New offering including national class units and Quebec class units expected to yield tax benefits
Pollitt Investment Counsel has announced the launch of the Plutus Super Flow-Through Limited Partnership LP to high-net-worth investors.
The partnership aims to invest in flow-through shares of resource companies with involvement in mineral exploration in Canada, while maximizing tax benefits for investors.
Managed by Yvan Grégoire, president and portfolio manager of Pollitt Investment Council, the partnership will be run using a stock selection process that relies on a fundamental and quantitative approach, with high-quality deal flow ensured by its experienced management team.
The offering memorandum provides for an unlimited number of National Class limited partnership units, including National Class A and Class F units with FundSERV codes PCO101 and PCO103, respectively, with a minimum offering size of 4,000 National Class units. National Class limited partners are required to be residents of Canada, or liable to pay Canadian income tax.
It also provides for an unlimited number of Quebec Class limited partnership units, with FundSERV codes PCO111 and PCO 113, respectively, with a minimum offering size of 4,000 Quebec Class Units.
The minimum initial subscription size is 50 units, equal to $5,000, with minimum increments of 10 units ($1,000) for subscriptions above 50 units.
For 2020, investors with National Class units are expected to receive tax deductions of approximately 115% of the amount invested, based on certain conditions set out in the offering memorandum. Investors with Quebec Class units are expected to receive tax deductions for 2020 of around 135% of the amount invested, subject to conditions in the offering memorandum.