Flaherty & Crumrine Investment Grade Fixed Income Fund Will Discontinue Service Fees

TORONTO, ONTARIO--(Marketwired - Aug. 25, 2017) - Flaherty & Crumrine Investment Grade Fixed Income Fund (TSX: FFI.UN) (the "Fund) announces that following the September 30, 2017 payment of service fees, the Fund will discontinue paying service fees, which are currently paid to dealers that have investors who hold units of the Fund. Ceasing to pay service fees will conform with an increasing number of TSX traded funds which have eliminated service fees and will also improve returns of the Fund.

Flaherty & Crumrine Investment Grade Fixed Income Fund offers a high level of monthly income with a current yield of 7.3% per annum as of August 24, 2017. The Fund has paid $15.10 per unit in cash distributions since inception in December 2004. The Fund has provided investors with an attractive 14.4% return over the past year to July 31, 2017 and generated an 11.1% per annum return over the past 5 year period.¹ The Fund trades on the Toronto Stock Exchange under the symbol "FFI.UN".

The Fund invests primarily in U.S. preferred securities and has an investment grade P-2f rating from Standard & Poor's. The Fund invests in fixed income securities rated investment grade at the time of purchase.

About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton's investment solutions include TSX traded funds, mutual funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

About Flaherty & Crumrine
Established in 1983, Flaherty & Crumrine Incorporated specializes in US dollar denominated preferred securities and corporate debt instruments. The firm uses intensive credit analysis, thorough analysis of securities' terms and structures and active portfolio management, exploiting pricing inefficiencies in the fixed income market to provide attractive rates of return on its funds.

¹ See Standard Performance Data table below. Source: Brompton, as at July 31, 2017

You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an "exchange"). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.