Toronto-based Jovian Capital Corp. has announced that its wholly owned subsidiary Accumulus Management Ltd. is involved in the launch of Province of Manitoba Portfolio Allocation Notes, Series 1. The notes are linked to a portfolio of
16 income trusts and stocks, and pay quarterly coupons equal to 100% of the ordinary cash distributions on the fund’s underlying equities and the final variable coupon payable at maturity. “We feel this note will be well-suited to investors who have a primary investment objective of capital preservation with the potential for strong distributions and growth,” says Raj Lala, president of Jovian subsidiary Gibraltar Consulting Group.
Commissions are 5%, with a 0.3% annual trailer. Minimum investment is $5,000. Management fees are 2.75%.
Jovian launches principal-protected note
- By: Lara Hertel
- August 31, 2005 June 1, 2019
- 11:01