TORONTO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (“Ninepoint Partners”) today announced the final August 2024 notional capital gains and cash distributions for the ETF Series securities of Ninepoint High Interest Savings Fund (the “Fund”). The distribution is in connection with the Fund revising its investment strategy to meet the definition of a “money market fund” as set out in National Instrument 81-102 Investment Funds (NI 81-102) effective September 3, 2024. This distribution aims to optimize the tax position of the Fund at year-end.
The notional capital gain distribution will be reinvested in additional units of the Fund’s ETF Series securities. The additional units will be immediately consolidated so that the number of units outstanding following the distribution will equal the number of units outstanding before the distribution. The record date for the notional capital gains distribution is August 29, 2024, payable on September 6, 2024. The record date for the cash distribution is August 30, 2024, payable on September 9, 2024.
The information included in this letter is for reference purposes only. Please reconcile all information against your official client statements. This is not intended to be a statement for official tax reporting purposes or any form of tax advice. The actual taxable amounts of distributions for 2024, including the tax characteristics of the distributions, will be reported to CDS Clearing and Depository Services Inc. in early 2025. Securityholders can contact their brokerage firm for this information.
The per-unit final August distributions are detailed below:
| Ninepoint ETF Series | Ticker | Cash Distribution per unit | Notional Capital Gains Distribution per unit | CUSIP |
| Ninepoint High Interest Savings Fund | NSAV | $0.27005 | $0.03644 | 65443X105 |
About Ninepoint Partners
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Alternative Income and Real Assets, in addition to North American and Global Equities.
For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at 416.362.7172 or 1.888.362.7172 or invest@ninepoint.com.
Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.
Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.
Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.
The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund's performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.
Sales Inquiries:
Ninepoint Partners LP
Neil Ross
416-945-6227
nross@ninepoint.com
