SMC Man AHL Alpha Fund announces completion of initial public offering

TORONTO, May 11 /CNW/ - Scotia Managed Companies Administration Inc. is pleased to announce that SMC Man AHL Alpha Fund (the "Fund") has completed its initial public offering, raising gross proceeds of $16,070,100 through the issuance of 650,207 Class A Units and 956,803 Class F Units at a price of $10.00 per Unit.

The Fund's investment objective is to provide investors with the opportunity to realize capital appreciation through investment returns that have a low correlation to traditional forms of stock and bond securities. The Fund is intended to provide added diversification and enhance the risk/reward profile of conventional investment portfolios. To pursue its investment objective, the Fund will obtain exposure to a diversified portfolio of financial instruments across a range of global markets including currencies, bonds, stocks, agriculturals, energy, metals and short-term interest rates to be managed by the investment manager, Man Investments Limited, using a multi-strategy and predominantly trend-following trading program (the "AHL Alpha Programme"). The AHL Alpha Programme is implemented and managed by AHL, a division of Man Investments Limited.

The Class A Units and the Class F Units will not be listed on any stock exchange.

The agent for the offering was Scotia Capital Inc.

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SOURCE SMC MAN AHL ALPHA FUND

For further information: For further information: Investor Relations, SMC Man AHL Alpha Fund, (416) 862-3734, E-mail: mc_alphafund@scotiacapital.com, Web site: www.scotiamanagedcompanies.com

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SMC MAN AHL ALPHA FUND

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