Burgeonvest Securities Limited

Halcyon Fund Management Inc.

August 13, 2007 16:00 ET

Burgeonvest and Halcyon to Sell Halcyon Group of Mutual Funds to Blumont

TORONTO, ONTARIO--(Marketwire - Aug. 13, 2007) - Burgeonvest Securities Limited ("Burgeonvest") and Halcyon Fund Management Inc. (collectively, the "Vendors") announce that they have entered into an agreement with Blumont Capital Corporation ("Blumont"), a wholly-owned subsidiary of Integrated Asset Management Corp. ("IAM") (TSX:IAM), to transfer the administrative management contracts of the Halcyon Hirsch Opportunistic Canadian Fund, the Halcyon Hirsch Opportunistic Tactical Allocation Fund and the Halcyon Canadian Demographic Fund (collectively the "Halcyon Funds") to Blumont.

In consideration for the transfer of the management contracts, the Vendors will receive from Blumont cash on closing and deferred consideration based on assets under management in respect of the Halcyon Funds.

It is intended that the Halcyon Canadian Demographic Fund will be merged with Halcyon Hirsch Opportunistic Canadian Fund.

The closing of the transaction is subject to the approval of the unitholders of the Halcyon Funds at meetings expected to take place in October and receipt of all necessary regulatory approvals.

Burgeonvest is a full-service investment dealer and portfolio manager based in Hamilton, Ontario. Its parent company, Burgeonvest Financial Corporation, has varied interests in the financial services industry.

Founded in 2000, BluMont Capital manages and distributes alternative investment products designed to provide enhanced diversification and return potential outside of traditional equity and fixed income investments. With over 35 employees, BluMont Capital employs a national sales force and has expanding strategic alliances with multi-national financial services providers. BluMont Capital is a founding member of the Canadian Chapter of the Alternative Investment Management Association (AIMA).

IAM is Canada's leading alternative asset management company with approximately $3 billion in assets and committed capital under management in private corporate debt, private equity, managed futures, real estate investment management, property management and retail products, including hedge funds.

Contact Information

  • Blumont Capital Corporation
    Paul Perrow
    President and Chief Executive Officer
    (416) 304-6836
    or
    Burgeonvest Securities Limited and
    Halcyon Fund Management Inc.
    Mario Frankovich
    President and Chief Executive Officer
    (905) 528-6505