Dynamic Funds

Dynamic Funds
Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd.

August 14, 2007 09:31 ET

DPF India Opportunities Fund Closes Initial Public Offering at $250 Million

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Goodman & Company, Investment Counsel Ltd. ("Goodman & Company" or the "Manager"), manager of the Dynamic family of mutual funds, is pleased to announce that DPF India Opportunities Fund (the "Fund") has completed its initial public offering today at its maximum offering size of $250 million.

At closing, the Fund issued 25 million units ("Units") at a price of $10.00 per Unit, for gross proceeds of $250,000,000. Each Unit consists of one trust unit ("Trust Unit") and one warrant ("Warrant"). The Fund's Trust Units and Warrants commenced trading today on the Toronto Stock Exchange (the "TSX") under the symbols DPF.UN and DPF.WT, respectively.

Subject to certain restrictions as described in the final prospectus of the Fund dated August 2, 2007, each Warrant entitles the holder to purchase one Trust Unit at a subscription price of $12.50 per Unit on or before August 14, 2010. The Fund has granted the agents an over-allotment option to acquire up to an additional 3,750,000 Trust Units (the "Additional Trust Units") at a price of $9.40 per Additional Trust Unit and/or an additional 3,750,000 Warrants (the "Additional Warrants") at a price of $0.60 per Additional Warrant, which is exercisable in whole or in part at any time during the next 30 days.

The Manager: Goodman & Company, a division of DundeeWealth Inc., is a leading Canadian investment firm with 50 years of experience managing mutual funds and other customized investment products. It currently manages a variety of core and specialized funds, including the Dynamic Funds™ and six other closed-end investment trusts listed on the TSX. The Manager's team of 13 portfolio managers, nine analysts and three traders is responsible for more than $25 billion in assets under management. The Fund will be in the Dynamic Power family of funds, which represents growth mandates of the Dynamic Funds™ and includes a dedicated team of growth managers led by Rohit Sehgal including Noah Blackstein and Alexander Lane.

Rohit Sehgal, a highly regarded veteran of the investment industry with more than 30 years of investment experience, is responsible for approximately $3.5 billion in assets under management as at May 31, 2007.

The Agents: The syndicate of agents is co-led by GMP Securities L.P. and Dundee Securities Corporation and includes BMO Nesbitt Burns Inc., Canaccord Capital Corporation, CIBC World Markets Inc., TD Securities Inc. and RBC Dominion Securities Inc.

Goodman & Company, including Dynamic Funds™ and its affiliates, offers a wide range of wealth management solutions through registered financial advisors. These include mutual funds, portfolio solutions like the Marquis Investment Program, limited partnerships (CMP and Canada Dominion), hedge funds and high net-worth investment counsel (Goodman Private Wealth Management). Goodman & Company is a subsidiary of DundeeWealth Inc. (DW-TSX).

This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect Goodman & Company's current expectations, but are subject to a number of risks and uncertainties. Due to many risks and uncertainties, Goodman & Company cannot assure you that the forward-looking statements contained in this news release will be realized.

A final prospectus dated August 2, 2007 relating to these securities has been filed with the securities regulatory authority in each of the provinces and territories of Canada. This news release shall not constitute an offer to sell or the solicitation of an offer to buy. Important information concerning the offering is contained in the prospectus. Obtain a copy from your financial advisor and read the prospectus before investing.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or the Investment Company Act of 1940, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Contact Information

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