A special meeting of unitholders will be held on August 12 in Toronto to consider changes to the declaration of trust of several Middlefield Income Funds, Middlefield Fund Management said Tuesday.

The proposed changes would affect MINT Income Fund, COMPASS Income Fund, INDEXPLUS Income Fund, YIELDPLUS Income Fund, STaRS Income Fund, ACTIVEnergy Income Fund, and Uranium Focused Energy Fund.

In anticipation of a continued reduction in the number of income trust issuers, unitholders of each fund will be asked to consider broadening the existing ability of the funds to invest in high income producing securities other than income trusts. Such securities would include common equities, preferred shares, convertible debt securities and corporate and government fixed income securities, Middlefield says.

“This amendment would conform to recent amendments made by other funds originally created to focus on the income trust sector and would benefit unitholders by enhancing the ability of the funds to meet their objectives of paying attractive regular distributions and preserving capital while offering the potential for growth.” Middlefield says.

Unitholders of each fund also will be asked to consider certain updating amendments to the declaration of trust of each fund at the meetings.

“The board of directors of the manager of each fund has determined that the approval of each of these amendments is in the best interests of each fund and, accordingly, recommends that unitholders vote in favour of each of the resolutions approving such amendments,” Middlefield says.

Details of the proposed amendments to the declaration of trusts will be mailed to unitholders in July.

IE