Premium Global Income Split Fund Closes Offering for Preferred and Class A Shares
News related to:Premium Global Income Split Fund · 1 min read
TORONTO, Sept. 18, 2026 /CourierPR/ -- Premium Global Income Split Fund (TSX: PGIC.PR.A; PGIC) has successfully completed a treasury offering, raising a total of $30,001,100 through the sale of 1,734,600 Preferred Shares and 1,587,993 Class A Shares. The Preferred Shares were offered at a price of $10.75 each, while the Class A Shares were sold at $7.15 each.
The fund, managed by Mulvihill Capital Management Inc., aims to generate income and reduce volatility through a diversified portfolio of primarily large capitalization global equity securities. Mulvihill employs an active covered call writing strategy and may also write cash covered put options in respect of securities in which it is permitted to invest. Additionally, the fund may invest up to 100% of its net assets in other public investment funds managed by Mulvihill.
The Preferred Shares are designed to provide a steady stream of income, with fixed cumulative preferential monthly cash distributions of $0.0625 per share, representing an annual yield of 7.50% based on the original issue price of $10.00. The Class A Shares, on the other hand, offer monthly distributions of $0.08 per share, equating to an annual yield of 9.60%.
The fund invests in a diversified portfolio of primarily large capitalization global equity securities actively selected by its manager and investment manager, Mulvihill. To enhance the income generated by the Fund’s portfolio and to reduce volatility, the Fund employs an active covered call writing strategy and may write cash covered put options in respect of securities in which it is permitted to invest. The Fund may also invest up to 100% of its net assets in other public investment funds (including investment funds managed by Mulvihill). In addition, the Fund is exposed to securities traded in foreign currencies and may, at Mulvihill’s discretion, enter into currency hedging transactions to reduce the effects of changes in the value of foreign currencies relative to the value of the Canadian dollar.