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Tech Leaders Income ETF

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  • Closing Price (Jan 16, 2019) $11.16
  • Distribution $0.054
  • Distribution Rate (Jan 17, 2019) 5.89%
  • Distribution Frequency Monthly
  • Management Style Active with Covered Calls
  • Management Fee 0.75%
  • NAV (Jan 15, 2019) $11.15
  • Total Assets (Dec 31, 2018) $32 Million

This ETF provides high monthly distributions and the opportunity for capital gains through an investment in an actively managed portfolio of large cap global Technology companies selected by Brompton, complemented by a proprietary covered call program.

Our PM team first uses top-down analysis to identify attractive sub-sectors. Rigorous fundamental analysis focuses the portfolio on 15 to 20 global Technology companies which offer a combination of growth and value characteristics. The PMs then actively set the level of covered call writing (up to a maximum of 33%), with the goal of optimizing distributable cash and total returns.

Why Invest in Technology?

  • Tech sector is profitable, with minimal debt, and significant free cash flow
  • Under-represented sector in the Canadian equity market; global Technology equities provide diversification benefits
  • Long term trends are supportive of Technology equities

This ETF is for Investors who are:

  • Seeking stable monthly cash distributions.
  • Seeking opportunity for capital appreciation and lower overall volatility of portfolio returns than would otherwise be experienced by owning securities of technology companies directly.
  • Can handle the ups and downs of the stock market.

FUND FACTS

  • Ticker
    TLF
  • CUSIP
    878258102
  • Outstanding (Jan 17, 2019)
    2,952,854
  • Inception Date
    May 20, 2011
  • ETF Conversion Date
    April 3, 2018
  • MER(1)
    0.95%
  • Currency
    Hedged to CAD
  • Manager/Portfolio Manager
    Brompton Funds Limited
  • Auditor
    PricewaterhouseCoopers LLP
  • Custodian
    CIBC Mellon Trust Company
  • Transfer Agent
    TSX Trust Company
  • Eligibility
    All registered and non-registered accounts

Manager/Portfolio Manager

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with over $2 billion in assets under management. Brompton’s Portfolio Management team specializes in Canadian and global equity investments and is a leading manager of covered call writing strategies in Canada.

Tech Leaders Income ETF

Summary of Investment Portfolio as at December 31, 2018

Total Net Asset Value$31,448,755.00

Holdings

% of Portfolio% of Net Asset Value
Keysight Technologies Inc.6.3%6.4%
Alphabet Inc.6.1%6.1%
Intel Corporation5.8%6.0%
Verizon Communications Inc.5.8%5.9%
Microsoft Corporation5.7%5.8%
Adobe Inc.5.7%5.8%
Mastercard Incorporated5.6%5.8%
Cisco Systems Inc.5.5%5.7%
Visa Inc.5.5%5.7%
Amphenol Corporation5.5%5.7%
Crown Castle International Corp.5.5%5.7%
Fiserv Inc.5.5%5.6%
Amazon.com Inc.5.3%5.5%
Oracle Corporation5.3%5.5%
CDW Corporation5.2%5.4%
Motorola Solutions Inc.5.2%5.4%
Accenture PLC5.2%5.3%
Apple Inc.4.9%5.1%
Cash and short-term investments0.4%0.4%
Total100%102.8%
Performance NAV History

Annual Compound Returns(1)

YTD1-Year3-YearSince Inception(2)
Brompton Oil Split Corp. - Class A(98.9%)(98.9%)(78.0%)(73.3%)
S&P/TSX Capped Energy Index(26.6%)(26.6%)(2.9%)(9.6%)
S&P/TSX Composite Index(8.9%)(8.9%)6.4%1.5%
Brompton Oil Split Corp. - Preferred 5.1%5.1%5.1%5.1%
S&P/TSX Preferred Share Index(7.9%)(7.9%)3.8%(0.1%)
Brompton Oil Split Corp. - Unit(30.7%)(30.7%)(9.7%) (13.4%)

