A NAV above $75 indicates appreciation in the portfolio.*
Rolled Over
$92.85
62%
Rolled Over
$65.78
21%
Rolled Over
$45.67
-20%
Rolled Over
$63.11
20%
Rolled Over
$102.97
85%
*
The beginning NAV is normally $75 to $80 after factoring in 10% issue costs (expenses related to creating, selling and operating the fund) and the average 10-15% premium paid for flow-through shares.
NAV is per initial $100 investment. The Terra 2007, 2008 & 2009 portfolios are invested in both the energy and mining sectors.
**
Returns for the Terra FTLPs are calculated based on the NAV of the partnership on the date of rollover into a corporate class mutual fund. The after-tax returns on at-risk capital have been calculated based on an Ontario taxpayer who pays tax at the highest marginal tax rate.
For investors with unused capital losses, the after-tax returns will be higher.
***
The 2005 and 2006 portfolio returns are hypothetical and show the returns of a combined and equal investment in each individual energy & mining flow-through partnership on the rollover date.
