Continuous distribution in integral multiples of a pre-defined block of units. Lower trading costs and realized gains due to minimal trading. Redemption Redemptions accepted from any unitholder, in kind or in cash. In-kind redemptions follow the reverse of the subscription process. Prescribed unit and par value sizes remain the same.
Fund pays cash balancing amount to redeemer at time of next distribution.
Cash redemptions at a discount to closing market price of units on the day that the redemption order is received. Income The Fund will earn coupon income, interest on coupon income invested in short-term securities between distributions, and securities lending income. All income, net of expenses, will be deposited into a distribution account. The Fund will be able to lend its securities for a fee, upon receipt of acceptable collateral. Single, capped fee, including GST to be announced.