Toronto-based Lawrence Asset Management Inc. has filed a preliminary prospectus for the offering of its most recent investment fund, Lawrence Conservative Payout Ratio Trust. The closed-end fund will invest in a portfolio of 40 Canadian income trusts that have low estimated payout ratios (the percentage of its cash flow expected to be distributed to its security holders). The income trusts included in the portfolio will be business and industrial funds, real estate investment trusts or pipeline and power generation funds that have been listed on the TSX for a minimum of 12 months. “This product is for the conservative investor who’s looking for some income every month and wants to avoid any blow-ups in the income trust sector,” says Jeff Bennett, a sales representative at Lawrence in Toronto. Sales commissions are 2.8%, with a trailing commission of 0.3% (paid quarterly). Management fee is 0.45%. Units are $10.