Canadian Income Management

Snapshot

Canadian Income Management Inc. - Debentures
TSX Symbol/Fund Code: CAI.DB
Inception Date: February 21, 2006
Investment Type: Investment corporation
 
Canadian Income Management Trust - Trust units
TSX Symbol/Fund Code: CNM.UN
Inception Date: February 21, 2006
Investment Type:
 
Canadian Income Management Trust - Warrants
TSX Symbol/Fund Code: CNM.WT
Inception Date: February 21, 2006
Investment Type: Closed-end investment trust
 
Portfolio Manager:
J. Andrew Guy
Details
Portfolio Manager:
Sandy McIntyre
Details
Net Asset Value
NAVPU NAV Date
Canadian Income Management Trust - Trust units $0.00 November 27, 2008
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Market Price
Price Change As Of
Canadian Income Management Inc. - Debentures $70.00 $0.00 November 28, 2008
Canadian Income Management Trust - Trust units $0.09 $0.00 November 28, 2008
Canadian Income Management Trust - Warrants $0.01 $0.00 November 28, 2008
show all
 
Debenture Update
Due to the recent market volatility and the leveraged component of Canadian Income Management Limited Partnership, if the Corporation’s debentures were to mature today, the Partnership could repay approximately $81.00 of the principal amount per debenture (the debentures will mature on August 31, 2012).

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Product overview


Canadian Income Management allows Canadian and non-Canadian investors to take advantage of growth and income through the Canadian royalty and income trust market. The investment offers debentures, trust units and warrants.

Canadian Income Management Inc. is designed to provide debenture holders with semi-annual interest payments at a rate of 7.0% per annum. The debentures are structured so that interest paid to non-Canadian holders will not be subject to Canadian withholding tax. The Corporation meets the needs of income investors, both residents and non-residents of Canada, who want consistent income at an attractive rate.

Canadian Income Management Trust is designed to provide unitholders with semi-annual cash distributions, initially expected to be 7.75% per annum, and to preserve and potentially enhance the value of the portfolio. The warrants offer further participation in the growth of the Canadian royalty and income trust market by allowing investors to acquire one trust unit for one warrant at C$2.60. The warrants are structured so that non-Canadian holders will not realize a gain or loss when they exercise their warrants. The Trust meets the needs of investors, both residents and non-residents of Canada, who want to take advantage of professional management in the Canadian income trust market.

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Performance


Canadian Income Management Trust:

Average Annual Compound Returns - by Market Price  (as of October 31, 2008)

YTD
3 Month
6 Month
1 Year
3 Year
5 Year
SI
-23.1%
-63.6%
-70.6%
-47.4%
n/a
n/a
-56.4%

Annual Returns - by NAV

 
 
 
 
2007 
 2006
    
 13.1%
 -68.2%*
*For the period from February 21, 2006 to December 31, 2006.

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Distributions


Canadian Income Management Trust
2007
20061
Return of capital
-
0.07
Total distributions 2
-
0.07
1 Results are for the period from February 21, 2006 to December 31, 2006.
2 Distributions are based on the actual number of units outstanding at the relevant time.

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Portfolio managers

J. Andrew Guy, Portfolio Manager

Andrew joined Sentry Select in 2006; he specializes in equities.

Sandy McIntyre, Senior Vice-President and Chief Investment Officer

Sandy joined Sentry Select in 2000; he provides guidance and oversight to the investment management department.

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Portfolio holdings


Summary of investment portfolio (as of September 30, 2008):

Net Assets of the Trust.: $ 2,894,847
Net Assets of the Partnership: $ 2,809,196


Top 25 holdings: (unaudited)
Name of security

% of Net Assets

ARC Energy Trust5.34
Bonavista Energy Trust5.27
NAL Oil & Gas Trust3.76
Enerplus Resources Fund3.68
Provident Energy Trust3.59
Progress Energy Trust3.50
Bell Aliant Regional Communications Income Fund3.48
Baytex Energy Trust3.44
Inter Pipeline Fund L.P., Cl. A3.42
Crescent Point Energy Trust3.41
Fort Chicago Energy Partners L.P.3.35
Keyera Facilities Income Fund3.33
Freehold Royalty Trust3.32
Yellow Pages Income Fund3.18
AltaGas Income Trust3.18
Pembina Pipeline Income Fund3.04
Teranet Income Fund2.88
CML Healthcare Income Fund2.74
CI Financial Income Fund2.72
New Flyer Industries Inc.2.57
EPCOR Power L.P.2.53
Westshore Terminals Income Fund2.51
Northland Power Trust2.46
Atlantic Power Corp.2.33
Cominar REIT

2.26


Portfolio Breakdown: (unaudited)
Sector

% of Net Assets

Energy35.32
Utilities & infrastructure19.80
Industrials15.14
Power14.55
Real Estate Investment Trusts (REITs)8.29
Consumer2.74
Equities2.72
Resource1.44
Total Net Assets

100.00


 Canadian Income Management Inc. - summary of investment portfolio (as of September 30, 2008)

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