Dynamic Funds

Dynamic Funds
Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd.
DPF India Opportunities Fund
TSX : DPF.UN

December 18, 2007 14:12 ET

DPF India Opportunities Fund Announces Issuer Bid

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2007) - Goodman & Company, Investment Counsel Ltd. ("Goodman & Company"), the manager of DPF India Opportunities Fund (TSX:DPF.UN) (the "Fund"), announces a normal course issuer bid. In accordance with the terms of its initial public offering, the Fund intends to purchase, through the facilities of the Toronto Stock Exchange ("TSX"), up to 2,480,650 trust units of the Fund (the "Trust Units") representing approximately 10% of the public float. As of December 11, 2007 the public float of the Fund was 24,806,500 Trust Units and the issued and outstanding number of Trust Units was 25,000,000.

The Trust Units may be purchased for cancellation commencing on December 20th, 2007 through to December 19th, 2008 through the facilities of the TSX and may be purchased when the net asset value per Trust Unit exceeds its trading price. Pursuant to TSX policies, the Fund will not purchase during any 30 day period more than 2% of the 25,000,000 Trust Units outstanding. A Notice of Intention to Make a Normal Course Issuer Bid has been accepted by the TSX effective as of December 18, 2007.

The purpose of the normal course issuer bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per Trust Unit and the market price of the Trust Units.

The Fund is a TSX-listed closed-end investment trust, seeks to enhance the value of the Trust units offered primarily through capital appreciation driven by an actively managed, diversified investment portfolio. As of December 11, 2007 the net asset value was $12.02 per Trust Unit and the closing trading price was $9.70 per Trust Unit (representing a discount of 19.30% when measured against the net asset value per Trust Unit).

Goodman & Company, Investment Counsel Ltd. is a leading Canadian asset management company tracing its roots back 50 years, with more than $26 billion in assets under management. Goodman offers a wide range of wealth management solutions through registered financial advisors. These include the mutual funds, hedge funds and closed-end investment trusts of Dynamic Funds™, the portfolio solutions of the Marquis Investment Program, the flow-through limited partnerships of CMP™ and Canada Dominion Resources and the high-net investment counsel of Goodman Private Wealth Management. Goodman & Company is a subsidiary of DundeeWealth Inc. (TSX:DW).

Contact Information

  • Goodman & Company, Investment Counsel Ltd.
    Customer Relations Centre
    1-800-268-8186
    Website: www.dynamic.ca
    or
    Media Relations
    Myra Reisler
    (416) 342-1829