MODERN CAPITAL TACTICAL OPPORTUNITIES FUND DECLARES SHORT TERM CAPITAL GAINS & LONG TERM CAPITAL GAIN DISTRIBUTIONS
The Modern Capital Tactical Opportunities Fund (ticker: MCTOX) has declared a total distribution of $.2282 per share, consisting of a short-term capital gain of $.1897 and a long-term capital gain of $.0385. This distribution is payable on December 16, 2022, to shareholders on record as of December 15, 2022. Year-to-date, MCTOX has disbursed $.8739 in total distributions. The fund aims to deliver income and capital gains by investing in closed-end funds, ETFs, and ADRs, leveraging market discrepancies for increased yields.
- Declared total distribution of $.2282 per share.
- Year-to-date distributions amount to $.8739.
- Investment strategy focused on income and capital gains.
- Potential risks associated with high portfolio turnover.
- Investment in CEFs may lead to duplicative fees.
MT PLEASANT, S.C., Dec. 19, 2022 /PRNewswire/ -- The Board of Directors of the Modern Capital Tactical Opportunities Fund (Ticker: MCTOX) declared a short-term capital gain distribution of $.1897 per share and a long-term capital gain distribution of $.0385 per share, for a total distribution of $.2282 per share, payable on December 16, 2022, to shareholders of record on December 15, 2022. As of December 16, 2022, MCTOX has paid out $.8739 in total distributions year to date, with a potential Q4 Dividend at the end of December.
The MCTOX seeks to provide income and capital gains by investing a significant portion of the portfolio in closed-end funds (CEFs), exchange-traded funds (ETFs), and sponsored American Depositary Receipts (ADRs). Unlike some funds with a narrow mandate that can restrict the portfolio manager's ability to react to evolving market conditions, MCTOX, allows funds management team wide discretion. Due to a CEF's natural pricing discrepancy with its holdings, the portfolio managers look to buy funds trading at a discount to Net Asset Value (NAV). CEFs also frequently leverage their holdings and, as a result, are capable of returning increased yields compared to a non-leveraged portfolio. This enhanced yield allows the MCTOX to seek above market income without abandoning the potential for equity-like asset appreciation. For a full description please see the fund's prospectus here.
Modern Capital is a Charleston, SC-based advisory firm that provides a wide range of financial services to a broad client base including institutions, corporations, and non-profit entities. For more information about Modern Capital, visit moderncap.com.
Please read the prospectus and consider the Fund's investment objectives, risks, and expenses before investing. To obtain a prospectus, containing this and other information, visit www.ncfunds.com/dl/prospectus/210prospectus.pdf. Holdings are subject to change and risk.
The Fund's investments are subject to risks, including loss of the principal amount invested. The Fund may not meet its objective. The Fund is subject to the following risks: Active trading may result in added expenses, lower return, and increased tax liability. The Fund will have high portfolio turnover rates because the advisor engages in high turnover trading strategies. Closed-End Funds (CEFs) are subject to investment advisory and other expenses, which the Fund will indirectly pay, resulting in duplicative fees. The underlying CEF's advisor may not meet the Fund's objective. Equity securities may experience value changes, their values may be more volatile than other asset classes' values. These value changes may result from factors affecting individual issuers, industries, or the stock market. The prospectus contains more information about the Fund's risks.
Distributor: Capital Investment Group, Inc., Member FINRA/SIPC. There is no affiliation between the Distributor and Modern Capital Management Co.
CONTACT: Michael Pierce, 843-779-6517
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SOURCE Modern Capital, Inc.
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