Mulvihill raises $22M in overnight offering for global income split fund
What's the deal? Mulvihill Capital ManagementDealroom has a profile for this one. Try Dealroom → has raised roughly C$30 million (about $22 million) for its Premium Global Income Split Fund through an overnight treasury offering of preferred and Class A shares. The offering, co-led by National Bank FinancialDealroom has a profile for this one. Try Dealroom →, is expected to close on or around September 18, 2026, pending Toronto Stock Exchange approval.
The details: The fund issued 1,734,600 preferred shares at C$10.75 each and 1,587,993 Class A shares at C$7.15 each. Both classes trade on the TSX under existing tickers PGIC.PR.A and PGIC.
The yields: The preferred shares pay a fixed monthly distribution of C$0.0625, or C$0.75 annually — a 7.50% yield on the original C$10.00 issue price. Class A shares distribute C$0.08 monthly, or C$0.96 a year.
What's the endgame? The fund holds a diversified portfolio built mainly around large-cap global equities. To lift income and cushion volatility, Mulvihill runs an active covered call writing strategy and may also write cash-covered put options.
The fund can allocate up to 100% of its net assets to other public investment funds, including those Mulvihill manages, and may hedge currency exposure against the Canadian dollar.
The signal: The raise targets income-focused investors at a time when high, steady distributions remain in demand. By pairing global equities with options overlays, Mulvihill is pitching yield with a measure of downside protection.
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