Brascan SoundVest Total Return Fund Increases Monthly Distribution by 7%.TORONTO -- Brascan SoundVest Total Return Fund (the "Fund") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BST (convention) BST - British Summer Time. The name for daylight-saving time in the UK GMT time zone. .UN) is pleased to announce that it has increased its anticipated monthly distribution by 7%, from $0.0583 per trust unit ($0.70 per unit annually) to $0.0625 per trust unit ($0.75 per unit annually). This increase represents an anticipated yield (based on the original issue price of $10.00 per unit) of 7.5%, up from 7.0% previously. This increase is the result of the Fund's strong financial position, current holdings and the Manager's near term outlook for the Canadian income trust and equities market. Since the inception of the Fund on October 15, 2004, the Fund's NAV See navigation system and navigation bar. per trust unit has increased 19.6%, from $9.4140 to $11.2620 and has met all of its distribution targets. The increased monthly distribution of $0.0625 per trust unit will be payable on October 15th to unitholders of record on September 30th. The Brascan SoundVest Total Return Fund is an actively managed investment fund, whose investment objective is to provide unitholders of the Fund with a stable stream of monthly distributions, and maximize long term total return to unitholders. The Fund is managed by a subsidiary of Brascan Asset Management Inc. The investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and portfolio manager for the Fund is SoundVest Capital Management Ltd. ("SoundVest"), which is 50% owned by Brascan Corporation (NYSE/TSX:BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) ). SoundVest is an established investment advisor, providing investment management services to pension funds, trusts and foundations. The Fund is listed on Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BST.UN. Note: This press release may contain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe", "expect", "anticipate", "intend", "estimate" and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forward in the forward looking statements include general economic conditions, interest rates, availability of equity and debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay and other risks detailed from time to time in the company's 40-F filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Brascan SoundVest Total Return Fund (TSX:BST.UN) |
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