The O’Leary Funds and the MINT Income Fund ran large ads in Saturday’s Globe and Mail soliciting investors to exchange selected common shares, preferred shares and/or convertible debentures in return for units of the O’Leary BRIC-Plus Income & Growth Fund (that’s a mouthful) or the MINT Income Fund. Both of these funds have as their objective to provide the unit holders with an income. Both ads provide the starting monthly distributions but, of course, the distributions are not guaranteed.
As for the O’Leary Funds record, the O’Leary Global Equity Income Fund has provided investors with a net loss of 17.5% since July 23, 2008. Over the same time period, my worst performing Canadian model posted an 18.7% gain thereby outperforming O’Leary’s fund by 36.2%. Bet, hey, as O’Leary would say at least you got paid to wait!
The MINT Income fund, which is managed by Middlefield Capital Corporation, provided investors with a 3.6% return from July 23, 2008 to present thereby beating O’Leary’s fund by 21.1%.
