Salida Wealth Preservation (Listed) Fund

February 27, 2012 07:45 ET

Salida Wealth Preservation (Listed) Fund Announces Anticipated Distributions

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2012) -


Salida Capital LP, as manager (the "Manager") of the Salida Wealth Preservation (Listed) Fund (TSX:SWP.UN) (the "Fund") announced today that the Fund anticipates making special distribution on the units of the Fund (the "Units").

After a review of the Salida Wealth Preservation Portfolio (the "Portfolio"), to which the Fund has exposure by virtue of a forward agreement, and current market conditions, the Manager has determined that the net income or net realized capital gains generated by the Portfolio should enable the Fund, by virtue of the forward agreement, to make monthly distributions in cash in an estimated amount per Unit ranging from 4-6% per annum of the net asset value of the Units in 2012. It is expected that these special distributions will be tax efficient, consisting primarily of returns of capital. Returns of capital are not immediately taxable but rather reduce the adjusted cost base of a unitholder's Units.

These distributions will be payable to unitholders of record on the last business day of each month and paid within 15 days of the end of each month. Distributions will be revisited in the first quarter of 2013. Details of each distribution, including the record and payment date, will be confirmed at the time of declaration of the distribution.

About Salida Capital LP:

Founded in 2001, Salida Capital is a natural resources investment management firm based in Toronto. Salida and its experienced team of investment professionals specialize in natural resource investing with key sectors of focus being energy, precious metals, base metals and agriculture. Salida takes an active, opportunistic management style when investing in private, small, mid and large cap resource companies. Brian Trenholm, Portfolio Manager of the Wealth Preservation Fund, joined Salida in 2004 and has over 18 years of industry experience. Prior to joining Salida, Mr. Trenholm served as a portfolio manager with Agilerus Investment Management Limited. A classic value investor, Brian combines top down and bottom up management styles with an emphasis on resource sectors.

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