Raven Rock Strategic Income Fund announces annual redemption
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TORONTO, June 23, 2014 /CNW/ - Arrow Capital Management Inc. ("Arrow") announces today that 1,418,326 units of Raven Rock Strategic Income Fund (TSX: RRF.UN) (the "Fund"), representing 23% of the outstanding units of the Fund, were submitted for redemption and cancelled on the annual redemption date of May 31, 2014. Accordingly a total of 4,681,674 units remain outstanding.
Unitholders who tendered units for redemption will be entitled to receive $9.67 per unit, the net asset value per unit on the annual redemption date. Redeeming unithholders were entitled to receive the previously announced monthly distribution for May of $0.0417 per unit. The distribution payment was made on June 13, 2014.
About Arrow Capital Management Inc.
Arrow Capital Management Inc. is an employee-owned company, founded in 1999. Arrow's expertise in active portfolio management and manager selection is evident in its strong, diverse platform, which provides clients with access to a global selection of actively managed investment funds. Arrow is committed to continuously providing investors with access to a wide range of investment solutions. With over 15 years of service, Arrow has been well respected as a Canadian alternative investment company. In December of 2013, Arrow acquired BluMont Capital Corporation adding the Exemplar range of prospectus-based solutions to its platform, expanding its range of products and catering to a wider client base.
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