Toronto-based Middlefield Group Ltd. has filed a preliminary prospectus for its Equal Sector Income Fund. The fund will be invested in each of the four income trust sectors, as classified by the Toronto Stock Exchange on an equal sector-weighted basis (25% per sector). It will be listed on the TSX after its initial public offering. Middlefield senior vice president Nancy Tham says the passively managed closed-end fund complements the company’s existing family of actively managed closed-end funds. “The fund lends itself to passive management, and we think it is a good way to diversify away from any concentration in any particular subsector within the income trust class,” Tham says. Management fees are 0.45%, with an approximate 1% MER.