BluMont Capital closes acquisition of two Halcyon funds

Date: Monday, November 19, 2007
Author: Investment Executive

BluMont Capital Corp. says that it has closed the acquisition of the administrative management contracts of Halcyon Hirsch Opportunistic Canadian Fund and Halcyon Hirsch Opportunistic Tactical Allocation Fund from Halcyon Fund Management Inc. and Burgeonvest Securities Ltd.

The deal was previously announced on August 13.

As part of the transaction, and prior to closing, Halcyon Canadian Demographic Fund was merged into Halcyon Hirsch Opportunistic Tactical Allocation Fund. The closing of the transaction was approved by unitholders of Hirsch Funds and Halcyon Canadian Demographic Fund at unitholder meetings held on October 12, and was approved by applicable regulatory authorities on November 6.

At closing, the name of Halcyon Hirsch Opportunistic Canadian Fund was changed to BluMont Canadian Fund, and the name of Halcyon Hirsch Opportunistic Tactical Allocation Fund was changed to BluMont North American Fund.

Paul Perrow, president and CEO of BluMont Capital, stated: “This is another important step in our strategy to expand BluMont Capital’s product line and make widely available, by means of prospectus, access to top investment management teams. These new funds are the foundation of a unique fund family. We intend to add other funds, strategies and managers to the roster.”

Founded in 2000, Toronto-based BluMont Capital manages and distributes alternative investment products designed to provide enhanced diversification and return potential outside of traditional equity and fixed income investments.