The Fund has been created to invest in an actively managed portfolio comprised primarily of equity securities of Canadian utility issuers, pipeline issuers and telecom issuers and select higher yielding equity securities of issuers which First Asset Investment Management Inc. believes will benefit from the near term economic environment in Canada and globally. First Asset believes that these sectors are significantly undervalued, offer attractive yields and/or rising payout ratios, and will benefit from renewed investor interest in businesses with higher yields and stable cash flows.

The Fund’s investment objectives are to provide holders of Units with:

1. monthly distributions; and
2. the opportunity for capital appreciation.

The distributions are initially targeted to be 6% per annum on the subscription price of $10.00 per Unit ($0.05 per Unit per month or $0.60 per annum).

On or about the second anniversary of the closing of the offering, the Fund will, subject to receipt of all required regulatory approvals, automatically either: (i) convert to an open-end mutual fund, or (ii) merge with an open-end mutual fund on a tax-deferred basis, to be managed by the Manager or an affiliate of the Manager.