BluMont Capital Inc.

BluMont Capital Inc.

December 21, 2006 17:36 ET

BluMont Capital Reports Results for Fiscal 2006

TORONTO, ONTARIO--(CCNMatthews - Dec. 21, 2006) - BluMont Capital Inc. ("BluMont") (TSX VENTURE:BCC) today announced audited financial results for the fiscal year ended September 30, 2006.

Review of the Year Period Ended September 30, 2006

2006 2005
(thousands except (thousands except
HIGHLIGHTS per share amounts) per share amounts)
Assets Under Management ("AUM") $738,700 $784,300
Total Revenues $17,509 $14,692
Total Performance Fees Included
in Total Revenues $8,405 $6,257
Operating Income (i) $1,514 $162
Net Income $917 $(162)
Earnings Per Share $0.03 $0.00

(i) Operating Income is a non-GAAP earnings measure used by the Corporation.

BluMont experienced AUM decline of $45.6 million due to a combination of fund redemptions during the year, the sale of one fund and modest asset depreciation in some BluMont funds.

Total revenues increased 19% from $14.7 million in fiscal 2005 to $17.5 million in fiscal 2006 primarily as a result of increased performance fees realized during the year. Growth occurred in all areas of revenue; 5% in the predictable revenues of management fees, investment counseling and redemption fees and 34% growth in BluMont's less predictable revenues (performance fees).

Operating income increased from $0.2 million in the prior year to $1.5 million in fiscal 2006 and net income increased from a net loss of $0.2 million to net income of $0.9 million.

For detailed financial statements for the year, including Management's Discussion and Analysis, please refer to BluMont's website at or SEDAR at after January 26, 2007.

This press release may contain forward-looking statements with respect to IAM 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 Capital

BluMont Capital is a leading provider of alternative investment products to Canadian investors. The company offers investors innovative investment solutions that provide enhanced diversification and robust return potential. BluMont employs 40 people nationwide and has approximately C$780 million in assets under management. BluMont is 61.4% directly owned by Toronto-based Integrated Asset Management Corp. (TSX VENTURE:IAM), a leading alternative asset investment management company with approximately C$3 billion in assets and committed capital under management. Further information on BluMont Capital 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.
    President and CEO
    Stephen J. Kangas
    (416) 216-3566