Premium Global Income Split Corp. Releases Financial Update
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Premium Global Income Split Corp. Announces Semi-Annual Results
Premium Global Income Split Corp. (TSX: PGIC; PGIC.PR.A) has recently released its semi-annual financial results, reflecting the operations for the first half of the fiscal year. The company reported an increase of $0.43 million in net assets attributable to holders of Class A shares, translating to $0.50 per Class A share. As of the reporting date, net assets for these shares totaled $3.59 million, which corresponds to $8.03 per share. In addition, cash distributions amounting to $0.26 per Preferred share were successfully distributed during this period.
Investment Focus and Strategy
This mutual fund corporation actively invests in a diversified portfolio, primarily consisting of large capitalization global equity securities, representing a broad 'Portfolio Universe.' The strategy allows for up to 100% of its net assets to be invested in other public investment funds, including those managed by its Manager, enhancing both diversity and potential returns.
The company manages exposure to foreign currencies and may engage in currency hedging transactions to mitigate the impact of currency fluctuations relative to the Canadian dollar. This ensures a more stable investment performance amidst changing global economic conditions.
Active Investment Management
The Fund's approach to investment includes a proven active covered call writing strategy. This method is designed to increase income production from the portfolio while simultaneously reducing volatility, which can often be a challenge in fluctuating markets. Additionally, the Fund is permitted to write cash-covered put options on suitable securities.
Financial Highlights
The Fund's investment operations are overseen by Mulvihill Capital Management Inc., ensuring a robust management team is at the helm. The shares of the Fund, both Class A and Preferred, are publicly traded on the Toronto Stock Exchange under the symbols PGIC and PGIC.PR.A.
Key Financial Metrics
To provide additional clarity about the Fund's performance, selected financial information is as follows:
- Gain (including Net Gain on Investments): $0.89 million
- Expenses: ($0.23 million)
- Operating Gain: $0.66 million
- Preferred Share Distributions: ($0.23 million)
- Increase in Net Assets Attributable to Holders of Class A Shares: $0.43 million
These figures reflect a solid performance for the Fund as it navigates through the complexities of the current investment landscape.
Contact for More Information
For more details on the Fund's performance or general inquiries, investors can reach out to Investor Relations at 416.681.3966 or toll-free at 1.800.725.7172. More information can also be found on their official website.
John Germain, Senior Vice-President & CFO
Mulvihill Capital Management Inc.
121 King Street West, Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
info@mulvihill.com
Frequently Asked Questions
What are the recent financial results of Premium Global Income Split Corp.?
The company reported a net asset increase of $0.43 million for Class A shares, bringing total net assets to $3.59 million as of the reporting date.
How much was distributed to Preferred shares during this period?
Cash distributions of $0.26 per Preferred share were made during the reporting period.
What investment strategy does the Fund employ?
The Fund employs an active covered call writing strategy aimed at enhancing income and mitigating volatility in the portfolio.
Who manages the investment portfolio for the Fund?
The investment portfolio is managed by Mulvihill Capital Management Inc., a seasoned investment manager.
What stock exchange are the Fund's shares listed on?
The Class A and Preferred shares of the Fund are listed on the Toronto Stock Exchange under the symbols PGIC and PGIC.PR.A respectively.
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