/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES./
TORONTO, Jan. 26, 2012 /CNW/ - Connor, Clark & Lunn Capital Markets Inc.
(the "Manager") is pleased to announce that a final prospectus for Low
Volatility Canadian Equities Income Fund (the "Fund") has been filed
and receipted by the securities regulatory authorities of all the
Canadian provinces and territories for an initial public offering of
Units of the Fund. The Fund is a closed-end investment fund
established under the laws of the Province of Ontario which proposes to
offer Units at a price of $10.00 per Unit. The maximum amount of the
offering is $100 million. The offering is expected to close on or
about February 7, 2012. The Toronto Stock Exchange ("TSX") has
conditionally approved the listing of the Units under the symbol
The Fund has been created to invest in an equally-weighted portfolio
comprised of the 30 equity securities which have the lowest volatility
of those securities included in the S&P/TSX Composite Index that have a
minimum specified current yield at the time of investment. The Manager
will write covered call options from time to time on up to 25% of the
Portfolio in order to seek to earn income from option premiums to
supplement the dividends and distributions generated by the Portfolio
and to further decrease the overall volatility of returns associated
with the Portfolio Securities.
The Fund's investment objectives are to provide Unitholders with: (i)
stable monthly distributions; (ii) the opportunity for capital
appreciation; and (iii) an investment in a portfolio of Canadian equity
securities that exhibit low volatility of returns. Based on current
estimates and the assumptions set out in the final prospectus, the
Fund's initial distribution target is expected to be $0.05 per Unit per
month, representing an initial yield on the Unit issue price of 6.0%
Connor, Clark & Lunn Capital Markets Inc. will act as Manager of the
Fund. The Manager is also the manager of a variety of funds and is part
of the Connor, Clark & Lunn Financial Group, a multi-boutique asset
The Units are being offered for sale by a syndicate of agents co-led by
BMO Capital Markets, CIBC and RBC Capital Markets, and including TD
Securities Inc., GMP Securities L.P., National Bank Financial Inc.,
Scotia Capital Inc., HSBC Securities (Canada) Inc., Macquarie Private
Wealth Inc., Raymond James Ltd., Canaccord Genuity Corp. and Mackie
Research Capital Corporation.
This offering is only made by prospectus. The prospectus contains
important detailed information about the securities being offered.
Copies of the final prospectus may be obtained from any of the
above-mentioned agents. Investors should read the prospectus before
making an investment decision.
SOURCE Connor, Clark
For further information:
please visit www.cclcapitalmarkets.com or contact:
Vice President & CFO
Connor, Clark & Lunn Capital Markets Inc.
(416) 214-6182 or 1 (888) 276-2258