1. TSX:SPFD reported a $0.79 million decline in net assets. 2. Net assets per Unit are now $9.23 as of June 30, 2025. 3. Cash distributions of $0.50 per Unit were paid despite asset decline. 4. The Fund aims for a 10% yield and capital growth. 5. Investment managed by Mulvihill Capital Management Inc.
The decrease in net assets and losses indicate underlying weaknesses that may discourage investors, reminiscent of previous downturns in trust funds where performance degradation led to significant asset reductions.
The reported losses and asset decline are likely to affect market confidence in SPFD, prompting cautious trading behavior.
The immediate effect of reported losses could lead to investor sell-off in the short term, but potential stability may return if yields are maintained.
TORONTO, Aug. 29, 2025 (GLOBE NEWSWIRE) -- (TSX:SPFD) Mulvihill Enhanced Split Preferred Share ETF (the "Fund") announces results of operations for the six months ended June 30, 2025. Decrease in net assets attributable to holders of Units amounted to $0.79 million or $0.41 per Unit. Net assets attributable to holders of Units as at June 30, 2025 were $18.94 million or $9.23 per Unit. Cash distributions of $0.50 per Unit were paid to unitholders during the period.
The Fund is a mutual fund investment trust that seeks to provide unitholders with (a) monthly distributions and (b) the opportunity for capital preservation through exposure to a portfolio consisting primarily preferred shares offered by Canadian split share corporations listed on a Canadian exchange. The Fund may also seek to acquire preferred shares of split share corporations in their initial public or follow on offerings. The Fund may also hold Class A shares of Canadian split share corporations listed on a Canadian exchange at the discretion of the Manager. The Fund seeks to achieve a 10.0 percent yield, with additional capital growth potential beyond such yield target.
The Fund's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. The Fund's Units are listed on Toronto Stock Exchange under the symbol SPFD.
| Selected Financial Information: ($ Millions) | |||
| Statement of Comprehensive Income For the six months ended June 30, 2025 (Unaudited) | |||
| Loss (including Net Loss on Investments) | $ | (0.22 | ) |
| Expenses | (0.57 | ) | |
| Decrease in Net Assets Attributable to Holders of Units | $ | (0.79 | ) |
For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.mulvihill.com.
| John Germain, Senior Vice-President & CFO | Mulvihill Capital Management Inc. 121 King Street West Suite 2600 Toronto, Ontario, M5H 3T9 416.681.3966; 1.800.725.7172 www.mulvihill.com info@mulvihill.com |
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