Middlefield INDEXPLUS Income Fund

Fund Description

The Fund invests in a diversified portfolio of equity income securities of which a portion tracks the S&P/TSX Composite High Dividend Index. The remainder of the portfolio is actively managed to enhance returns and reduce the risks associated with indexing while maintaining low-cost exposure to the underlying equity income market.

The S&P/TSX Composite High Dividend Index is a strategy index consisting of 50 to 75 stocks selected from the S&P/TSX Composite Index focusing on dividend income. The index is market-capitalization weighted, with stocks capped at 5% and each sector capped at 30%. The index rebalances quarterly on the same schedule as the S&P/TSX Composite Index.

Key Reasons to Invest:

  • exposure to a portfolio which is designed to enhance returns and reduce the risks associated with indexing while providing tax efficient monthly distributions
  • a portfolio focused on high-quality large-cap companies primarily in the utilities, financial and real estate sectors
  • focus on dividend-paying companies which benefit investors by dampening the volatility associated with investing in equities and provide a viable alternative to investors during both low and higher interest rate cycles

 

Fund Overview

  • Fund Codes:
    FE: MID435 / F Series: MID436
  • Inception Date:
    August 15, 2003
  • Monthly Distribution:
    $0.05
  • Advisor:
    Middlefield Capital Corporation
  • Eligibility:
    RRSPs, RRIFs, DPSPs, RESPs and TFSAs
  • Management Fee:
    A: 1.50% / F: 0.50%
  • Risk Rating:
    Medium

Fund Managers

Headshot of Robert Lauzon
Robert F. Lauzon
Managing Director and Chief Investment Officer
Headshot of Dean Orrico
Dean Orrico
President and Chief Executive Officer

Performance (Series A)

 
AS OF 1 MONTH 3 MONTHS 6 MONTHS YEAR-TO-DATE 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE INCEPTION 2021 2020 2019 2018
December 31, 2022 -5.25% 0.06% -3.99% -5.08% -5.08% 4.30% 3.91% 4.27% 8.02% 24.78% -4.22% 21.76% -12.29%

Performance (Series F)

 
AS OF 1 MONTH 3 MONTHS 6 MONTHS YEAR-TO-DATE 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE INCEPTION 2021 2020 2019 2018
December 31, 2022 -5.15% 0.40% -3.49% -3.97% -3.97% 5.44% 5.07% 4.90% 8.35% 26.10% -3.19% 23.19% -11.34%

Distributions (Series A)

Total NAV & Distributions (since inception)  
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RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 29, 2022 December 30, 2022 0.05
November 29, 2022 November 30, 2022 0.05
October 28, 2022 October 31, 2022 0.05
September 29, 2022 September 30, 2022 0.05
August 30, 2022 August 31, 2022 0.05
July 28, 2022 July 29, 2022 0.05
June 29, 2022 June 30, 2022 0.05
May 30, 2022 May 31, 2022 0.05
April 28, 2022 April 29, 2022 0.05
March 30, 2022 March 31, 2022 0.05

Distributions (Series F)

Total NAV & Distributions (since inception)  
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RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 29, 2022 December 30, 2022 0.05
November 29, 2022 November 30, 2022 0.05
October 28, 2022 October 31, 2022 0.05
September 29, 2022 September 30, 2022 0.05
August 30, 2022 August 31, 2022 0.05
July 28, 2022 July 29, 2022 0.05
June 29, 2022 June 30, 2022 0.05
May 30, 2022 May 31, 2022 0.05
April 28, 2022 April 29, 2022 0.05
March 30, 2022 March 31, 2022 0.05

Fund Details

Sector Allocation (%)

As Of December 31, 2022
Financials 20.80%
Utilities 19.80%
Pipelines 15.50%
Energy 14.50%
Real Estate 14.20%
Industrials 8.00%
Communication Services 3.70%
Materials 3.50%

Geographic Allocation (%)

As Of December 31, 2022
Canada 97.20%
U.S. 2.80%
International 0.00%

Top 10 Holdings

1 Middlefield Real Estate Dividend ETF 14.20%
2 Topaz Energy Corp. 5.20%
3 TransAlta Corporation 5.10%
4 Capital Power 5.00%
5 Enbridge Inc. 5.00%
6 Altagas Ltd. 4.70%
7 Tourmaline Oil Corp. 4.60%
8 Cargojet Inc. 4.60%
9 Royal Bank Of Canada 4.50%
10 Bank of Montreal 4.30%
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