TORONTO, May 5 /CNW/ - AlphaNorth Asset Management (the "Manager") is
pleased to announce that it has filed a preliminary simplified
prospectus for a new open-ended mutual fund: AlphaNorth Growth Fund
(the "Fund"), a class of shares of AlphaNorth Mutual Funds Limited. The
Fund will employ a similar investment methodology as the AlphaNorth
Partners Fund and will seek to generate industry leading long term
returns by providing investors with exposure to Canadian companies.
The Fund is expected to have an initial closing date in late May 2011
pending the issue of a receipt for the final simplified prospectus.
The Fund will be managed by Steve Palmer and provided that AlphaNorth
Mutual Funds Limited qualifies as a "mutual fund corporation" under the
Income Tax Act (Canada) (the "Tax Act"), shares of the Fund will be qualified
investments under the Tax Act for trusts governed by registered
retirement savings plans, registered retirement income funds, deferred
profit sharing plans, registered disability savings plans, tax free
savings accounts and registered education savings plans. The Fund will
launch at $10 per share and with a minimum subscription amount of
$1,000. FundSERV codes for Series A and F shares are AAM400 and AAM401
respectively. After the initial closing, the Fund will be available for
purchase on a daily basis at the prevailing net asset value per share
of the Fund.
About AlphaNorth Asset Management
AlphaNorth Asset Management is a Toronto-based investment management
firm with over $150 million in assets under management. It also manages
the AlphaNorth Partners Fund, the AlphaNorth 2010 Flow-Through Limited
Partnership and the AlphaNorth 2011 Flow-Through Limited Partnership.
Commissions, trailing commissions, management fees and expenses all may
be associated with mutual fund investments. Please read the prospectus
before investing. Mutual fund securities are not guaranteed, their
values change frequently and past performance may not be repeated.
A preliminary prospectus relating to the Fund has been filed with
securities commissions or similar authorities in Ontario, British
Columbia and Alberta. You cannot buy shares of the Fund until the
relevant securities commissions or similar authorities issue receipts
for the simplified prospectus of the Fund.
SOURCE AlphaNorth Asset Management
For further information:
For more information on AlphaNorth Asset Management, please visit www.alphanorthasset.com or contact Skye Collyer, Vice President, Sales and Marketing, at (416) 506-0776 x227 or Skye@alphanorthasset.com