Guardian Group of Funds Ltd. (GGOF) announced Monday that it will reopen its popular GGOF Monthly Dividend Fund Ltd. to new investors after the close of business on July 4. GGOF is also changing the distribution frequency of GGOF Dividend Growth Fund from quarterly to annually.
GGOF Monthly Dividend Fund Ltd.’s goals are to provide tax advantaged monthly income and preserve capital. The fund has been structured to achieve these goals by investing at least 50% of its assets in high quality exchangeable/retractable fixed and floating rate preferred shares. In addition, the portfolio adviser will be permitted to invest up to 10% of the fund’s assets in high quality perpetual preferred shares.
GGOF is also changing the distribution frequency for GGOF Dividend Growth Fund. The fund has historically distributed modest income on a quarterly basis, which is administratively costly, but will now distribute both income and capital gains on an annual basis. GGOF says changing to an annual distribution frequency allows it to better manage cash flows within the fund.
GGOF announces changes to two funds
Reopens Monthly Dividend Fund Ltd.; changes distribution frequency of Dividend Growth Fund
- By: IE Staff
- July 1, 2008 July 1, 2008
- 14:30