BluMont Capital Inc.

BluMont Capital Inc.

May 23, 2006 11:41 ET

BluMont Capital Inc. Reports Results for Second Quarter of Fiscal 2006

TORONTO, ONTARIO--(CCNMatthews - May 23, 2006) - BluMont Capital Inc. ("BluMont") (TSX VENTURE:BCC) today announced unaudited financial results for the second quarter of fiscal 2006.

Review of the 3-Month Period Ended
March 31, 2006 March 31, 2005
(thousands except (thousands except
HIGHLIGHTS per share amounts) per share amounts)
Assets Under Management
("AUM") $784,000 $666,500
Total Revenues $2,668 $2,174
Total Performance Fees
Included in Total Revenues $383 $100
Operating Loss (i) $(180) $(433)
Net Loss $(135) $(448)
Loss Per Share $0.00 $(0.01)

(i) Operating Loss is a non-GAAP (generally accepted accounting principle) earnings measure. This measure is loss before income taxes and the deduction of stock-based compensation expense.

BluMont experienced AUM growth of 18% adding approximately $117.5 million of new assets since March 31, 2005.

Total revenues increased 23% from $2.2 million in the quarter ending March 31, 2005 to $2.7 million in the quarter ending March 31, 2006 mainly as a result of increased performance fees realized. Growth occurred in all areas of revenue; 6% in the predictable revenues of management fees, investment counselling and redemption fees and over 200% growth in BluMont's less predictable revenues (performance fees).

The operating loss of $0.2 million in the current quarter improved from an operating loss of $0.4 million in the comparable quarter of fiscal 2005 and the net loss decreased to $0.1 million from a net loss of $0.4 million.

For detailed financial statements for the quarter, including Management's Discussion and Analysis, please refer to BluMont's website at or SEDAR at

This press release may contain forward-looking statements with respect to BluMont and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in any such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.

About BluMont

BluMont is a leading provider of alternative investment products to Canadian investors. Specializing in hedge funds, the firm offers investors innovative investment solutions that provide enhanced diversification and robust return potential. BluMont employs 40 people nationwide and has approximately C$850 million in assets under management. BluMont is 46.1% directly owned by Toronto-based Integrated Asset Management Corp. (TSXV:IAM), a leading alternative asset investment management company with approximately C$3 billion in assets and committed capital under management. Further information on BluMont can be found at

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • BluMont Capital Inc.
    Stephen J. Kangas
    (416) 216-3566