Fund Profile
NAV ($)
$10.517
2026/02/27
Total Net Assets ($)
$41.3 Million
2026/02/28
Distribution ($)
N.A.
Management Fee
1.25%
Investor Suitability
- Attractive long-term capital appreciation potential
- Access to a concentrated portfolio of actively managed global communications and related infrastructure investments participating in the Global Communications and Infrastructure Sectors
- Access to institutional private infrastructure investments in the development and leasing of telecommunication towers and related infrastructure in the United States
Trust Objectives
The Trust’s investment objective is to achieve long-term capital appreciation and income by investing in the development and leasing of telecommunications towers and related infrastructure in the United States and in publicly traded companies with direct or indirect exposure to the global communications industry and related infrastructure.
Trust Facts
Fund Code
SLC1205
Currency
CAD
Investment Type
Offering Memorandum
Registered Investment Eligible
Yes
Total Number of Holdings
10
Investment Management Team
Hisham Yakub CFA
Senior Portfolio Manager
Hisham Yakub joined Starlight Capital in February 2023 as Senior Portfolio Manager. He has over 10 years of experience in the investment industry.
Mr. Yakub most recently held a position with a boutique Toronto-based investment management firm as an Investment Analyst and Portfolio Manager. He also spent the first six years of his business career focused on developing software tools for portfolio management applications. He progressed through several roles across the industry and finished his pre-MBA career at CPP Investment Board.
Mr. Yakub holds the Chartered Financial Analyst and Financial Risk Manager designations and earned a Master of Business Administration from the Rotman School of Management at the University of Toronto in 2013 and an Honours Bachelor of Business Administration degree with a specialization in Information Systems from York University.
Related Documents
Offering Memorandum
*Where this is a new fund, the risk rating is only an estimate by Starlight Capital. Generally, we determine the risk rating for each fund in accordance with a standardized risk classification methodology in NI 81-102 that is based on the fund’s historical volatility as measured by the 10-year standard deviation of the returns of the fund. Standard deviation is a common statistic used to measure the volatility and risk of an investment. Funds with higher standard deviations are generally classified as being more risky. Just as historical performance may not be indicative of future returns, a fund’s historical volatility may not be indicative of its future volatility. You should be aware that other types of risk, both measurable and non-measurable, also exist.
1Unitholders have the right to redeem units of the Trust on the last business day of each calendar quarter. Payment of redemption proceeds will be made within 60 days following the applicable quarterly redemption date. Units held for less than 12 months will be subject to an early redemption fee equal to 3% of the Units redeemed.
2Net of accrued management fees and all fund expenses.
Starlight Investments Capital LP ("Starlight Capital") is the manager of the Tower Development Trust.
Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with investment trusts. Please read the prospectus or other applicable offering document before investing. Investors should consult with their advisors prior to investing. The indicated rates of return are the historical annual compound total returns net of fees (except for figures of one year or less, which are simple total returns) including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Investment trusts are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein is not an offer to sell nor a solicitation to buy any security. Such an offer can only be made by the prospectus or other applicable offering document. There are ongoing fees and expenses associated with owning units of the investment trust. An investment trust must prepare disclosure documents that contain key information about the trust. You can find more detailed information about the trust in these documents. Starlight, Starlight Investments, Starlight Capital and all other related Starlight logos are trademarks of Starlight Group Property Holdings Inc.
*June 28, 2024 –Tower Development Trust (Series A CUSIP: 89182K108, Series C CUSIP 89182K116 and Series F CUSIP 89182K124), has been converted into Tower Development Trust Series C - SLC1205. The Series A was rolled over with a conversion ratio of 0.949940, Series C with a conversion ratio of 1 and Series F with a conversation ratio of 0.979977.
Are you an accredited investor?
Starlight Private Pools are offered only to “accredited investors” or in reliance on another exemption from the prospectus requirement. By clicking “Accept”, you confirm that you are an “accredited investor” within the meaning of National Instrument 45-106 – Prospectus Exemptions, and in Ontario, within the meaning of Section 73.3 of the Securities Act (Ontario) as supplemented by the definition in National Instrument 45-106, on the basis that you fit within the category of an “accredited investor” as defined therein.
