Canoe EIT Income Fund Unveils 2025 Redemption Process Update
Canoe EIT Income Fund Announces 2025 Voluntary Cash Redemption
CALGARY, Alberta, Canoe EIT Income Fund, commonly referred to as Canoe, has announced key details regarding its voluntary cash redemption for the upcoming year. This initiative reflects the Fund's ongoing commitment to delivering value to its unitholders through strategic financial decisions.
Voluntary Annual Cash Redemption Overview
The voluntary cash redemption process is set to take place on December 5, 2025. Unitholders will have the opportunity to redeem their units at a price calculated as 95% of the Average Net Asset Value (NAV) determined from the three trading days prior to the redemption date. This approach aims to provide a fair and transparent method for unitholders seeking liquidity.
Redemption Requests and Requirements
Unitholders who wish to participate in this redemption must notify their investment advisor or brokerage by November 14, 2025. It is worth noting that some investment firms might set earlier deadlines to streamline the processing of these requests. Furthermore, registered unitholders, who possess a physical share certificate, should reach out directly to the Fund’s transfer agent, Alliance Trust Company, for assistance.
Understanding Key Dates
Here are the significant dates to remember:
- From October 3 to November 14, 2025: Unitholders can submit their units for redemption.
- On December 2, 3, and 4, 2025: The redemption price will be calculated based on the Average NAV during these trading days.
- December 5, 2025: This marks the official redemption date.
- Payment for all accepted redemption requests will occur by December 30, 2025.
Important Considerations for Unitholders
Unitholders are encouraged to understand the nuances surrounding their potential redemption. For instance, any requests from non-resident unitholders might incur withholding taxes, and they should be mindful of this when considering their ownership in the Fund.
About Canoe EIT Income Fund
Canoe EIT Income Fund is recognized as one of Canada's largest closed-end investment funds. It is strategically crafted to maximize monthly distributions and enhance capital appreciation by investing in a diverse portfolio of high-quality securities. The Fund is publicly listed on the TSX under the ticker EIT.UN and is actively managed by Robert Taylor, the Senior Vice President and Chief Investment Officer at Canoe Financial.
Profile of Canoe Financial
Established in 2008, Canoe Financial is among the fastest-growing independent mutual fund companies in Canada, with an impressive portfolio that encompasses over $20.5 billion in managed assets. The firm prides itself on being employee-owned and focuses on cultivating financial wealth for Canadian investors. With operations spanning across major cities such as Calgary, Toronto, and Montreal, Canoe Financial is dedicated to providing award-winning investment solutions.
Contact Information
For inquiries, unitholders can reach out to the Investor Relations team at Canoe Financial by calling 1-877-434-2796 or emailing info@canoefinancial.com.
Frequently Asked Questions
What is the significance of the 2025 voluntary cash redemption?
The 2025 voluntary cash redemption allows unitholders to liquidate their investment in the Fund and receive cash, which can be particularly beneficial in changing market conditions.
How is the redemption price determined?
The redemption price is set at 95% of the Average Net Asset Value based on the three trading days before the redemption date.
When should I notify my advisor about redeeming units?
You must notify your investment advisor or brokerage no later than November 14, 2025, but be aware that some firms may require earlier notification.
Will I still receive distributions if I redeem my units?
Yes, any units submitted for redemption will continue to be eligible for the October and November 2025 distributions.
What should non-resident unitholders be aware of regarding redemptions?
Non-resident unitholders should be cautious as their redemption requests may be subjected to withholding tax, impacting the net proceeds from redemption.
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