Jovian Capital Corp. and subsidiaries Jovian Asset Management Inc., Leon Frazer & Associates Inc., Accumulus Management Ltd. and Gibraltar Consulting Group — collectively known as the Jovian Group — announced on Thursday that the RBC IA Leon Frazer Yield Deposit Notes Series 5 and 6 closed for sale after successfully reaching approximately $50,000,000 in sales.
These deposit notes are linked to a portfolio comprised of Canadian equities, Canadian income trusts and potentially bonds in which allocations are based on a dynamic rebalancing strategy.
The equity and income trust sub-portfolios are managed by Leon Frazer. The equity portion will have similar investment objectives to the IA Canadian Conservative Equity Fund. The RBC IA Leon Frazer Yield Deposit Notes Series 5 provide monthly coupons equivalent to 100% of the distributions received on the equity and income trust sub-portfolios.
The RBC IA Leon Frazer Yield Deposit Notes Series 6 (Return of Capital Series) provide monthly partial principal repayments equivalent to 100% of the distributions received on the equity and income trust sub-portfolios. The structure of these notes will provide 100% initial exposure to the equities and income trusts at issuance, with the potential for 200% exposure in strong market conditions.
“We are very pleased with the sales of the RBC IA Leon Frazer Yield Deposit Notes Series 5 and 6. We now have over $130 million in aggregate in Series 1 through 6,” says Raj Lala, spokesman for the Jovian Group. “This resulted from teamwork and partnership amongst all three parties involved: RBC, IA Clarington and the Jovian Group. The notes are a good investment product for those investors seeking principal protection, regular distributions and capital growth potential.”
Jovian subsidiaries announce successful closing of deposit notes
Notes provide principal protection, regular distributions and capital growth potential
- By: IE Staff
- June 1, 2006 June 1, 2006
- 15:21