Flaherty & Crumrine Investment Grade Fixed Income Fund announces a share repurchase program. Under the bid, the Fund will repurchase up to 864,300 units, representing 10% of the public float and 9.88% of its issued capital. The shares will be repurchased through the facilities of the TSX or other eligible alternative market and may only be repurchased at a price per unit not exceeding the last published net asset value per unit.

The Fund may purchase up to 172,990 units in any 30 day period which is 2% of the issued and outstanding units. The repurchased units will be cancelled. The Manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

The bid will end on December 28, 2015. As of December 15, 2014, the Fund has 8,643,384 units in the public float and has 8,649,545 issued and outstanding units.