Canoe EIT Income Fund sets 2026 voluntary cash redemption

Canoe EIT Income Fund has announced its 2026 voluntary cash redemption, setting Dec. 4, 2026, as the redemption date and Nov. 13, 2026, as the deadline for unitholders to submit units.

For investors who hold the fund, the key detail is the price. Redeemed units will be valued at 95% of the average net asset value of the three trading days before Dec. 4, less direct costs, which the fund expects to be under 1%.

There is also a cap on demand. If redemption requests are above 10% of the fund’s aggregate outstanding units on Nov. 13, the fund said it will process redemptions on a pro-rata basis according to the total number of units tendered.

Payment for units that are accepted for redemption will be made on or before Dec. 29, 2026. The fund also said units submitted for redemption will still be eligible for the October 2026 and November 2026 distributions, which are paid in November 2026 and December 2026, respectively.

Unitholders need to give notice through their investment advisor or brokerage office by Nov. 13, although the fund said some firms may set an earlier internal deadline. Registered unitholders, meaning those with a physical share certificate in their own name, were told to contact Odyssey Trust Company at 1-888-290-1175.

The fund said any redemption requests from non-resident unitholders may be subject to withholding tax.

Canoe EIT Income Fund is listed on the TSX under the symbol EIT.UN and is actively managed by Robert Taylor, senior vice president and chief investment officer at Canoe Financial.