MONTREAL, Feb. 17, 2016 /CNW Telbec/ - O'Leary Funds Management LP ("O'Leary" or the "Manager"), the former trustee and manager of certain investment funds ("O'Leary Funds"), announces that it has completed the previously announced transaction with Canoe Financial LP ("Canoe") pursuant to which Canoe has purchased the rights to manage the O'Leary Funds from O'Leary, along with certain related assets ("Transaction").
"We would like to thank advisors and clients for their support and the confidence they have placed with us," said Kevin O'Leary, Chairman of O'Leary Funds. "Canoe is an excellent fit for O'Leary investors, because they are independent and advisor-focused, with a similar investment philosophy as ours and excellent performance across their group of funds. This is a great opportunity for O'Leary investors who will be well-served by Canoe's award-winning portfolio management team and outstanding customer service and sales groups."
Upon the closing of the Transaction, Canoe has become the trustee and manager of the O'Leary Funds. Canoe has also retained Stanton Asset Management Inc., the former portfolio advisor of the O'Leary Funds, as sub-advisor of the Canoe Canadian Corporate Bond Fund (formerly O'Leary Canadian Bond Yield Fund) as of closing.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to the future outlook of the O'Leary Funds and anticipated distributions, events or results and may include statements regarding the future financial performance of the funds. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.
About O'Leary Funds Management LP
O'Leary Funds Management LP is a Canadian investment fund manager striving to provide Canadian investors with reliable and strategic income solutions. Based on its value-yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. Its core principles, Income, Capital Appreciation and Capital Preservation, are driven by each client's investment objectives. For more details about O'Leary Funds, visit www.olearyfunds.com.
About Canoe Financial LP
Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe is Canada's fastest-growing independent mutual fund company and currently manages approximately $3 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Canoe has expanded from its Calgary head office across Canada, including a significant presence in Toronto and offices in Vancouver, Winnipeg, Ottawa and Montreal. To learn more about Canoe Financial and its investment products, visit www.canoefinancial.com.
SOURCE O'LEARY FUNDS MANAGEMENT LP
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