BluMont Capital Corporation

BluMont Capital Corporation

July 11, 2012 16:00 ET

BluMont Capital Corporation Announces Proposed Fund Merger

TORONTO, ONTARIO--(Marketwire - July 11, 2012) -

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

BluMont Capital Corporation ("BluMont Capital") announced today its intention to streamline its product lineup by merging Exemplar Market Neutral Portfolio (the "Market Neutral Portfolio") into Exemplar Yield Fund (the "Yield Fund"). Completion of the merger is conditional upon, among other things, approval of both the shareholders of the Market Neutral Portfolio and the unitholders of the Yield Fund and regulatory approval. BluMont Capital intends to convene special meetings of shareholders of the Market Neutral Portfolio and unitholders of the Yield Fund on or about September 7, 2012 to consider the merger. Further details of the proposed merger will be provided to securityholders of the two funds in a combined notice of meeting and management information circular to be mailed on or about August 10, 2012. Subject to the receipt of all necessary approvals, it is anticipated that the merger will be completed on or about September 14, 2012. The Independent Review Committee of the BluMont Funds has given its positive recommendation for the proposed merger.

BluMont Capital believes that the merger will benefit the shareholders of the Market Neutral Portfolio and unitholders of the Yield Fund for a number of reasons, including by increasing the asset base of the Yield Fund and potentially reducing long-term costs. In addition, the management fees charged to the Yield Fund are lower than those charged to the Market Neutral Portfolio and there is no performance incentive fee charged to the Yield Fund.

Investors will have the right to redeem securities of the Market Neutral Portfolio up to the close of business on the day before the effective date of the merger. Following the merger, all optional plans, including pre-authorized contribution plans and automatic withdrawal plans which were established with respect to the Market Neutral Portfolio will be re-established in comparable plans with respect to the Yield Fund unless investors advise otherwise.

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$2.0 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
    866.473.7376