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Bloom Investment Counsel, Inc. Announces Upcoming Termination of Bloom Select Income Fund

Written by Customer Service on . Posted in Public Companies.

TORONTO, Jan. 13, 2025 (GLOBE NEWSWIRE) — Bloom Investment Counsel, Inc. (the “Manager”), the manager of Bloom Select Income Fund (TSX: BLB.UN) (the “Fund”), announced today that the Fund will terminate on March 5, 2025 (the “Termination”).

Despite the Fund’s positive performance since inception, the Board of Directors of the Manager has determined that the Termination is in the best interests of the Fund and of the unitholders of the Fund because of the Fund’s small size, which has increased the MER and reduced trading liquidity for the Fund’s unitholders. On or before March 19, 2025, the Fund will distribute to each unitholder, in cash, their pro-rata share of the net assets of the Fund after all liabilities of the Fund have been paid or provided for.

An application for voluntary delisting of the Fund’s units from the TSX has been submitted. The proposed delisting date is March 5, 2025, which will be the last day on which the Fund’s units will trade on the Toronto Stock Exchange.

Unitholders of the Fund who wish to continue an investment in a fund with similar investment objectives to those of the Fund are encouraged to consider Blue Ribbon Income Fund, for which the portfolio manager is the same as the Fund. The investment objectives of Blue Ribbon Income Fund are to provide unitholders with high monthly distributions, together with the opportunity for capital appreciation. Unitholders may visit www.blueribbonincomefund.com or SEDAR+ at www.sedarplus.ca for more information. Unitholders are encouraged to contact their investment advisor for advice regarding the merits of an investment in Blue Ribbon Income Fund.

The Fund’s previously declared monthly distribution of $0.041674 per unit to unitholders of record as of December 31, 2024 will be paid on January 15, 2025. Thereafter, the Fund will discontinue the payment of monthly distributions and the funds that would have been distributed as part of the distributions for record dates in January and February, 2025 will form part of the net assets of the Fund to be paid to unitholders in connection with the Termination.

For further information please contact Unitholder Information at 416-861-9941 or 1-855-BLOOM18 (1-855-256-6618) or visit www.bloomfunds.ca

Commissions, management fees and other expenses may all be associated with investment funds. Please read the Fund’s publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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