Qwest Investment Management Corp.

Qwest Investment Management Corp.

April 08, 2010 12:35 ET

Rollover Completed for Qwest Energy 2008 Flow-Through Limited Partnership and Qwest Energy 2008-II Flow-Through Limited Partnership

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2010) - Qwest Investment Management Corp. is pleased to announce that on April 8, 2010, the assets of Qwest Energy 2008 Flow-Through Limited Partnership and Qwest Energy 2008-II Flow-Through Limited Partnership (collectively the "Flow-Through Funds"), with a combined value of $28.20 million, rolled on a tax-deferred basis to our mutual fund, the QE Funds Corp. Series A Shares of Qwest Energy Canadian Resource Class (the "Mutual Fund"). The rollover of the Flow-Through Funds' assets into the Mutual Fund provides our flow-through investors with a key investment advantage of a liquidity structure that provides continuity of portfolio management.

Flow-Through Funds' Net Asset Values

The rollover net asset value, calculated at the close of business on April 7, 2010, was $15.12 per partnership unit for the Qwest Energy 2008 Flow-Through Limited Partnership and was $24.75 per partnership unit for the Qwest Energy 2008-II Flow-Through Limited Partnership.

Mutual Fund Share Distribution

The Flow-Through Funds will distribute to their former limited partners the applicable number of Mutual Fund shares on or about April 14, 2010. The Flow-Through Funds will subsequently be dissolved upon completion of the Mutual Fund share distribution. The Mutual Fund shares will be redeemable after the completion of distribution, on or about April 14, 2010, and the subsequent settlement of the Mutual Fund shares into the limited partners respective brokerage account. The rollover is a tax-deferred event and does not trigger capital gains until limited partners decide to sell their Mutual Fund shares.

The Mutual Fund

The Mutual Fund is an open-ended mutual fund corporation with a mandate of achieving long-term capital appreciation by investing primarily in equity securities of publicly traded Canadian companies involved in the energy and natural resources sector. The Mutual Fund targets companies that possess a combination of an experienced management team, sound financial fundamentals and strong growth prospects. Qwest Investment Fund Management Ltd. ("QIFM") is the Portfolio Advisor to the Mutual Fund and QIFM's portfolio management team is led by Ms. Jennifer Stevenson, Executive Vice-President and Director.

About Qwest Investment Management Corp.

Qwest Investment Management Corp. is an investment management firm which specializes in identifying, structuring and managing investment products. Our current focus is on investments in the natural resource sector.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Qwest Investment Management Corp.
    Ms. Cindy Bower
    Senior Manager, Business Development & Client Services
    1-866-602-1142 or 604-602-1142
    604-689-8892 (FAX)
    cbower@qwestfunds.com
    www.qwestfunds.com