TORONTO, ONTARIO — (Marketwire) — 03/27/13 — Top 10 Canadian Financial Trust (the “Fund”) (TSX: TCT.UN) announces results of operations for the year ended December 31, 2012. Net increase in net assets from operations amounted to $3.0 million or $1.04 per unit. Net assets were $21.6 million or $9.08 per unit, net of distributions to unitholders in the amount of $1.9 million or $0.66 per unit.
The Fund-s investment objectives are to provide unitholders with a stable stream of quarterly cash distributions in an amount targeted to be 7.5% of the net asset value per unit and to return the net asset value per unit of $15.60 to unitholders upon termination of the Fund.
The Fund invests in the six largest Canadian banks and four largest Canadian life insurance companies by market capitalization, generally investing in not less than 5% and not more than 15% of the Fund-s assets in each company.
The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting (“SSO”), to enhance the income generated by the Portfolio and to reduce volatility. In addition, the Fund may write cash covered put options in respect of securities in which it is permitted to invest.
The Fund-s investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. Fund units are listed on Toronto Stock Exchange under the symbol TCT.UN.
For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit .
Contacts:
Strathbridge Asset Management Inc.
Aaron Ho
Vice-President, Finance
416.681.3966 or 1.800.725.7172
Strathbridge Asset Management Inc.
121 King Street West, Suite 2600
Toronto, Ontario, M5H 3T9