Stone Covered Call Canadian Banks Plus Fund
Fund FactsFund Details
Fund Type
Financial Services
Fund Mandate
Pure Yield
Manager
Stone Asset Management Limited
Portfolio Manager
Stone Asset Management Limited
Fund Net Assets
$11.1 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
- Invest in a portfolio of Canadian Big Six banks plus sub-sector of financial services index.
- Investment solution that generates additional income by employing a covered call option strategy.
- Target covered calls to overwrite approximately 33% of each fund investment.
- Skill-based asset management team providing performance within a Pure Yield mandate.
- Ideal for an investor with a medium to long-term investment horizon and a need for steady tax-efficient monthly income.
Portfolio Managers
Michael Giordano, CPA, CA, MBA, CIM
Vice President, Investments
Manager Start Date: 2005Experience: 22 years of Investment Management
René Fantin, MBA, CFA
Vice President, Investments
Manager Start Date: 2015Experience: 6 years of Investment Management
Purchase Options
| Series | Current NAVPS | Prior NAVPS | NAVPS Change | Net Asset Value | Last Updated | ||
|---|---|---|---|---|---|---|---|
| A | $ 10.8116 | $ 10.8044 | 0.07% | $ 4,140,604.84 | 2022-12-01 | ||
| F | $ 11.3393 | $ 11.3315 | 0.07% | $ 6,613,972.61 | 2022-12-01 | ||
| O | $ 9.9035 | $ 9.8962 | 0.07% | $ 78,097.99 | 2022-12-01 | ||
| PTF | $ 10.6749 | $ 10.6675 | 0.07% | $ 74,724.38 | 2022-12-01 | ||
| * 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 | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| F | 3.7 | (1.4) | (5.6) | (10.2) | (8.7) | 5.3 | 4.1 | n/a | 6.6 | 2014-07-17 |
| Last Update: 10-31-22 | ||||||||||
CALENDAR RETURNS
| Series | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| F | 31.5 | (3.5) | 22.1 | (13.4) | 10.4 | 19.4 | (3.2) | 0.9 | - | - | - |
Growth of $10,000 Since Inception (Series F)
Portfolio Composition (%)
Top 10 Holdings (%)
| HOLDINGS | ||
|---|---|---|
| 1 | National Bank of Canada | 8.2% |
| 2 | Bank of Montreal | 8.2% |
| 3 | Royal Bank of Canada | 8.0% |
| 4 | Toronto-Dominion Bank | 7.8% |
| 5 | Canadian Imperial Bank of Commerce | 7.5% |
| 6 | Manulife Financial Corp. | 6.0% |
| 7 | Great West Lifeco | 5.5% |
| 8 | Bank of Nova Scotia | 5.5% |
| 9 | Power Corp. of Canada | 5.1% |
| 10 | Sun Life Financial Inc. | 4.5% |
| TOTAL | 66.3% | |
Fund Management Expense Ratio
| As of December 31, 2021 | |
|---|---|
| A | 2.73% |
| F | 1.70% |
| PTF | 1.45% |
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