MONTREAL, Jan. 11, 2016 /CNW Telbec/ - O'Leary Funds Management LP (the
"Manager"), the manager of certain investment funds ("O'Leary Funds"), today announced the refiling of the restated interim management
report of fund performance of O'Leary U.S. Strategic Yield Advantaged
Fund ("OUY") and Floating Rate Income Fund ("OFR") for the six months ended June 30, 2015 (the "MRFPs").
The MRFPs have been revised to restate the management expense ratio ("MER") as well as restate the trading expense ratio ("TER") of each of OUY and OFR to take into account the fees and expenses of
the relevant reference fund. OUY and OFR each use a forward contract to
gain exposure to their respective reference fund's performance. OUY's
reference fund is O'Leary U.S. Portfolio Trust and OFR's reference fund
is O'Leary Floating Rate Portfolio Trust. The MER and TER of each of
OUY and OFR, as previously disclosed in the MRFPs, did not include the
fees and expenses of their respective reference fund as required by
section 15.2 (Fund of Fund Calculation) of Regulation 81-106 respecting Investment Fund Continuous Disclosure. Nevertheless, the management fees of each reference fund were always
disclosed in the "Management Fees" section contained in the MRFP of
each of OUY and OFR, respectively, as well as in their respective
annual information form and financial statements.
The restated interim MRFPs are available on SEDAR at www.sedar.com and the Manager's website at www.olearyfunds.com.
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 O'Leary 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 of
mutual funds and closed-end funds 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 portfolios investment objectives. Its
portfolios are diversified by sector, region and asset class. For more
details about O'Leary Funds, visit www.olearyfunds.com.
SOURCE O'LEARY FUNDS MANAGEMENT LP
For further information:
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