Star Hedge Managers Corp.

Star Hedge Managers Corp.
Star Hedge Managers Corp. II

Star Hedge Managers Corp. II

January 28, 2015 14:50 ET

Star Hedge Managers Corp. and Star Hedge Managers Corp. II to be wound up

TORONTO, ONTARIO--(Marketwired - Jan. 28, 2015) - BMO Nesbitt Burns Inc., the administrator of Star Hedge Managers Corp. and Star Hedge Managers Corp. II (each, a "Fund" and together, the "Funds"), announced today that the Funds have decided to redeem all outstanding Class A Shares and terminate and wind-up the Funds by April 21, 2015 or as soon as practicable after such date (the "Wind-Up Date").

Under each of the Fund's articles of incorporation, each Fund may, in its discretion, redeem all outstanding Class A Shares and terminate the Fund without the approval of shareholders if, in its opinion, it is no longer commercially viable to continue the Fund and/or it would be in the best interests of shareholders to terminate the Fund. Given the current size of the Funds and the related expenses, it is in the best interests of the Funds' shareholders for the Class A Shares to be redeemed and the Funds to be wound up.

Prior to the Wind-Up Date, the administrator will convert the Funds' portfolios to cash to the extent practicable. On the Wind-Up Date, all property remaining after paying or providing for all liabilities and obligations of the respective Funds will be distributed pro-rata among the applicable shareholders based on the net asset value (NAV) per Class A Share of the relevant Fund.

For further information, please visit the Funds' website at www.bmocm.com/investorsolutions under "Closed-End Funds".

Contact Information

  • Investor Relations
    1-866-864-7760