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Press release from Marketwire

Canadian Utilities & Telecom Income Fund Announces Semi-Annual Results

Friday, August 16, 2013

Canadian Utilities & Telecom Income Fund Announces Semi-Annual Results

16:03 EDT Friday, August 16, 2013

TORONTO, ONTARIO--(Marketwired - Aug. 16, 2013) - Canadian Utilities & Telecom Income Fund (the "Fund") (TSX:UTE.UN)announces results for the six months ended June 30, 2013. Net increase in net assets from operations amounted to $0.7 million or $0.16 per unit. Net assets were $45.3 million or $11.85 per unit, net of distributions to unitholders in the amount of $1.9 million or $0.44 per unit.

The Fund's investment objectives are (i) to provide holders of its Units monthly distributions in an amount targeted to be 7.0% per annum on the net asset value ("NAV") of the Fund; and (ii) to preserve and enhance the Fund's NAV while reducing portfolio volatility.

The Fund achieves its investment objectives by investing in a portfolio consisting principally of equity securities of large capitalization (over $1 billion) Utilities and, to a lesser degree, Telecommunication Services issuers listed on the Toronto Stock Exchange ("TSX"). Issuers selected for inclusion in the portfolio must have a minimum distribution yield in excess of 2.0% per annum.

The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting ("SSO"), to enhance the income generated by the portfolio and to reduce volatility. The Fund may, from time to time, selectively write covered call options in respect of up to a maximum of 25 percent of the securities in the portfolio. In addition, the Fund may write cash covered put options in respect of securities in which it is permitted to invest.

The Fund's investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. The Fund's units are listed on TSX under the symbol UTE.UN.

Selected Financial Information : ($ Millions)
Statement of Financial Operations
For the six months ended June 30, 2013
Revenue $ 1.1
Expenses (0.7 )
Net Investment Income 0.4
Net Gain on Investments 0.3
Net Increase in Net Assets from Operations $ 0.7

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.


Contact Information:
Strathbridge Asset Management Inc.
Aaron Ho
Vice-President, Finance
416.681.3966 or 1.800.725.7172

Strathbridge Asset Management Inc.
121 King Street West, Suite 2600
Toronto, Ontario, M5H 3T9

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