TORONTO, ONTARIO--(Marketwired - April 25, 2014) - Brookfield Investment Management (Canada) Inc. (the "Manager") is pleased to announce that Brookfield Select Opportunities Income Fund (the "Fund") has filed a final prospectus dated April 24, 2014 with the securities regulatory authorities of all of the Canadian provinces and territories for the initial public offering of units of the Fund (the "Units") at a price of $10.00 per Unit. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Units under the symbol BSO.UN, subject to the fulfillment of TSX requirements.
The Fund has been created to invest in a portfolio (the "Portfolio") of fixed income and equity securities on a global basis. The Fund will focus on, but will not be limited to, investments in high yield corporate debt and publicly-listed equity securities of infrastructure and real estate companies. The Portfolio will be actively managed by the Manager.
The Fund's investment objectives are to:
- provide holders of the Units (the "Unitholders") with quarterly cash distributions;
- maximize total return for Unitholders through distributions and capital appreciation; and
- preserve capital.
The quarterly distributions are initially targeted to be 6.0% per annum on the subscription price of $10.00 per Unit ($0.15 per Unit per quarter or $0.60 per Unit per annum).
The Manager is a wholly-owned subsidiary of Brookfield Asset Management Inc., a Canadian based, global alternative asset manager with over US$175 billion in assets under management as of December 31, 2013 that has over a 100-year history of owning and operating assets with a focus on property, renewable energy, 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., Brookfield Financial Corp., Desjardins Securities Inc., Haywood Securities Inc. and Manulife Securities Incorporated.