BluMont Capital Corporation

BluMont Capital Corporation

September 28, 2010 15:57 ET

BluMont Capital Corporation Announces Proposed Fund Merger

TORONTO, ONTARIO--(Marketwire - Sept. 28, 2010) - BluMont Capital Corporation ("BluMont Capital") announced today its intention to streamline its product lineup by merging BluMont Canadian Fund (the "Canadian Fund") with Northern Rivers Conservative Growth Fund (the "NR Fund"). Completion of the merger is conditional upon, among other things, approval of the unitholders of the Canadian Fund and regulatory approval. BluMont Capital intends to convene a special meeting of unitholders of the Canadian Fund to consider the merger on or about November 12, 2010. Further details of the proposed merger will be provided to unitholders of the Canadian Fund in an information circular to be mailed on or about October 21, 2010. Subject to receipt of all necessary approvals, it is anticipated that the merger will be completed on or about November 30, 2010.

The Canadian Fund and the NR Fund have small asset bases and similar investment mandates. BluMont Capital believes that the merger will benefit the unitholders of the Canadian Fund by increasing the asset base of the NR Fund and reducing long-term costs.

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 and 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$2.2 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).

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
    James Wanstall
    Chief Executive Officer
    866.473.7376