U.S. Housing Recovery Fund
TSX : USH.UN

U.S. Housing Recovery Fund

October 16, 2017 18:48 ET

U.S. Housing Recovery Fund to Be Wound Up

TORONTO, ONTARIO--(Marketwired - Oct. 16, 2017) -

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

In accordance with its declaration of trust, as amended, U.S. Housing Recovery Fund (TSX:USH.UN) (the "Fund") will terminate on or about October 31, 2017.

On October 16, 2017, following the completion of the conversion of the assets of the Fund to cash, and the satisfaction of, or provision for, all liabilities of the Fund, the net asset value ("NAV") of the Class A Units (the "Class A Units") of the Fund was $10.1078 per Class A Unit and the NAV of the Class F Units (the "Class F Units", collectively with the Class A Units, the "Units") of the Fund was $10.6515 per Class F Unit. The Class A Units will be delisted from the Toronto Stock Exchange on or about October 31, 2017. Payment of the net assets of the Fund, on a pro rata basis based on the NAV of the classes of Units, will be made to holders of Units on or about November 3, 2017. Following such distribution, the Fund will terminate.

Of the $10.1078 distribution per Class A Unit, an estimated $2.17 will be a special capital gains distribution and the balance of $7.9378 will represent proceeds of disposition for tax purposes. Of the $10.6515 distribution per Class F Unit, an estimated $1.8470 will be a special capital gains distribution and the balance of $8.8045 will represent proceeds of disposition for tax purposes.

Further information about U.S. Housing Recovery Fund can be found at www.bmocm.com/investorsolutions under "Investment Funds".

Contact Information

  • BMO Capital Markets
    1.866.864.7760