BluMont Capital Corporation Completes Fund Merger |
Date: Tuesday, May 31, 2011
Author: Marketwire
The termination of the Core Hedge Fund was effective as of May 27, 2011 (the "Effective Date"). In that regard, BluMont Capital afforded unitholders of the Core Hedge Fund (the "Unitholders") the ability to participate in the wind-up of the Core Hedge Fund as at the Effective Date by way of an in-kind transfer of their investment to the Market Neutral Portfolio.
The exchange ratios, based on the final net asset value of the Core Hedge Fund and the May 27, 2011 net asset value of the Market Neutral Portfolio, are outlined below. The Core Hedge Fund termination did not occur on a tax-deferred basis and Unitholders should consult with their tax advisors in this regard.
| NAV per unit – May 27, 2011 | Number of Market Neutral Portfolio Shares per Core Hedge Fund Unit | |
| Core Hedge Fund, Class A | $101.0466 | 10.1047 |
| Core Hedge Fund, Class F | $107.2126 | 10.7213 |
| Core Hedge Fund, Class I | $100.2999 | 10.0299 |
| Market Neutral Portfolio, Series A | $10.00 | |
| Market Neutral Portfolio, Series F | $10.00 |
The Market Neutral Portfolio has the same fundamental investment objective as the Core Hedge Fund and Sherpa Asset Management Inc. will continue in its role as portfolio sub-advisor.
On the Effective Date, the Core Hedge Fund ceased to be a reporting issuer (or its equivalent) in all of the provinces of Canada in which it had such status.
About BluMont Capital
From mutual funds to alternative solutions, BluMont Capital's products are designed to protect your capital regardless of market conditions. We have the vision to go beyond convention by empowering our portfolio managers with flexible mandates and the freedom to perform in any market environment.
BluMont Capital is a wholly-owned subsidiary of Toronto-based Integrated Asset Management Corp. (TSX:IAM), a leading Canadian alternative asset investment management company with approximately C$2.3 billion in assets and committed capital under management in private corporate debt, real estate, private equity, managed futures, global bonds and retail alternative investments (www.iamgroup.ca).