/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
TORONTO, Jan. 24, 2012 /CNW/ - Creststreet Asset Management Limited
today announced that on January 20, 2012, the rollover of Creststreet
2010 Flow-Through Limited Partnership (the "Partnership"), National
Class units CUSIP #22630D-10-3, ("C2010-National Class") and Quebec Class units CUSIP #22630D-20-2, ("C2010-Quebec Class") into Series 2012N Shares and Series 2012Q Shares (the "Shares") of
the Creststreet Resource Class (the "Creststreet Resource Fund") of
Creststreet Mutual Funds Limited (the "Mutual Fund") was completed.
The assets of the Partnership comprising the C2010-National Class were
exchanged on a tax-deferred basis for Series 2012N Shares of the
Creststreet Resource Fund of equal value. The assets of Partnership
comprising the C2010-Quebec Class were exchanged on a tax-deferred
basis for Series 2012Q Shares of the Creststreet Resource Fund of equal
value. The Net Asset Value per Share of Creststreet Resource Fund at
the time of rollover was $3.8004. Immediately after the rollover on
January 20, 2012, the Partnership was dissolved.
Limited Partners of the C2010-National Class received 1.4829736360 Series 2012N Shares (Fund Code: CAM111) for each
C2010-National Class unit held. The Net Asset Value per C2010-National Class unit at the time of the rollover was $5.6364. The adjusted cost base for
tax purposes was retained on the tax-deferred rollover from the C2010-National Class and is $0.2602 per Series 2012N Share of the Creststreet Resource Fund.
Limited Partners of the C2010-Quebec Class received 1.3863725335 Series 2012Q Shares (Fund Code: CAM112) for each
C2010-Quebec Class unit held. The Net Asset Value per C2010-Quebec Class unit at the time of the rollover was $5.2693. The adjusted cost base for tax
purposes was retained on the tax-deferred rollover from the C2010-Quebec Class and is $0.0712 per Series 2012Q Share of the
Creststreet Resource Fund.
The Shares will be redeemable and exchangeable beginning March 30, 2012. The Mutual Fund does not charge redemption fees on the Shares. The Shares will be automatically converted into Series B shares of
the Creststreet Resource Fund of equal value on or about September 30,
2012 or such earlier date as may be determined by the manager of the
Creststreet Resource Fund.
Creststreet offers two additional mutual fund classes, the Creststreet
Alternative Energy Fund and the Creststreet Dividend & Income Fund,
allowing investors to switch between fund classes to further diversify
their investment on a tax-deferred basis. Creststreet Mutual Funds are
also RRSP/RRIF/TFSA eligible.
About Creststreet Resource Fund
The Creststreet Resource Fund is a diversified natural resources fund
that invests in a broad selection of energy, mining, metals and
agricultural related equity securities. To track the performance of
Creststreet Resource Fund and for further information on additional
fund classes of Creststreet Mutual Funds, please visit our website www.creststreet.com, where we update net asset values on a weekly basis.
Creststreet is a performance driven, independent asset management firm,
founded on the premise that commodities are an increasingly scarce
resource that will increase in value over time, providing attractive
long-term investment opportunities.
Since its inception in 2000, Creststreet has raised over $1 billion for
resource investments. Creststreet has built a committed investment
management team with more than 30 years of combined resource investment
experience. Creststreet seeks to provide its investors superior, risk
adjusted returns in unique core and specialty products by combining our
rigorous internal research processes with our active portfolio
SOURCE Creststreet 2010 Flow-through Limited Partnership
For further information:
Vice President, Compliance and Investment Services
Creststreet Asset Management Limited
Tel: (416) 864-3125
Toll Free : 1-866-864-6330