Premium Global Income Split Fund, a Toronto-based closed-end investment fund trading on the TSX under the symbols PGIC and PGIC.PR.A (reference: PGIC-PA), announced on September 22, 2026 that it has established a new at-the-market equity program allowing it to issue preferred shares and class A shares at prevailing market prices. The program carries a maximum gross proceeds limit of $70,000,000 and replaces a prior program established in December 2024 that has since terminated. The announcement is relevant to investors monitoring the Fund's capital-raising strategy and its capacity to grow its portfolio of global large-cap equities.

Key Points

  • Premium Global Income Split Fund (TSX: PGIC / PGIC-PA)
  • The Fund has established a new at-the-market equity program to issue preferred shares and class A shares at market prices on the TSX or other Canadian marketplaces
  • Maximum gross proceeds of $70,000,000; program effective until September 20, 2028, under an equity distribution agreement dated September 21, 2026, with National Bank Financial Inc. and CIBC World Markets Inc.
  • Investors may watch how the Fund deploys proceeds within its covered call writing strategy and diversified global equity portfolio managed by Mulvihill Capital Management Inc.

ATM Program Structure and Distribution Agreement Details

The new ATM Program was established under an equity distribution agreement dated September 21, 2026, with National Bank Financial Inc. serving as lead agent and CIBC World Markets Inc. as co-agent. Sales will be conducted as "at-the-market distributions" on the TSX or other eligible Canadian marketplaces, meaning prices may vary among purchasers throughout the distribution period. The program is supported by a prospectus supplement dated September 21, 2026, filed in conjunction with the Fund's short form base shelf prospectus dated August 21, 2026. The volume and timing of any share issuances remain at the Fund's sole discretion.

How Premium Global Income Split Fund Invests Its Capital

The Fund invests primarily in large-capitalisation global equity securities actively selected by Mulvihill Capital Management Inc., its Toronto-based manager and investment manager. To enhance income and reduce portfolio volatility, the Fund employs an active covered call writing strategy and may write cash-covered put options on eligible securities. It may also invest up to 100% of its net assets in other public investment funds, including those managed by Mulvihill, and may enter into currency hedging transactions to manage exposure to foreign-currency-denominated securities relative to the Canadian dollar.

Use of Proceeds and Program Duration

The Fund states it intends to use proceeds from the ATM Program in accordance with its established investment objectives and strategies, subject to its investment restrictions. The program will remain effective until September 20, 2028, unless terminated earlier under the terms of the equity distribution agreement. The immediate share price impact of this announcement was not clear from available public information. Investors may be watching whether the Fund draws on the full $70,000,000 capacity or issues shares selectively based on prevailing market conditions.