BLUMONT STRATEGIC PARTNERS HEDGE FUND
TSX : BSP.UN

BLUMONT STRATEGIC PARTNERS HEDGE FUND

November 23, 2006 09:56 ET

BluMont Strategic Partners Hedge Fund Announces Proposed Merger

TORONTO, ONTARIO--(CCNMatthews - Nov. 23, 2006) - BluMont Strategic Partners Hedge Fund (the "Fund")(TSX:BSP.UN) today announced that the manager of the Fund, BluMont Capital Corporation ("BluMont Capital"), has convened a special meeting of unitholders of the Fund to consider a proposal (the "Proposal") to merge the Fund with BluMont Canadian Opportunities Fund (the "Canadian Opportunities Fund"). The Canadian Opportunities Fund is a multi-manager investment trust also managed by BluMont Capital with investment objectives and strategies similar to those of the Fund.

Under the Proposal, all of the assets of the Fund will be transferred to the Canadian Opportunities Fund in exchange for units of the Canadian Opportunities Fund and all of the outstanding units of the Fund will be redeemed. In connection with such redemption, unitholders of the Fund will receive units of the Canadian Opportunities Fund on a tax-deferred "rollover" basis.

The proposal is subject to the approval of unitholders of the Fund at a meeting to be held on December 29, 2006. If approved, it is expected that the two funds would be merged effective December 31, 2006 and the Fund would be terminated on the same date.

Unitholders of the Fund who do not wish to remain unitholders of the Canadian Opportunities Fund will have the option of redeeming their units at the prevailing net asset value per unit on a weekly basis.

Further details of the Proposal and the Canadian Opportunities Fund are contained in the information circular of the Fund and other related documents to be made available on SEDAR at www.sedar.com and to be mailed to the Fund's unitholders.

About the Fund

BluMont Strategic Partners Hedge Fund is a closed-end fund, the primary objective of which is to achieve capital appreciation while managing risk through the use of a diversified hedged equity investment program. The Fund pursues this objective by allocating its approximately $35 million in assets across a diversified portfolio.

About the Manager

BluMont Capital ("BluMont")(TSX VENTURE:BCC) 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 approximately 40 people nationwide and has approximately C$790 million in assets under management and administration. BluMont is 61.4% 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 can be found at www.blumontcapital.com.

Contact Information

  • BluMont Capital
    Stephen J. Kangas
    President and CEO
    (416) 216-3566 or 1-866-473-7376
    (416) 216-3559 (FAX)
    Website: www.blumontcapital.com