Low Volatility U.S. Equity Income Fund Closes Initial Public Offering
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/13/13 -- Strathbridge Asset Management Inc. ("Strathbridge" or the "Manager") is pleased to announce that Low Volatility U.S. Equity Income Fund (the "Fund") (TSX: LVU.UN) has completed its initial public offering of 2,050,000 units at a price of $10.00 per unit, for gross proceeds of $20.5 million. The units will commence trading on the Toronto Stock Exchange today under the ticker symbol LVU.UN.
The Fund is designed to provide investors with an actively managed investment in the common shares of low volatility, large capitalization, U.S. companies while mitigating downside risk and paying a monthly cash distribution. The Fund's investment objectives are:
The Fund will seek to achieve its investment objectives by actively investing in a conservative portfolio consisting of large capitalization equity securities selected from the S&P 100 Index, a subset of the S&P 500 Index containing the largest issuers by market capitalization, with a beta of less than 1.0 (the "Investment Universe"). The Fund will utilize a selective covered call option writing strategy designed to enhance portfolio income and mitigate downside risk.
If the Investment Universe was established on February 21, 2013, it would have consisted of 48 securities screened from the S&P 100 Index, and which have a beta of less than 1.0. The Portfolio will generally consist of 20 to 30 equity securities of issuers selected from the Investment Universe.
The syndicate of agents for the offering was co-led by RBC Capital Markets and CIBC and included BMO Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P. Macquarie Private Wealth Inc., Raymond James Ltd., and Mackie Research Capital Corporation.
The Fund has granted the agents for the offering an over-allotment option to acquire additional units on the same terms exercisable at any time during the next thirty days.
For further information, please contact your financial advisor, call our investor relations line at 416.681.3966, toll free at 1.800.725.7172 or visit .
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Contacts:
Strathbridge Asset Management Inc.
David Roode
President, Fund Services
416.681.3966 or Toll Free: 1.800.725.7172
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Datum: 13.03.2013 - 12:57 Uhr
Sprache: Deutsch
News-ID 238973
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