Initiation of Monthly Distribution

TORONTO, ONTARIO--(Marketwired - Aug. 13, 2013) - Taylor North American Equity Opportunities Fund (the "Fund") (TSX:TOF.UN) is pleased to announce that effective immediately, the Fund intends to make monthly distributions to unitholders. The Fund will not have a fixed distribution, but intends to set periodic distribution targets based on, among other things, the actual and expected returns on the Fund's portfolio and the Fund's estimated expenses. The amount of distributions may fluctuate from month to month and there can be no assurance that the Fund will make any distribution in any particular month.

The Fund's initial distribution target is $0.0520 per unit per month ($0.6240 p.a., or approximately 5.0% of NAV per annum). The first distribution is scheduled to be paid on September 16, 2013 to unitholders of record at the close of business on August 30, 2013.

The Fund's NAV per Unit was $12.46 on August 9, 2013. Since inception on June 19, 2012, the Fund's net asset value has grown by $3.27 per unit (adjusted for 2012 the year-end cash distribution), representing annualized performance of 30.4% since inception¹. The Fund outperformed the S&P/TSX Composite Index and the S&P 500 Index by 21.5% p.a. and 6.4% p.a., respectively, over the same period.

The strong performance of the Fund resulted in a special distribution being paid to unitholders at the end of the 2012 tax year. Going forward, the manager of the Fund has determined that it is in the best interest of the Fund to pay a monthly distribution to manage the potential need to distribute gains. For investors that wish to reinvest their cash distributions in new units of the Fund, the Manager plans to implement a distribution reinvestment plan ("DRIP"). The DRIP will not be available for the first distribution, but it is expected to be in place for subsequent distributions.

David Taylor is the portfolio manager responsible for the Fund's portfolio and is a recipient of the Brendan Wood 2012 Canadian TopGun Investment Mind Award. Mr. Taylor has produced strong returns for the Fund and has delivered on his commitment to find excellent value stocks in the current market. As of July 31, 2013, the Fund's portfolio was 61% invested in US equities, providing investors with exposure to attractive opportunities in the US equities market and, to a lesser extent, the Canadian equities market.

Taylor employs a value-driven investment strategy to construct a portfolio that seeks to balance long-term capital growth with capital preservation, and invests opportunistically in equity and equity-related securities of issuers that the portfolio manager believes are fundamentally sound and are trading at a discount to their intrinsic value.

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, email info@bromptongroup.com or visit our website at www.bromptongroup.com.

About Taylor Asset Management

Taylor Asset Management Inc. is an independent investment management firm, founded by award-winning portfolio manager David Taylor to meet the needs of individual and institutional investors. Mr. Taylor was previously the lead equity portfolio manager for several funds from late 2002-2011 which won 15 Lipper Awards, and also won Morningstar Canada's Best Canadian Equity Fund award for 2006, 2009, and 2010. The firm's research-intensive, risk-sensitive, fundamentals-based investment process focuses on identifying securities that are undervalued to develop portfolios that deliver strong long-term growth consistent with core investments. www.taylorassetmanagement.com.

¹ As of August 9, 2013. Performance reflects annualized compound total returns based on net asset value and assumes cash distributions made by the Fund were reinvested in additional units of the fund at net asset value per unit.

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.