Why Invest?
- The Investment Manager believes that high-income common equities in Canada will continue to outperform non-dividend paying common equities
- 20+ year strategy focused on undervalued investments in the Canadian high income equity market
- Investment Manager, Bloom Investment Counsel, Inc. focuses on high income equity investments with over 35 years of experience
Investment Objectives
To achieve a high level of monthly cash distributions and the opportunity for capital appreciation by investing in a high income equity portfolio, consisting primarily of dividend paying Canadian equities.
This Fund is for Investors who are:
- Seeking capital appreciation
- Seeking income
- Comfortable with equity risk
FUND FACTS
- Ticker
RBN.UN - CUSIP
095819108 - Outstanding (Jan 28, 2024)
8,515,572 - Inception Date (CAD Hedged)
September 17, 1997 - Manager/Portfolio Manager
Brompton Funds Limited - Auditor
PricewaterhouseCoopers LLP - Currency
CAD - Custodian
CIBC Mellon Trust Company - Transfer Agent
TSX Trust Company - Eligibility
All registered and non-registered accounts - Annual Redemption Date
2nd last business day of November - Annual Redemption Notice Deadline
Last business day of October - Investment Manager
Bloom Investment Counsel, Inc.
Portfolio Manager
Bloom Investment Counsel, Inc. (“Bloom”) was established in 1985 and specializes in the management of segregated investment portfolios for wealthy individuals, corporations, foundations, institutions and trusts. In addition to its conventional investment management business, Bloom currently manages specialty high-yield equity portfolios comprised of dividend-paying common equity securities, income trusts, and real estate investment trusts. Bloom currently provides investment management services to four TSX-listed, closed-end portfolios.
Market Data provided by TMX, and powered by QuoteMedia
Blue Ribbon Income Fund
Summary of Investment Portfolio as at December 31, 2023
Total Net Asset Value$66,666,000
Top 25 Holdings
| % of Portfolio | % of Net Asset Value | |
|---|---|---|
| Goeasy Ltd. | 6.2% | |
| Ag Growth International Inc. | 6.1% | |
| Premium Brands Holdings Corp. | 5.9% | |
| Parkland Corporation | 5.7% | |
| Manulife Financial Corporation | 5.5% | |
| Sun Life Financial Inc. | 5.0% | |
| Chemtrade Logistics Income Fund | 4.9% | |
| Transcontinental Inc. | 4.6% | |
| Toronto-Dominion Bank | 4.5% | |
| Enbridge Inc. | 4.4% | |
| Keyera Corp. | 4.4% | |
| Canadian Tire Corp. | 4.2% | |
| TFI International Inc. | 3.8% | |
| Bank of Nova Scotia | 3.8% | |
| Gibson Energy Inc. | 3.7% | |
| Superior Plus Corp. | 3.6% | |
| Boralex Inc. | 3.4% | |
| Park Lawn Corporation | 3.4% | |
| Propel Holdings Inc. | 3.1% | |
| Northland Power Inc. | 2.9% | |
| Cash | 2.8% | |
| Altus Group Limited | 2.6% | |
| Telus Corporation | 1.9% | |
| Allied Properties REIT | 1.9% | |
| Rogers Communications Inc. | 1.9% | |
| Total | 0% | 100.2% |
1)The investment portfolio may change due to ongoing portfolio transactions of the investment fund. Quarterly updates are available on the Fund's website at www.bromptongroup.com within 60 days of each quarter end.
Performance NAV History
Growth of $10,000(1)
Annual Compound Returns(1)
| YTD | 1-Year | 3-Year | 5-Year | 10-Year | Since Inception(2) | |
|---|---|---|---|---|---|---|
| Blue Ribbon Income Fund | 9.2% | 9.2% | 6.6% | 7.0% | 2.8% | 8.6% |
Year-by-Year Returns
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Blue Ribbon Income Fund | 9.2% | (7.1%) | 19.3% | (5.1%) | 22.3% | (16.6%) | 2.6% | 30.0% | (13.3%) | (2.6%) | 14.9% | 4.1% |
(1) Returns are for the periods ended December 31, 2023.The table above shows 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 unit and assumes that cash distributions made by the Fund and deemed distributions based on the intrinsic value of the rights/warrants at approximately the exercise date of the rights/warrants in the periods shown were reinvested at Net Asset Value per unit in additional units of the Fund. The tables above show the Fund’s year-by-year and compound returns for each period indicated.
