Marquest Canadian Equity Income Fund Files Final Prospectus

TORONTO, April 29 /CNW/ - Marquest Canadian Equity Income Fund (the "Fund") announces that it has filed a final prospectus dated April 28, 2011 with the securities regulatory authorities of each of the Canadian provinces and territories for an initial public offering (the "Offering") of up to 10,000,000 units (the "Units") at a price of $10.00 per Unit, for a maximum offering size of $100 million.  The Offering is scheduled to close on May 9, 2011.  The Toronto Stock Exchange (the "TSX") has conditionally approved the listing of the Units under the symbol "MIF", subject to the fulfillment of TSX requirements.

The Fund's investment objectives are to provide holders with:

        (i)       monthly distributions; and
        (ii)       the opportunity for long-term capital appreciation.

In order to achieve the Fund's investment objectives, the Fund will invest in a broadly diversified portfolio (the "Portfolio") of the securities (the "Portfolio Securities") comprising the S&P/TSX Equity Income Index (the "Index") in approximately the same weightings as in the Index and may sell covered call options on the Portfolio Securities from time to time in order to enhance returns and lower the overall volatility of the Portfolio.

The Fund's initially monthly distribution is expected to be $0.0583 per Unit (approximately $0.70 per annum, representing an annual cash distribution of 7.00% based upon the $10.00 per Unit issue price).

The Index is market capitalization weighted and is comprised of 50 to 75 of the highest yielding securities selected from the S&P/TSX Composite Index with each constituent being capped at 5% of the Index and each Global Industrial Classification Standard sector being capped at 30% of the Index.  The manager of the Fund, Marquest Asset Management Inc. ("Marquest"), believes that the Index will become the new benchmark for equity income mandates in Canada and that the securities comprising the Index will benefit from the positive outlook for the Canadian economy, which is being driven by the improving prospects of the global economic recovery.

Marquest is a private Canadian investment management firm which offers a diverse range of quality equity and fixed income investment products to retail and institutional investors.

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

The Offering is made by way of a prospectus dated April 28, 2011.  The prospectus contains important information relating to the Units.  Copies of the prospectus may be obtained from any of the Agents.  Investors should read the prospectus before making an investment decision.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund in the United States.

"Standard & Poor's®" and "S&P®" are trademarks of Standard & Poor's ("S&P") and have been licensed for use by the Fund. "TSX®" is a trademark of the TSX, Inc. and has been licensed for use by S&P. The Fund is not sponsored, endorsed, sold or promoted by S&P or the TSX, Inc. and neither S&P nor the TSX, Inc. make any representation regarding the advisability of investing in the Fund.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "targeted", "may", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect Marquest's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Marquest believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Marquest undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

SOURCE Marquest Asset Management Inc.

For further information:

please call Andrew A. McKay, President, Marquest at 416-777-7312 or Andrew Bentley, Executive Vice President, Marquest at 416-777-7352 or 1-877-777-1451 or visit www.marquest.ca.

Profil de l'entreprise

Marquest Asset Management Inc.

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