Stone Covered Call Canadian Banks Plus Fund
Fund FactsFund Details
Fund Type
Financial Services
Fund Mandate
Pure Income
Manager
Stone Asset Management Limited
Portfolio Manager
Stone Asset Management Limited
Fund Net Assets
$6.7 million
Distribution
For Series A and F: Monthly income and, in December, net capital gains. Distributions will be automatically reinvested unless you elect to receive them in cash. For Series T8A, T8B and T8C: Target annual rate of 8% of the security’s net asset value on the last day of the previous calendar year. Income or return of capital or both monthly and, in December, net capital gains. Distributions will be automatically reinvested unless you elect to receive them in cash.
Inception Date
July 17, 2014
Minimal Initial Investment
$1000 (Series A and F)
Why Invest
- Seeks to receive dividend and option premium income and seeks long-term capital appreciation.
- The portfolio manager will invest in a portfolio of securities in the financial sector.
- Employing a covered call option writing strategy on certain of its securities.
- Ideal for investor with medium-term investment goals who has a need for monthly income a sector-specific portfolio focusing on Canadian banks.
Portfolio Managers
Michael Giordano, CPA, CA, MBA, CIM
Vice President, Investments
Manager Start Date: 2005Experience: 21 years of Investment Management
René Fantin, MBA, CFA
Associate Portfolio Manager
Manager Start Date: 2015Experience: 5 years of Investment Management
Purchase Options
| Series | Current NAVPS | Prior NAVPS | NAVPS Change | Net Asset Value | Last Updated | ||
|---|---|---|---|---|---|---|---|
| A | $ 8.6961 | $ 8.6184 | 0.90% | $ 5,486,762.07 | 19-08-2019 | ||
| F | $ 9.0391 | $ 8.9580 | 0.90% | $ 1,052,801.78 | 19-08-2019 | ||
| O | $ 10.0000 | $ 10.0000 | 0.00% | $ 10.00 | 19-08-2019 | ||
| * Closed to new purchases. | |||||||
Fund Performance (%)
| Series | 1 Month | 3 Month | 6 Month | Year To Date | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| F | 1.0 | (1.2) | 5.8 | 13.3 | (0.6) | 6.9 | 4.8 | n/a | 4.7 |
| Last Update: 7-31-19 | |||||||||
CALENDAR RETURNS
| Series | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| F | (13.4) | 10.4 | 19.4 | (3.2) | 0.9 | ||||||
Growth of $10,000 Since Inception
Portfolio Composition (%)
Top 10 Holdings (%)
| HOLDINGS | ||
|---|---|---|
| 1 | Bank of Montreal | 8.5% |
| 2 | Bank of Nova Scotia | 8.4% |
| 3 | Toronto-Dominion Bank | 8.3% |
| 4 | Royal Bank of Canada | 8.3% |
| 5 | Canadian Imperial Bank of Commerce | 8.0% |
| 6 | National Bank of Canada | 7.9% |
| 7 | Power Financial Corp. | 5.0% |
| 8 | Brookfield Asset Management Inc., Cl. A | 5.0% |
| 9 | Great West Lifeco | 4.9% |
| 10 | Sun Life Financial Inc. | 4.8% |
| TOTAL | 69.1% | |
Fund Management Expense Ratio
| As of December 31, 2018 | |
|---|---|
| A | 3.42 |
| F | 2.37 |
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