(2) Period from September 16, 1997 (commencement of operations) to December 31, 2022.
Returns for Blue Ribbon Income Fund (“RBN.UN”)are unaudited. Certain returns for RBN.UN were calculated based on publicly available information and accounting records in each case prepared by a prior administrator of RBN.UN.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units 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 units 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 unit 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.
Distributions
The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March as soon as possible following receipt of the information from the Fund’s individual holdings. 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 circ*mstances.
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 Other Income (Investment Income and Non-Investment Income) in Box 26, Foreign Business Income in Box 24, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Eligible Dividend Income in 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 | Capital Gains | Eligible Dividend | Foreign Non- Business Income Tax Paid | Other Income | Return of Capital | Total Distribution |
|---|---|---|---|---|---|---|---|
| Mar 28, 2024 | Apr 12, 2024 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Feb 29, 2024 | Mar 14, 2024 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Jan 31, 2024 | Feb 14, 2024 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Dec 29, 2023 | Jan 15, 2024 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Nov 30, 2023 | Dec 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Oct 31, 2023 | Nov 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Sep 30, 2023 | Oct 16, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Aug 31, 2023 | Sep 15, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Jul 31, 2023 | Aug 15, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Jun 30, 2023 | Jul 17, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| May 31, 2023 | Jun 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Apr 28, 2023 | May 12, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04000 |
| Total | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.48000 | |
As an investment expert with a comprehensive understanding of the financial markets and investment strategies, I'd like to delve into the details of the article you provided, focusing on key concepts and information.
1. Investment Manager and Strategy:
- The investment manager, Bloom Investment Counsel, Inc., has over 35 years of experience and specializes in managing segregated investment portfolios.
- The strategy involves a 20+ year focus on undervalued investments in the Canadian high-income equity market, particularly in dividend-paying common equities.
2. Blue Ribbon Income Fund Overview:
- Ticker: RBN.UN
- Inception Date (CAD Hedged): September 17, 1997
- Total Net Asset Value as of December 31, 2023: $66,666,000
3. Portfolio Composition:
- Top 25 Holdings, including companies like Goeasy Ltd., Ag Growth International Inc., Premium Brands Holdings Corp., etc.
- These holdings make up a significant portion of the portfolio, with percentages provided for both the portfolio and net asset value.
4. Performance Metrics:
- Annual Compound Returns (as of December 31, 2023):
- YTD: 9.2%
- 1-Year: 9.2%
- 3-Year: 6.6%
- 5-Year: 7.0%
- 10-Year: 2.8%
- Since Inception (September 17, 1997): 8.6%
- Year-by-Year Returns for 2023, 2022, 2021, and previous years.
5. Fund Distribution Information:
- Monthly cash distributions for investors seeking capital appreciation and income.
- Ticker: RBN.UN
- CUSIP: 095819108
- Annual Redemption Date: 2nd last business day of November
- Annual Redemption Notice Deadline: Last business day of October
6. Distributions and Tax Information:
- Distribution details for the months, including Record Date, Payment Date, Capital Gains, Eligible Dividend, Foreign Non-Business Income, Tax Paid, Other Income, Return of Capital, and Total Distribution.
- Information on the Distribution Reinvestment Program (DRIP) and tax allocation for Canadian residents holding trust units.
7. Legal and Risk Disclosures:
- Cautionary statements about past performance not guaranteeing future results.
- Mention of brokerage fees, ongoing fees, and expenses associated with owning units of the investment fund.
- Disclaimer about the general nature of the information provided and the recommendation for prospective investors to consult their own tax advisors.
In summary, the Blue Ribbon Income Fund managed by Bloom Investment Counsel, Inc. is positioned as a long-term, high-income equity investment with a focus on Canadian dividend-paying equities. The article provides a detailed overview of the fund's strategy, performance, portfolio composition, and distribution information. Investors are also advised on tax considerations and potential risks associated with the investment.
