Evolve Announces Estimated Annual Distributions for Certain Evolve Funds

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TORONTO, Nov. 29, 2024 /CNW/ - Evolve Funds Group Inc. ("Evolve") announces the estimated special year end cash income and non-cash notional reinvested income and capital gains distribution per unit (the "Distributions") for certain Funds (the "Evolve Funds") for the 2024 tax year.

These estimates are for the annual cash income and non-cash capital gains and income distributions. Non-cash capital gains and income distributions are typically reinvested in additional units of the respective Funds at the year-end, and do not include estimates of ongoing monthly or quarterly cash distribution amounts. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will equal the number of units outstanding prior to the distribution. The reinvestment and immediate consolidation of additional units will result in an increase in the adjusted cost base of units outstanding.

Evolve's estimates of cash income and non-cash capital gain and income distributions are for information purposes only, to aid with year-end tax and investment planning. These estimates are based on both preliminary and forward-looking information. Actual distributions may differ significantly from the estimates and some of the Funds may pay distributions above or below these estimated ranges, and Funds not currently expected to pay could be required to do so. These estimates are not intended to be used as tax advice. Because each investor's tax situation is unique, a qualified tax advisor should be consulted.

Evolve expects to announce the final annual cash and reinvested distribution amounts on or about December 31, 2024 for all Evolve Funds with record date of December 31, 2024. The actual taxable amounts of cash and reinvested distributions for 2024, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2025.

The estimates are as of October 31, 2024 and could change due to events that occur between the date of these estimates and the date of the Funds' taxation year end of December 31, 2024 for the High Interest Savings Account Fund, US High Interest Savings Account Fund, Premium Cash Management Fund and US Premium Cash Management Fund and of December 15, 2024 for all other Evolve Funds, and due to a number of factors.  These events and factors may include the following:

  • The full measurement period is not captured by these estimates.

  • Portfolio trading and market movements over the next several weeks.

  • Estimates are indicated on a per-share basis. Changes in the number of shares outstanding can have a significant impact on these estimates.

  • These estimates do not reflect all required tax adjustments. Certain tax adjustments are based on market value at a point in time and, therefore, cannot be estimated. Actual distribution amounts will be affected by all required tax adjustments and may be substantially different from these estimates.

  • The period for the Funds' taxation year may not correspond with the Funds' fiscal year. This misalignment can have an impact on the amounts distributed and their tax characteristics.