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Quarterly Update - June 30, 2010
Overview
In early March, Covington announced that its Venture Fund Series IV (the “Balanced Shares”) formerly New Millennium Internet Ventures Fund (the “Fund”) met its objective of realizing long-term capital appreciation. The balanced shares have delivered an investment return of 4.79% per annum* since inception (in addition to the original 30% in tax credits received upon purchase). This investment performance has surpassed the targets set for the Fund at inception and positions the Fund as one of the top performing funds in its asset class.
Fund Performance*
As At June 30, 2010
|
Fund |
6 Months |
1 Year |
3 Years |
5 Years |
Since Inception |
| Series I |
2.41% |
-8.90% |
-1.35% |
N/A |
-2.46% |
| Series II |
1.25% |
-10.91% |
-3.31% |
N/A |
-3.40% |
| Series III |
1.56% |
-10.30% |
-2.58% |
N/A |
-2.75% |
| Series IV |
8.24% |
13.20% |
17.34% |
11.40% |
5.38% |
| Series V |
-8.02% |
-8.94% |
-10.96% |
-9.43% |
-5.30% |
| Series VI |
1.51% |
1.02% |
-0.19% |
-2.29% |
-1.66% |
| Series VII |
1.49% |
4.04% |
0.00% |
-2.26%
|
-2.32% |
| Series VIII |
1.60%
|
4.25%
|
N/A |
N/A |
1.13% |
| Series IX |
1.47%
|
3.94%
|
N/A |
N/A |
1.00% |
*Source: Globefund.com
Venture Fund - New Millenium Series IV - one of the "Top 25 Funds that Beat the 3-Year Performance of Government of Canada 5-Year Bond"
Feature Investee Profile
Protus IP Solutions
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Total Investment: $2.0 million
Initial Investment Date: December 2000
Location:
Ottawa, Ontario
Sector: Communications
Investment Structure: Equity
Investor Status: Board Status
Web: www.protus.com |
Protus IP Solutions provides corporate internet fax communication and voice messaging services to institutions in the financial services, real estate, pharmaceutical and retail industries around the world. Their product MyFax allows users to send and receive faxes from email and the web. Additionally, the Company provides high volume processing of voice and fax broadcasts. Protus IP, founded in 1997 counts communication leaders such as Telus and MCI as its business partners.
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