Description

The Fund aims to provide investors with three core benefits: regular quarterly income payouts, the opportunity for asset growth, and greater stability in portfolio returns compared to directly holding shares of Canada's major banks. These banks include the Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia, and The Toronto-Dominion Bank. To achieve these goals, the Fund employs a strategy of monthly selling call options on roughly, but never exceeding, 25% of the common shares it holds for each individual bank in its portfolio.