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TORONTO, Dec. 3, 2013 /CNW/ - Arrow Capital Management Inc. ("Arrow") is
pleased to announce that it has received all necessary approvals of
applicable securities regulatory authorities and that on December 2,
2013 it completed the previously announced transaction in respect of
its purchase of BluMont Capital Corporation ("BluMont") from Integrated
Asset Management Corp. (TSX: IAM).
BluMont is the manager of the Exemplar Global Agriculture Fund, the
Exemplar Global Infrastructure Fund, the Exemplar Leaders Fund, the
Exemplar Timber Fund, the Exemplar Yield Fund, the Exemplar Canadian
Focus Portfolio and the Exemplar Diversified Portfolio (the "Exemplar
Funds"). Arrow will continue to use the Exemplar Funds brand for our
actively managed prospectus offered mutual funds.
Effective immediately, James McGovern, Chief Executive Officer of Arrow
and Robert Maxwell, Chief Financial Officer of Arrow, will become the
respective Chief Executive Officer and Chief Financial Officer of
BluMont. Also, Mr. McGovern and Mr. Maxwell have been appointed as
directors of BluMont, such that the board of directors of BluMont will
be comprised of James McGovern, Robert Maxwell and Veronika Hirsch.
The same individuals also are now the officers and directors of the
Exemplar Portfolios Ltd., which includes the Exemplar Canadian Focus
Portfolio class of shares and the Exemplar Diversified Portfolio class
Both BluMont and Arrow are based in Toronto. All of the portfolio
managers and advisors, including Veronika Hirsch, Alex Ruus, Capital
Innovations, LLC and Integrated Managed Futures Corp., will continue to
provide services to their respective funds. The combined platforms will
provide investors with greater investment choices, an improved level of
service, and the expectation of a decrease in costs based on the
capacity of a larger company.
The Independent Review Committee for the Exemplar Funds has been
re-constituted with members Ross MacKinnon, Ronald Riley and John
At a special meeting of the security holders of the Exemplar Funds, the
security holders approved a change of manager from BluMont to Arrow.
Arrow intends to amalgamate with BluMont within the next six months
continuing under the name "Arrow Capital Management Inc.". The
directors and senior officers of the combined company will be the
current directors and senior officers of Arrow.
Founded in 1999, Arrow is an employee-owned company focused on
alternative asset management and manager selection. Its strong, diverse
platform provides access to a global selection of innovative investment
funds across a range of asset classes, strategies and both single- and
Arrow has $1.2 billion in assets under management, including its joint
venture with Generation Asset Management based in London, England.
SOURCE: Arrow Capital Management Inc.
For further information:
Managing Director and CEO
Arrow Capital Management Inc.