Year-by-Year Returns

Since Inception(2)2018201720162015
Brompton Oil Split Corp. - Class A(73.3%) (98.9%)(37.8%)57.8%(42.3%)
Brompton Oil Split Corp. - Preferred5.1% 5.1% 5.1%5.1%4.3%
Brompton Oil Split Corp. - Unit(13.4%) (30.7%)(15.7%) 26.3%(22.2%)
S&P/TSX Capped Energy Index(9.6%) (26.6%)(10.6%)39.6% (25.7%)
S&P/TSX Composite Index1.5% (8.9%)9.1%21.1%(11.8%)

The tables show the past performance of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future. The information shown is based on Net Asset Value per Class A share and per unit, or the redemption price per Preferred share and assumes that distributions made by the Fund on the Class A shares, Preferred shares and units in the periods shown were reinvested (at Net Asset Value per Class A share and per unit, or the redemption price per Preferred share) in additional Class A shares, units and Preferred shares of the Fund.

The table shows the Fund’s compound return on a Class A share, Preferred share and unit since inception compared with the S&P/TSX Capped Energy Index (“Energy Index”) and the S&P/TSX Composite Index (“Composite Index”) and the S&P/TSX Preferred Share Index (“Preferred Share Index”). The Energy Index is derived from the Composite Index and tracks the performance of equity securities that are in the energy sector of the TSX. The Composite Index tracks the performance, on a market-weight basis, of a broad index of large-capitalization issuers listed on the TSX. . The Fund invests, on an approximately equal-weight basis, in a portfolio comprised of at least 15 large-capitalization North American oil and gas companies whichare in both the Energy Index and the Composite Index. Since the indices have more diversified portfolios, it is not expected that the Fund’s performance will mirror that of the indices. Further, the Energy Index and the Composite Index are calculated without the deduction of management fees and fund expenses, whereas the performance of the Fund is calculated after deducting such fees and expenses.

Returns for Brompton Oil Split Corp. are unaudited.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and does not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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Distributions

Distributions from the Fund have tax benefits which results in higher after-tax cash flow than if the income had been earned as interest income.

It is expected that distributions to unitholders will primarily be characterized as combination of capital gains and return of capital, but may also include ordinary dividends.

The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March. This information will also be posted on the website as soon as it is available.

This information is of a general nature only and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.

DRIP

Investors may elect to automatically reinvest their distributions in additional units of the Fund and realize the benefits of compound growth. Any units acquired pursuant to the distribution reinvestment program qualify for the service fee. DRIP Plan

Tax Allocation

The following information is applicable to holders who, for the purposes of the Income Tax Act (Canada), are resident in Canada and hold trust units as capital property. If this is not the case, a tax advisor should be consulted.

Holders of trust units outside of a RRSP, DPSP, RRIF, RESP or TFSA should expect to receive a T3 slip from their investment dealer. T3 supplementary slips will indicate Investment Income in Box 26, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Dividend Income in Box 23 and Box 49. Dividend income is subject to the standard gross up and federal dividend tax credit rules.

The return of capital component is a non-taxable amount that serves to reduce the adjusted cost base of the Fund units and is reported in Box 42.

Select a year
Record Date Payment Date Return of Capital Total Distribution
Dec 31, 2018 Jan 15, 2019 0.00000 0.05400
Nov 30, 2018 Dec 14, 2018 0.00000 0.05400
Oct 31, 2018 Nov 14, 2018 0.00000 0.05400
Sep 28, 2018 Oct 15, 2018 0.00000 0.05400
Aug 31, 2018 Sep 17, 2018 0.00000 0.05400
Jul 31, 2018 Aug 15, 2018 0.00000 0.05400
Jun 29, 2018 Jul 16, 2018 0.00000 0.05400
May 31, 2018 Jun 14, 2018 0.00000 0.05400
Apr 30, 2018 May 14, 2018 0.00000 0.05400
Mar 29, 2018 Apr 02, 2018 0.00000 0.05400
Feb 28, 2018 Mar 14, 2018 0.00000 0.05400
Jan 31, 2018 Feb 14, 2018 0.00000 0.05400
Total 0.00000 0.64800
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