Income Financial Trust raises $90-million in IPO

Article Abstract:

Income Financial Trust has generated C$90 million in an IPO of trust units and is planning to invest the proceeds in a diverse group of Canadian and US financial services firms. The company plans to offer an annual yield of 8.5% on the units, more than the existing return on long-term Canada brands. Income Financial intends to invest in companies belonging to the TSE Financial Services Index, S&P Financials Index or the S&P MidCap Financial Index.

Organizational history, Income Financial Trust

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Royal Energy rides oil and gas wave

Article Abstract:

The Royal Bank of Canada's Royal Energy Fund has boosted its exposure to energy producers and oil field services companies. Around 83% of the portfolio was invested in oil and gas producers as of June 30, 1999, after reducing exposure to integrated oils. The shift in portfolio strategy was due to the surging prices of crude oil and strong natural gas prices. The fund was up by 39.3% for the eight-month period ended Aug 31, 1999.

Financial analysis, Investment companies, Royal Bank of Canada

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