TORONTO, July 17, 2013 /CNW/ - Marret Asset Management Inc. ("Marret")
announces today that 30,157,174 units of Marret High Yield Strategies
Fund (TSX: MHY.UN) (the "Fund"), have been submitted for redemption in
advance of the annual redemption date of July 30, 2013, and that
36,861,267 units will remain outstanding. Unitholders who tendered
units for redemption will be entitled to receive the net asset value
per unit of the Fund as at July 30, 2013, less any costs associated
with the redemption, including commissions and other such costs, if
any, related to the partial settlement of the forward agreement through
which the Fund obtains exposure to the underlying portfolio held by MHY
Trust (the "Underlying Portfolio") to fund such redemption. Redeeming
unitholders will also be entitled to receive the previously announced
monthly distribution for July of $0.05 per unit. Payment of redemption
proceeds will be made on or about August 22, 2013.
About Marret Asset Management Inc.
Marret Asset Management Inc. is an employee-owned firm based in Toronto.
Marret and its experienced team of investment professionals led by
Barry Allan specialize exclusively in fixed income and, particularly,
in high yield debt strategies. Barry Allan, the President and Chief
Investment Officer, founded Marret in 2000, following a career at
Altamira, Nesbitt Thomson and a Canadian chartered bank. Mr. Allan has
over 30 years of experience in credit and fixed income markets.
SOURCE: Marret High Yield Strategies Fund
For further information:
Marret Investor Relations at 416-214-5800 or firstname.lastname@example.org., or about Marret, go to www.marret.com