Brookfield New Horizons Income Fund
CNSX : BIF.UN

Brookfield Asset Management Inc.

Brookfield Asset Management Inc.
Brookfield Investment Management (Canada) Inc.

April 01, 2011 17:08 ET

Brookfield new Horizons Income Fund Completes $130 Million Initial Public Offering

TORONTO, ONTARIO--(Marketwire - April 1, 2011) - Brookfield Investment Management (Canada) Inc. ("BIM Canada") is pleased to announce the closing of the initial public offering by Brookfield New Horizons Income Fund (the "Fund") (CNSX:BIF.UN). Pursuant to the offering, the Fund issued 13 million units (the "Units") at C$10.00 per Unit for gross proceeds of C$130 million. The Units are listed on the Canadian National Stock Exchange under the symbol BIF.UN.

"The Brookfield New Horizons Income Fund is a special product that will draw upon Brookfield's in-depth knowledge of infrastructure, real estate and high yield corporate debt. The Fund will own a diversified portfolio of marketable securities with the objective of earning stable and consistent income, without exposure to excessive risk," said Gail Cecil, Director, BIM Canada and a Portfolio Manager for the Fund.

The Fund is an investment trust governed by the laws of the Province of Ontario and has been created to obtain exposure to a portfolio which will focus on, but will not be limited to, investments in high yield corporate debt and publicly-listed securities in infrastructure and real estate companies, across a global universe. 

The Fund's investment objectives are to: (i) provide unitholders with tax advantaged quarterly cash distributions; and (ii) preserve the net asset value of the Fund. The initial quarterly distributions are targeted to be C$0.20 per Unit (C$0.80 per annum representing an annual cash distribution of 8% based on the C$10.00 per Unit issue price). The Fund will not have a fixed quarterly distribution amount and distributions may vary from quarter to quarter.

BIM Canada is registered as a portfolio manager and exempt market dealer in certain Canadian provinces. BIM Canada also draws upon the experience of its affiliate, Brookfield Investment Management Inc. ("BIM"), a U.S.-based investment advisor registered with the United States Securities and Exchange Commission that focuses on specialized equity and fixed income securities investments. Brookfield Investment Management Inc. and its affiliates had approximately $23 billion in assets under management as of December 31, 2010. Headquartered in New York, Brookfield Investment Management Inc. and its affiliates maintain offices and investment teams in Chicago, Boston, London, Hong Kong, Sydney, and Toronto.

BIM is a wholly-owned subsidiary of Brookfield Asset Management Inc., a leading global asset manager with over $100 billion in assets under management as of December 31, 2010 and over 100 years of experience in the property, power, and infrastructure industries. The combination of access to this operational experience along with the breadth of our product offerings and depth of our investment teams provides enhanced opportunity for investment.

The offering was co-led by Brookfield Financial Corp. and MGI Securities Inc.

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