Blumont To Merge, Close Core Hedge Fund |
Date: Monday, April 18, 2011
Author: Advisor.ca
BluMont Capital has announced a plan to merge BluMont Core Hedge Fund with Exemplar Market Neutral Portfolio, a class of shares of Exemplar Portfolios Ltd.
BluMont says the merger would benefit investors because the Market Neutral Portfolio will provide daily liquidity and lower minimum purchase amounts. It also offers lower management fees and tax-free switching between other portfolios in its class.
The Market Neutral Portfolio has the same fundamental investment objective as the Core Hedge Fund and Sherpa Asset Management will continue in its role as portfolio sub-advisor.
Unitholder approval is not required for the merger of the Core Hedge Fund with the Market Neutral Portfolio. The Core Hedge Fund will be terminated on or about May 27, 2011.
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