Canadian High Yield Focus Fund Files Final Prospectus for Maximum $75 Million Offering

TORONTO, May 27, 2011 /CNW/ - Canadian High Yield Focus Fund (the "Fund") announces that it has filed a final prospectus dated May 26, 2011 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering of transferable trust units (the "Units") of the Fund at $12 per Unit, for a maximum offering size of up to $75 million, plus any Units issued pursuant to the over-allotment option. The offering is scheduled to close on June 16, 2011. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Units under the symbol CAH.UN, subject to the fulfillment of TSX requirements.

The Fund will obtain exposure to a diversified portfolio comprised primarily of high yield bonds of Canadian issuers. The Fund will be managed by Propel Capital Corporation ("Propel"). The Fund's portfolio manager will be Fiera Sceptre Inc. ("Fiera").

The Fund's investment objectives are to provide holders of Units with: (i) quarterly tax-advantaged distributions; and (ii) capital preservation.

Propel is responsible for creating, structuring, managing, and promoting the Fund. Propel will retain Fiera to provide portfolio management services to the Fund. Fiera is one of the largest independent money managers in Canada with over $29 billion in assets under management, including approximately $18 billion in fixed income assets.

The syndicate of agents for this offering is being co-led by BMO Capital Markets, CIBC and RBC Capital Markets, and includes GMP Securities L.P., National Bank Financial Inc., TD Securities Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Canaccord Genuity Corp., Dundee Securities Ltd., Macquarie Private Wealth Inc., Raymond James Ltd., Wellington West Capital Markets Inc. and Manulife Securities Incorporated.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from one of the above-noted agents. Investors should read the prospectus before making an investment decision.

SOURCE Canadian High Yield Focus Fund

For further information:

Raj Lala, President, Propel Capital at 416-572-2364 or visit www.propelcapital.ca

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Canadian High Yield Focus Fund

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