TORONTO, ONTARIO--(Marketwire - April 26, 2012) - Brookfield Investment Management (Canada) Inc. (the "Manager") is pleased to announce that Brookfield High Yield Strategic Income Fund (the "Fund") has filed a preliminary prospectus dated April 25, 2012 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering of units (the "Units") at C$10.00 per unit.
The Fund has been created to obtain exposure to a portfolio (the "Portfolio") comprised primarily of North American high yield bonds.
| The Fund's investment objectives are: |
| (i) | to provide holders of the Units (the "Unitholders") with tax-advantaged quarterly cash distributions; | |
| (ii) | to maximize total return to Unitholders through distributions and capital appreciation; and | |
| (iii) | to preserve capital. |
The distributions are initially targeted to be 6.5% per annum on the subscription price of C$10.00 per Unit (C$0.1625 per Unit per quarter or C$0.65 per annum). Commencing in June 2013, the Fund will announce, at least annually, the expected distribution amount for the following four quarters.
The Portfolio will be actively managed by Brookfield Investment Management Inc. (the "Investment Manager"). The Manager and Investment Manager are both subsidiaries of Brookfield Asset Management Inc., a Canadian based, global asset manager with approximately $150 billion in assets under management as of March 31, 2012 and over 100 years of history in owning and operating assets with a focus on real estate, power, infrastructure and private equity.
The syndicate of agents for this offering is being led by RBC Capital Markets and CIBC, and includes Scotiabank, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Dundee Securities Ltd., Macquarie Private Wealth Inc., Manulife Securities Incorporated and Brookfield Financial Corp.
Contact Information:
Andrew Willis
416-369-8236
www.brookfieldim.com