Covington Fund II

Covington Fund II Update March 9, 2018

The Board of Directors of Covington Fund II Inc. (the “Fund”) has approved the re-opening of the Fund on Monday May 7th, 2018 at 10am EDT to allow for the redemption of approximately $10 million by Class A Shareholders (“Redemption Limit”).  The $10 million in cash proceeds has been generated by Covington while it continues the process of selling portfolio holdings to meet the contemplated redemption requirement of 20%, or approximately $18 million, of the net asset value of the Fund, as at the most recent fiscal year end and as set out in both the governing legislation and in the Fund’s prospectus disclosure.
 
As the Fund progresses in the wind up process, there are several portfolio companies that are well advanced in sale negotiations. Proceeds, depending upon the amounts and the timing of their receipt by the Fund, could allow for an additional re-opening of the Fund to complete further redemptions prior to the Fund’s year end of August 31, 2018.

 

>>>> Covington Fund II Redemption Resource Centre <<<<

 

 

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Key Holdings:

Apr. 22, 2018


This view is getting the list of Series for this fund.

912 961 980 981 982
957 958 959 960
SeriesFund CodeValue
Series I 912 961 980 981 982 $5.07
Series II 957 958 959 960 $4.82
Fund Code April 6, 2018March 29, 2018March 23, 2018March 16, 2018
912 961 980 981 982$5.09$5.10$5.18$5.19
957 958 959 960$4.83$4.85$4.92$4.94

Sponsors

In accordance with Provincial and federal legislation, labour sponsored funds are required to have a Sponsor. Covington is proud to have the Canadian Police Association (CPA) and the Association of Canadian Financial Officers (ACFO-ACAF) as our Co-Sponsors.

Canadian Police Association

Canadian Police Assocation logoCovington is proud of our long-standing relationship with the CPA who has sponsored the above Funds since their inception.  The CPA is the national voice for 41,000 police personnel across Canada. Membership includes police personnel serving in 200 police services across Canada, from Canada's smallest towns and villages as well as those working in Canada’s largest municipal and provincial police services, and members of the RCMP, railway police, and first nations police personnel.

 

Association of Canadian Financial Officers

The ACFO-ACAF is the national voice for Financial Officers across Canada. ACFO-ACAF works toward creating a competitive environment that will attract the best and brightest to want to work for the employer.