BLUMONT STRATEGIC PARTNERS HEDGE FUND
TSX : BSP.UN

BLUMONT STRATEGIC PARTNERS HEDGE FUND

December 29, 2006 13:36 ET

BluMont Strategic Partners Hedge Fund Unitholders Approve Proposed Merger and Wind-Up

TORONTO, ONTARIO--(CCNMatthews - Dec. 29, 2006) - BluMont Strategic Partners Hedge Fund (the "Fund") (TSX:BSP.UN) today announced that its unitholders approved the proposed merger of the Fund with BluMont Canadian Opportunities Fund (the "Canadian Opportunities Fund") at a special meeting of unitholders of the Fund held today. The Canadian Opportunities Fund is a multi-manager investment trust managed by the manager of the Fund, BluMont Capital Corporation ("BluMont Capital"), with investment objectives and strategies similar to those of the Fund.

Under the proposed merger, 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 two funds will be merged effective December 31, 2006 and the Fund will be terminated on the same date.

Further details of the proposal and the Canadian Opportunities Fund are contained in the information circular of the Fund and other related documents available on SEDAR at www.sedar.com.

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 Inc. (TSX VENTURE:BCC) is a leading provider of alternative investment products to Canadian investors. The firm offers investors innovative investment solutions that provide enhanced diversification and robust return potential. BluMont employs approximately 40 people nationwide and has approximately C$750 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.

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.
    Stephen J. Kangas
    President and CEO
    (416) 216-3566 or 1-866-473-7376
    (416) 360-1102 (FAX)