AlphaNorth Asset Management Announces AlphaNorth 2013 Flow-Through Limited Partnership A Short Duration Limited Partnership
TORONTO, Feb. 20, 2013 /CNW/ - AlphaNorth Asset Management is pleased to announce that AlphaNorth 2013 Flow-Through Limited Partnership (the "Partnership") is now taking subscriptions in connection with a private placement by offering memorandum. This is AlphaNorth's fourth flow-through limited partnership offering.
The price per unit is $10.00 with a minimum subscription of 1,000 units ($10,000). The closing is expected to take place in late February 2013, with rollover and dissolution expected in early 2014.
Investment Objective of the Partnership
The Partnership's investment objective is to provide for a tax-assisted investment in a diversified portfolio of flow-through shares and other securities, if any, of junior and intermediate resource companies with a view to maximizing tax benefits and achieving capital appreciation for its' limited partners. The Partnership's focus is on resource companies whose principal business will be (i) mineral exploration, development and production, (ii) oil and gas exploration, development and production, or (iii) certain energy production that may incur start-up phase costs of renewable energy projects. AlphaNorth GP Inc., the general partner of the Partnership, expects investors to receive a tax deduction for the 2013 taxation year equal to 102% of the amount invested and 122% over the total period (assuming a $1 million offering and based upon other assumptions set forth in the Partnership's Offering Memorandum in respect of the offering).
Manager and Portfolio advisor:
The Partnership has retained AlphaNorth Asset Management (the "Manager") to provide investment, management, administrative and other services. The Manager currently provides management services to AlphaNorth Partners Fund Inc., a long biased, small cap hedge fund focusing primarily on Canadian companies, including resource companies. The AlphaNorth Partners Fund was awarded Best Performance at the 2012 and 2011 Canadian Hedge Fund Awards.
The Manager, led by Chief Executive Officer, Steven Palmer, will provide investment advisory and portfolio management services to the Partnership and will direct the day-to-day business operation and affairs of the Partnership. The Manager also manages the AlphaNorth 2012 Flow-Through Limited Partnership, the AlphaNorth 2011 Flow-Through Limited Partnership, and the AlphaNorth Growth Fund.
Steve Palmer, Chief Investment Officer and Portfolio Manager, supports the view that small cap equities are the best performing asset class over the long-term, particularly following a period of significant decline as was the case in 2011 and 2012. Steve Palmer believes: "Equities have lagged the underlying strength in many commodities. This is a timely launch as our bullish macro call presents a compelling risk/reward opportunity from current levels for resource equities."
Please refer to the Offering Memorandum for complete terms.
SOURCE: AlphaNorth Asset ManagementFor further information:
please contact your advisor. You may also visit our website at www.alphanorthasset.com or contact Skye Collyer, Vice President, Sales and Marketing at 416-506-0776 (ext. 227) or firstname.lastname@example.org