Creststreet Dividend & Income Fund Declares Monthly Distribution


TORONTO, Nov. 29, 2012 /CNW/ - Creststreet Dividend & Income Fund (the "Fund"), a class of Creststreet Mutual Funds Limited, is pleased to announce that a distribution in the amount of $0.034 per share will be paid on November 30, 2012 to shareholders of record at the close of business on November 29, 2012.  This is a monthly declaration of a distribution for the Fund and will be taxed as a capital gain in the hands of the investor.  Distributions are automatically re-invested in additional shares of the Fund.  To change the distribution type to cash would require notice on the part of the investor.

The Fund's objective is to provide a high level of stable investment returns through a combination of interest, dividends and capital gains while emphasizing capital preservation.  The Fund invests a diversified portfolio of equity and fixed income securities of primarily Canadian issuers which will include income trusts including one or more of business income trusts, convertible debentures of trusts, oil and gas trusts and real estate investment trusts.  The Fund will employ a value-based approach to investing with an emphasis on long-term value. This involves direct assessments and detailed analysis on a company basis of management, its industry, business and asset strengths, weaknesses and exposures. Greater emphasis will be placed on valuation criteria applicable to both corporations and trusts such as EBITDA multiples, cash flow multiples, net asset values and other industry specific measures. In addition, security specific factors such as cash-on-cash yields and stability ratings will be included. Assessments of the company's or trust's industry position, balance sheet strength, future growth potential, its ability to execute successful acquisitions and its access to capital are also key components.  Any distributions that are made by the Fund that are in excess of the Fund's cumulative income generated since the Fund's inception represent a return of an investor's capital.  The fundcodes for the Fund are CAM300, CAM301 and CAM302.

In connection with the previously announced agreement between Creststreet Asset Management Limited ("Creststreet") and Brompton Funds Limited ("Brompton"), Brompton will acquire, among other things, the rights to provide management and administration and portfolio management services to the Creststreet Dividend & Income Fund, on or about November 30, 2012.

Brompton currently manages 12 closed-end and flow-through funds with assets under management of over $1.2 billion. Brompton launched its first closed-end investment fund in February 2002 and currently offers a range of monthly income and growth products, all of which trade on the TSX, as well as flow-through limited partnerships. Brompton is focused on meeting the needs of investors by offering innovative products with client friendly terms and supported by strong corporate governance.


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 Creststreet, Brompton and Brompton's proposed acquisition of the rights to provide management and administration and portfolio management services to the Creststreet Dividend & Income Fund. The forward-looking statements are not historical facts but reflect Creststreet'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 Creststreet 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. Creststreet 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. For a complete disclosure record of Creststreet Dividend & Income Class, please visit its profile at

SOURCE: Creststreet Dividend & Income Fund

For further information:

Robert Toole, Chief Executive Officer, Creststreet Asset Management Limited, (416) 862-7018
Mark Caranci, Chief Executive Officer, Brompton Funds Limited, (416) 642-6004

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Creststreet Dividend & Income Fund

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