MONTREAL, April 29 /CNW/ - O'Leary Funds Management LP (the "Manager")
is pleased to announce that a final prospectus for the initial public
offering of the O'Leary U.S. Strategic Yield Advantaged Fund (the
"Fund") has been filed with, and a receipt therefor has been issued by,
the securities regulatory authorities in each of the provinces of
Canada. The offering is scheduled to close on May 20, 2011.
The Fund is an investment trust governed by the laws of the Province of
Ontario which proposes to issue transferable class A units ("Class A
Units") and class U units (the "Class U Units" and collectively with
the Class A Units, the "Units") of the Fund at a price of $12.00 per
Class A Unit and U.S. $12.00 per Class U Unit. The Class U Units are
designed for investors wishing to make their investment in U.S.
The Fund has been created to provide holders of units ("Unitholders")
with exposure primarily to securities of U.S. domiciled issuers having
market capitalizations of at least U.S. $1 billion, including
dividend-paying equity securities, convertible debt securities,
publicly-traded corporate bonds and floating-rate debt securities,
including non-investment grade securities. The Fund's investment
objectives are: (i) to provide Unitholders with monthly tax-advantaged
distributions consisting initially primarily of returns of capital;
(ii) to maximize total return for Unitholders; and (iii) to preserve
The Manager has retained Stanton Asset Management Inc. (the "Portfolio
Advisor") to provide investment advisory services to the Fund. The
Portfolio Advisor is a Canadian investment firm focused on global
investment opportunities, and is also the manager of a variety of
The syndicate of agents is led by CIBC and includes RBC Capital Markets,
BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc.,
TD Securities Inc., Macquarie Private Wealth Inc., Wellington West
Capital Markets Inc., Canaccord Genuity Corp., GMP Securities L.P.,
HSBC Securities (Canada) Inc., Raymond James Ltd., Dundee Securities
Ltd., Mackie Research Capital Corporation, Manulife Securities
Incorporated and MGI Securities Inc. (collectively, the "Agents").
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expect", "intend", "will" and similar
expressions to the extent they relate to the Fund. The forward-looking
statements are not historical facts but reflect the Manager'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 the Manager 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. The Manager
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.
This offering is only made by a prospectus dated April 28, 2011. The
prospectus contains important information relating to these securities.
Copies of the prospectus may be obtained from any of the Agents.
Investors should read the prospectus before making an investment
All capital terms noted herein but not defined are as per the prospectus
dated April 28, 2011.
SOURCE O'Leary U.S. Strategic Yield Advantaged Fund
For further information:
for media inquiries or additional information: please contact O'Leary Funds at firstname.lastname@example.org or at 1-877-849-2004 x226