BluMont Capital Corporation

BluMont Capital Corporation

June 30, 2009 16:35 ET

BluMont Capital Corporation Announces Fund Mergers

TORONTO, ONTARIO--(Marketwire - June 30, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN SOURCE.

BluMont Capital Corporation ("BluMont") announced today a plan to streamline its Offering Memoranda product lineup by merging BluMont Canadian Opportunities Fund (the "Canadian Opportunities Fund") and BluMont Hirsch Long/Short Fund (the "Long/Short Fund") with BluMont Core Hedge Fund (the "Core Hedge Fund"). The termination of the Canadian Opportunities Fund and the Long/Short Fund will be effective as of August 7, 2009 (the "Effective Date"). In that regard, BluMont, the Manager of each of the funds in question, will be affording Unitholders the ability to participate in the wind-up of the Canadian Opportunities Fund and Long/Short Fund as at the Effective Date by way of an in-kind transfer of their investment to the Core Hedge Fund.

The Canadian Opportunities Fund and the Long/Short Fund have small asset bases and/or similar investment mandates to the Core Hedge Fund. BluMont believes that the termination of the Canadian Opportunities Fund and the Long/Short Fund will benefit Unitholders as it will provide increased economies of scale for operating expenses and/or the potential for increased portfolio diversification. The objective of the Core Hedge Fund is to provide superior absolute returns measured over a complete market cycle. Burlington Capital Management Ltd. ("Burlington") is the investment advisor of the Core Hedge Fund, and is currently one of the two investment advisors for the Canadian Opportunities Fund.

Unitholder approval is not required for the merger of the Canadian Opportunities Fund and the Long/Short Fund with the Core Hedge Fund. On the Effective Date the Canadian Opportunities Fund will cease to be a reporting issuer (or its equivalent) in all of the provinces of Canada in which it currently has such status and the Core Hedge Fund will become a reporting issuer (or its equivalent) in such provinces.

Founded in 2000, BluMont Capital offers investment products designed to provide enhanced diversification and return potential outside of traditional equity and bond investments. BluMont Capital employs a national sales force and is dedicated to setting new standards in delivering alternative products and services to Canadian retail investors.

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$2.1 billion in assets and committed capital under management (www.iamgroup.ca).

This news release contains certain "forward-looking statements". The statements that are not historical facts contained in this press release are forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • BluMont Capital Corporation
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    866.473.7376