Leon Frazer & Associates Inc., Accumulus Management Ltd. and Gibraltar Consulting Group today announce that the RBC IA Leon Frazer Yield Deposit Notes Series 7 and 8 closed for sale after successfully reaching over $60 million in sales.

The 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 & Associates Inc. The equity sub-portfolio has similar investment objectives to the IA Canadian Conservative Equity Fund.

The Series 7 notes provide monthly coupons equivalent to 100% of the distributions received on the equity and income trust sub-portfolios.

The Series 8 (Return of Capital Series) notes 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 provide 100% initial exposure to the equities and income trusts at issuance, with the potential for 200% exposure in strong market conditions.

Raj Lala, Managing Partner of Jovian Asset Management Inc., commented, “We have now reached a milestone with over $200 million in aggregate sales in Series 1 through 8 of this Note program in less than one year. This resulted from teamwork and partnership amongst all three parties involved: RBC, IA Clarington and Gibraltar Consulting Group.”