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B

Review of Richards Packaging Income Fund

JUL 16, 2024 - RPI.UN serves a wide customer base that is comprised of over 17,000 enterprises in its three markets. Recent years have been challenging following a COVID-19 spike in demand. The first quarter of 2024 highlighted continued weakness in the food & beverage market, however, the healthcare market continued to see positive trends. While it may not be the most exciting growth name, RPI.UN generates solid cash flows, pays a high yield at 5.64%, has been reducing debt, and is cheap. We do not see it as a ‘must-own’ name, but it is a decent income investment. We are maintaining our rating of a B.

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