar-denominated preferred securities and corporate debt instruments. The firm uses 30 years of proprietary data on over 1500 preferred securities to carry out intensive credit analysis, thorough vetting of securities’ terms and structures, and active portfolio management, with the goal of exploiting pricing inefficiencies in the preferred securities market to provide attractive rates of return on its funds. As of March 31, 2019, FCI’s AUM was approximately US$4.2 billion, primarily in preferred securities.
About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with over $2 billion in assets under management. Brompton’s investment solutions include TSX listed closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email us at info@bromptongroup.com or visit our website at www.bromptongroup.com.
(1) Based on the May 15, 2019 closing price.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
You will usually pay brokerage fees to your dealer if you purchase or sell units of FFI on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about FFI. You can find more detailed information about FFI in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the ETF and FFI, to the future outlook of the ETF and FFI and anticipated events or results and may include statements regarding the future financial performance of the ETF and FFI. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
