Canada’s Connor, Clark & Lunn offers fund-linked notes
Canada’s Connor, Clark & Lunn Capital Markets (CC&L) has launched the CC&L Tax-Efficient Notes (TEN). The BMO CC&L Bond Deposit Notes Series 1, issued by Bank of Montreal, is the first offering of TEN and is linked to the CC&L Core Plus Bond Fund.
The five-year notes are available in two classes. R.O.C. Yield Class is designed for investors seeking monthly cash flow. Distributions will be calculated at a rate equal to 75% of the net distribution rate of the fund, and paid monthly as a return of capital.
Total Return Class, meanwhile, is designed for investors seeking to maximize growth in a tax-efficient manner from an income investment. Returns remain invested to further enhance growth potential, and should not trigger a current-year tax
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