Lawrence Asset Management Inc. has taken further steps in the addition of a new investment fund. A preliminary prospectus has been filed with securities commissions in each of the provinces, for Lawrence’s initial public offering of units for the Lawrence Payout Ratio Trust II.

The new portfolio will consist of business and industrial funds, commodity-based trusts, real estate investment trusts and pipeline and power generation funds, in total 40 Canadian income trusts. Income trusts with at least $200 million in market capitalization, will be chosen due to their low payout ratios in accordance with fixed sector weightings. The trust will has to have been listed on the Toronto Stock Exchange for a year, and may not have suspended distribution for two.

The registered retirement savings plan-eligible units will be offered by a syndicate of agents, including the major banks, in each of the provinces for $10 a unit. However, the Lawrence Payout Ratio Trust II awaits authorization from the appropriate authorities.