Tax
1. When are tax credit receipts issued?
Rest of year (ROY) receipts are generated in late January. Beginning in February, receipts are generated and mailed on a daily basis directly to shareholders.
2. What type of tax credit receipts are issued?
Covington issues the Provincial tax reciept (OIEO) which may be used to claim both the Federal and Provincial tax credits.
About Covington
1. What makes Covington different from other retail venture investors?
Covington is one of the few retail venture investors to employ an equity focused approach to investing. We beleive that this "pure venture capital" concept provides for stronger long-term return potential. Additionally, Covington typically takes a Board seat on our investee companies which allow us a significant voice in how our companies are run. Most debt based investors do not have a seat on the Board, and therefore, do not have input as to how the company is run. We believe in a hands-on investment strategy that ties the return of the investment directly to the success of the company - thus providing for "unlimited" return potential as the company continues to grow and succeed.
2. Why does Covington concentrate on equity style investment structure?
Covington believes that the strongest venture capital portfolios are built on equity based investments. Equity structured investments do not limit the return potential of an investment the way a debt structure investment would. Therefore, the more successful the enterprise, the higher return the investment will generate upon exit. In addition to "straight equity" investments, Covington will also employ convertible debt structures to provide the potential for steady returns earlier in the investment with the ability to convert into an equity structure at a later date.
3. How many investments does Covington make a year?
As Covington's venture portfolios continue to mature, the investment focus shifts from making new investments to providing follow-on financing to existing portfolio holdings. Mature funds, such as Covington Fund II, are not seeking to make new investments, while a younger fund such as Covington Strategic Capital Fund may do 1-3 new investments in a year; in addition to providing follow-on capital to its existing portfolio holdings.
Sales and Service
1. How can I obtain a list of which Covington Funds my clients are currently invested in?
Covington is able to provide you with an up to date listing of all your clients and their current holdings in either electronic or hard copy format. To obtain this list please contact your Covington sales representative at 1-866-244-4714 or our client services team at 1-888-746-4751.
2. What types of sales support service can Covington provide me?
Covington's sales team is equipped with a number of strategies you can implement to build your retail venture capital business while supporting your existing client base. We are able to provide you with a suite of sales support materials, fund information and administrative forms, as well as co-op support programs tailored to meet your specific needs. Contact your Covington sales representative to learn more.
3. How do I obtain marketing and sales materials?
Covington's client service team at CI has a full complement of sales and marketing materials on hand. Simply call CI's client service team at 1-888-746-4715 to order your materials.
4. How do I update my information at Covington?
Should any of your information change, simply call your Covington sales representative directly and they will be happy to update or records. Alternatively, simply call us at 1-866-244-4714 or e-mail us at info@covingtonfunds.com and one of our Inside Sales Associates will make the necessary updates on our system.
