Mulvihill Premium Yield Fund Reports Strong Semi-Annual Results
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Mulvihill Premium Yield Fund Announces Semi-Annual Results
Mulvihill Premium Yield Fund (TSX: MPY) has recently shared its operational results, revealing a promising overview for the period concluding on the last day of June 2024. The Fund experienced an increase in net assets attributable to its various unit holders, amounting to $0.91 million or $0.78 per Class I unit, $0.92 million or $0.80 per Class F unit, $0.55 million or $0.60 per Class A unit, and $0.46 million or $0.68 per ETF unit. By the end of June 2024, the net assets for Class I units were recorded at $11.57 million or $10.01 per unit, Class F units at $10.61 million or $10.01 per unit, Class A units at $9.28 million or $9.43 per unit, and ETF units at $8.93 million or $9.40 per unit. A total of $381,083, $367,452, $299,344, and $292,931 were distributed to Class I, Class F, Class A and ETF unit holders, respectively, indicating a consistent payment of $0.33 per unit across all classes during the reported period.
Fund's Investment Strategy
This Fund operates as a mutual fund investment trust, thoughtfully designed to provide its unitholders with high quarterly income on a tax-efficient basis, alongside long-term capital appreciation through strategic investments in high-quality equity securities. In addition, the Fund aims to minimize overall portfolio volatility, ensuring that unitholders enjoy a stable investment experience.
Investment Methodology
To achieve its goals, the Fund employs a diversified approach that includes writing options to collect tax-efficient option premiums. Additionally, it has an active portfolio composed of securities from both the S&P/TSX Composite Index and the S&P 500 Index. By dynamically adjusting its strategies to current market conditions, the Fund seeks to enhance its yield while also managing risks effectively.
Securities Selection and Risk Management
The investment strategy implemented by the Fund utilizes a quantitative approach for selecting securities, relying on detailed analyses to identify profitable opportunities. Moreover, the Fund is open to employing a range of investment strategies, including the use of derivative instruments to generate income, reduce portfolio volatility, and protect capital. The ultimate objective remains a yield of approximately 5%, highlighting a clear pathway to potential capital growth beyond this target.
Financial Results Overview
In the six-month period that ended on June 30, 2024, the Fund reported robust financial figures. The total income, including net gains on investments, reached $3.41 million, while total expenses amounted to $0.56 million. This leads to a substantial increase of $2.85 million in net assets attributable to the holders of Class I, Class F, Class A, and ETF units, underscoring the Fund's efficient management of resources.
Contact Information
To learn more about the Fund or to inquire further, interested parties can reach out to Investor Relations by calling 416.681.3966 or toll-free at 1.800.725.7172. For additional insights and information regarding the Fund's operations, visiting their website at www.mulvihill.com is advisable.
Frequently Asked Questions
What were the net assets for each unit class by June 30, 2024?
As of June 30, 2024, net assets stood at $11.57 million for Class I, $10.61 million for Class F, $9.28 million for Class A, and $8.93 million for ETF units.
How much income did the Fund generate in the reported period?
The Fund generated a total income of $3.41 million for the period ending June 30, 2024, which included net gains on investments.
What is the Fund's target yield?
The Fund aims to achieve a target yield of approximately 5%, with potential for additional capital growth.
Who manages the Fund's investment portfolio?
The investment portfolio of the Fund is managed by Mulvihill Capital Management Inc., which employs a strategic and quantitative approach to ensure efficient asset management.
Where can I find more information about the Fund?
More information about the Mulvihill Premium Yield Fund can be found on their official website at www.mulvihill.com, or by contacting their Investor Relations department.
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