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U.S. Financials Income Fund

 

USF.UN
CLASS U

Fact SheetFact SheetFund UpdateFund Update

Fund Overview

Overview

The Fund is a closed-end investment trust that invests in an actively managed portfolio of U.S. financial issuers and U.S. publicly listed alterative asset management issuers. The Fund will utilize Strathbridge’s proprietary SSO covered call writing strategy to enhance the income generated by the portfolio and to reduce volatility.

Rationale

The U.S. financial sector (as defined by the S&P Global Industry Classification Standard) is one of the largest and most diversified sectors in the U.S. market consisting of multiple financial oriented sub-sectors including banks, diversified financials, insurance companies and real estate investment trusts. These companies provide broad exposure to the U.S. financial services industry through loans and mortgages, insurance and investment products and commercial real estate. The Manager believes that U.S. financial services companies are well positioned to benefit from the improving U.S. economy, including as evidenced by improving employment rates and housing statistics.

The Fund is appropriate for those investors looking for conservative large cap. exposure to the U.S. financial sector while earning attractive distributions and utilizing Strathbridge’s proprietary SSO covered call writing strategy to enhance the income generated by the portfolio and to reduce volatility.

Units

Class A Unit

  • Trade on the TSX under the ticker symbol USF.UN
  • Pays distributions in Canadian dollars

Class U Unit

  • Denominated in US dollars – NAV calculated in US dollars daily
  • Pays US dollar distributions
  • Redeemable in US dollars
  • Convertible into Class A units weekly

Distributions

Class A distributions 0f $0.50 per Class A unit per annum are paid in the amount of $0.125 each calendar quarter.

Class U distributions of US$0.50 per Class U unit per annum are paid in the amount of US$0.125 each calendar quarter.

Distributions are not fixed but are reviewed and set annually at the discretion of the Fund.

Portfolio

The portfolio will generally consist of 20-30 positions selected from those equity securities included in the S&P 500 Index that are classified as “financials” and “real estate” by Standard & Poor’s Global Industry Classification Standard, which have a market capitalization of at least US$10 billion and a S&P Rating of A- at the time of purchase. The Investment Universe will also include equity securities of publically listed Alternative Asset Managers which have a market cap. in excess of US$5 billion.

Top 10 Holdings as of September 30, 2017
Holding Name % of NAV
JPMORGAN CHASE & CO.      6.2%
CME GROUP INC      5.3%
CITIGROUP INC.      5.3%
AON PLC      5.2%
MORGAN STANLEY      5.2%
ISHARES U.S. BROKER-DEALERS & SECURITIES EXCHANGES ETF      5.1%
STATE STREET CORPORATION      5.1%
AMERIPRISE FINANCIAL INC      5.1%
PROLOGIS INC      4.9%
THE BLACKSTONE GROUP L.P.      4.8%
Sector Allocations

 

 

 Pricing
As of 12-14-2017
Current NAV for USF.UN: $8.45
Market Price: $8.20
Last Traded: 11-01-2017 3:31pm
Current NAV for Class U: $8.60
View Historical NAV  
 Quick Facts
Inception Date: 02-24-2015
Total Assets As of 09-30-2017: $17.51 mm
Management Fee: 1.25%
Service Fee: N/A
 Distributions & Tax
Current Distributions for USF.UN: $0.13
Current Yield: 6.1%
Current Distributions for Class U: $0.13
Current Yield: 5.00%
View Historical Distributions  
 News
2017-12-05
USF: Declares Quarterly Fund Distribution
2017-09-05
USF: Declares Quarterly Fund Distributions
2017-08-28
USF: Announces Semi-Annual Results
2017-05-29
USF: Declares Quarterly Fund Distribution
2017-03-22
USF: Announces Annual Results
View More News
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