You may be an “accredited investor” if:
- your net income before taxes exceeded $200,000 in both of the last two years and you expect to maintain at least the same level of income this year; OR Your net income before taxes, combined with that of a spouse, exceeded $300,000 in both of the last two years and you expect to maintain at least the same level of income this year;
- you, alone or together with a spouse, own financial assets worth more than $1 million before taxes but net of related liabilities (cash, or certain investments such as public equity or bonds, would be considered liquid/financial assets); or
- you, alone or together with a spouse, have net assets of at least $5 million (for the purposes of the net asset test, the calculation of total assets would include the value of a purchaser’s personal residence and the calculation of total liabilities would include the amount of any liability (such as a mortgage) in respect of the purchaser’s personal residence).
It is your obligation to consult with your financial advisor and/or such other advisors as you deem necessary in making the determination that you meet the definition of “accredited investor”.
Disclaimer
Information pertaining to the Starlight Private Pools is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of the Starlight Private Pools are made pursuant to their respective offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Starlight Private Pools including a statement of each fund’s fundamental investment objective, is contained in their respective offering memorandum, a copy of which may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will fluctuate.
Are you an accredited investor?
Unison Acquision Trust is offered only to “accredited investors” or in reliance on another exemption from the prospectus requirement. By clicking “Accept”, you confirm that you are an “accredited investor” within the meaning of National Instrument 45-106 – Prospectus Exemptions, and in Ontario, within the meaning of Section 73.3 of the Securities Act (Ontario) as supplemented by the definition in National Instrument 45-106, on the basis that you fit within the category of an “accredited investor” as defined therein.
You may be an “accredited investor” if:
- your net income before taxes exceeded $200,000 in both of the last two years and you expect to maintain at least the same level of income this year; OR Your net income before taxes, combined with that of a spouse, exceeded $300,000 in both of the last two years and you expect to maintain at least the same level of income this year;
- you, alone or together with a spouse, own financial assets worth more than $1 million before taxes but net of related liabilities (cash, or certain investments such as public equity or bonds, would be considered liquid/financial assets); or
- you, alone or together with a spouse, have net assets of at least $5 million (for the purposes of the net asset test, the calculation of total assets would include the value of a purchaser’s personal residence and the calculation of total liabilities would include the amount of any liability (such as a mortgage) in respect of the purchaser’s personal residence).
It is your obligation to consult with your financial advisor and/or such other advisors as you deem necessary in making the determination that you meet the definition of “accredited investor”.
Disclaimer
Information pertaining to the Unison Acquision Trust is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of the Unison Acquisition Trust are made pursuant to their respective offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Unison Acquisition Trust including a statement of each fund’s fundamental investment objective, is contained in their respective offering memorandum, a copy of which may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will fluctuate.
Are you an accredited investor?
Tower Development Trust is offered only to “accredited investors” or in reliance on another exemption from the prospectus requirement. By clicking “Accept”, you confirm that you are an “accredited investor” within the meaning of National Instrument 45-106 – Prospectus Exemptions, and in Ontario, within the meaning of Section 73.3 of the Securities Act (Ontario) as supplemented by the definition in National Instrument 45-106, on the basis that you fit within the category of an “accredited investor” as defined therein.
You may be an “accredited investor” if:
- your net income before taxes exceeded $200,000 in both of the last two years and you expect to maintain at least the same level of income this year; OR Your net income before taxes, combined with that of a spouse, exceeded $300,000 in both of the last two years and you expect to maintain at least the same level of income this year;
- you, alone or together with a spouse, own financial assets worth more than $1 million before taxes but net of related liabilities (cash, or certain investments such as public equity or bonds, would be considered liquid/financial assets); or
- you, alone or together with a spouse, have net assets of at least $5 million (for the purposes of the net asset test, the calculation of total assets would include the value of a purchaser’s personal residence and the calculation of total liabilities would include the amount of any liability (such as a mortgage) in respect of the purchaser’s personal residence).
It is your obligation to consult with your financial advisor and/or such other advisors as you deem necessary in making the determination that you meet the definition of “accredited investor”.
Disclaimer
Information pertaining to the Tower Development Trust is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of the Tower Development Trust are made pursuant to their respective offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Tower Development Trust including a statement of each fund’s fundamental investment objective, is contained in their respective offering memorandum, a copy of which may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will fluctuate.
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