TORONTO, ONTARIO--(Marketwired - May 28, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Brompton Funds Limited (the "Manager") is pleased to announce that Goldman Sachs U.S. Income Builder Trust (the "Fund") has filed a final prospectus relating to the Fund's initial public offering of Units with a maximum offering size of $250 million. The Fund is offering Class A Units at a price of $10.00 per Class A Unit and Class U Units at a price of US$10.00 per Class U Unit. The Class U Units are designed for investors wishing to make their investment in U.S. dollars. Closing is scheduled to occur on or about June 23, 2014.
The investment objectives of the Fund are to seek to provide (i) income; and (ii) capital appreciation, in each case, through investing in an actively managed, diversified portfolio comprised primarily of U.S. fixed income and equity securities. Goldman Sachs Asset Management, L.P. ("GSAM") has been retained as the sub-adviser of the Fund. GSAM will draw on its deep research capabilities and global team of investment professionals from its Global Fixed Income and Fundamental Equity Groups to select investments for the portfolio. The Fund has a baseline allocation to fixed income securities of 60% and to equity securities of 40%. In seeking to meet its investment objectives, the Fund has the flexibility to opportunistically tilt the allocation of total assets to fixed income and equity securities up to 15% above or below the baseline allocation. GSAM expects to actively manage the duration of the Portfolio's fixed income positions, with a view to reducing the interest rate sensitivity of the Portfolio's fixed income positions during periods of rising interest rates and extending duration when it anticipates that interest rates are trending lower.
The syndicate of agents for the Offering is being led by RBC Capital Markets and CIBC and includes TD Securities Inc., Scotiabank, BMO Capital Markets, National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.
About Brompton Funds
Brompton Funds, a division of Brompton Group, is an experienced investment fund manager operating since 2002. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms and supported by strong corporate governance.
For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000, (toll-free at 1-866-642-6001), e-mail email@example.com or visit our website at www.bromptongroup.com.
About Goldman Sachs Asset Management
GSAM is one of the world's leading investment managers with over 2,000 professionals including over 700 investment professionals across 32 offices worldwide. GSAM's investment teams are able to capitalize on the market insights, risk management expertise and technology of the Goldman Sachs Group. As of December 31, 2013, GSAM had (including its advisory affiliates) U.S.$807.6 billion in assets under management worldwide.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.