Man Canada AHL Alpha Fund closes IPO

Date: Friday, May 29, 2009
Author: Investment Executive

Man Canada AHL Alpha Fund has completed its initial public offering of 8,835,586 Class A Units and 1,040,026 Class F Units of the Fund for aggregate proceeds of $98,756,120, Man Investments Canada Corp. said Thursday.

The Class A and F units will not be listed on any stock exchange.

The fund’s investment objective is to provide investors with the opportunity to realize capital appreciation through investment returns that have a low correlation to traditional forms of stock and bond securities.

The fund will seek to achieve its investment objective through exposure to a diversified portfolio of financial instruments across a range of global markets including currencies, bonds, stocks, energy, metals and interest rates to be managed by Man Investments Ltd. using a multi-strategy trading program know as the AHL Alpha Programme. The AHL Alpha Programme is implemented and managed by AHL, a division of Man Investments Ltd. Man Investments Canada or its affiliates will pay issuing expenses of the offering.

“We are very pleased with the success of this offering. In today's volatile markets, this has proven that investors are seeking new diversification opportunities, with returns that have low correlation to their stock and bond investments,” says Toreigh Stuart, CEO of Man Investments Canada Corp.

The syndicate of agents for the offering was jointly led by Scotia Capital Inc. and CIBC World Markets Inc., and included BMO Capital Markets, Dundee Securities Corp., Blackmont Capital Inc., Canaccord Capital Corp., Richardson Partners Financial Limited, Desjardins Securities Inc., Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., Rothenberg Capital Management Inc. and Wellington West Capital Markets Inc.