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Get to know Noranda Income Fund

Established in 2002, the Noranda Income Fund was an open-ended trust listed on the Toronto Stock Exchange (TSX: NIF.UN). Its primary business was to acquire and hold the assets of the CEZ processing facility, distributing a portion of the facility's cash flow to its unitholders through monthly distributions. The facility, managed by a subsidiary of Glencore Canada Corporation, is the second-largest zinc processing facility in North America. In February 2024, Glencore, which already held a significant stake, acquired all remaining publicly held units of the Fund. Following the acquisition, the Fund was delisted from the TSX and was formally wound up and dissolved on March 27, 2024.

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Noranda Income Fund

Canada

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Regulated

Recommended

(73 reviews)

Cyprus

2009

(17 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.