Rollover of Creststreet 2008 LP into Creststreet Resource Fund completed

Date: Tuesday, June 1, 2010
Author: Investment Executive

The rollover of Creststreet 2008 Limited Partnership into Creststreet Resource Class Shares of Creststreet Mutual Funds Limited was completed on May 28.

The assets of Creststreet 2008 LP were exchanged on a tax-deferred basis for Creststreet Resource Fund - 2010 Series shares of equal value. Immediately after the rollover, Creststreet 2008 LP was dissolved.

Limited Partners of the Creststreet 2008 LP received 2.5249660303 Shares for each Creststreet 2008 LP unit held. The Net Asset Value per unit of the Creststreet 2008 LP at the time of the rollover was $9.5178. The Net Asset Value per share of Creststreet Resource Fund at the time of rollover was $3.7691. The adjusted cost base for tax purposes was retained from the Creststreet 2008 LP and is $2.2882 per share of Creststreet Resource Class Shares.

The shares will be redeemable and exchangeable beginning May 28, 2010. This is the date previously set by the Creststreet Mutual Funds Limited for redemption of shares. Creststreet Mutual Funds Limited does not charge redemption fees. Creststreet offers two additional mutual fund classes Creststreet Alternative Energy Fund and Creststreet Managed Equity Index Fund, allowing investors to switch between fund classes to further diversify their investment on a tax-deferred basis. Creststreet Mutual Funds are also RRSP/RRIF/TFSA eligible.

Creststreet Resource Fund is a diversified natural resources fund that invests in a broad selection of energy, mining, metals and agricultural related equity securities.

Based in Toronto, Creststreet Asset Management Limited specializes in structuring and managing high-quality investment products for Canadian and international institutional and high-net worth investors.