TORONTO, Sept. 11 /CNW/ - Star Hedge Managers Corp. advises that Dynamic
Power Hedge Fund (the "Dynamic Fund") - a fund in which Star Hedge Managers
Corp. invests - reported a new net asset value ("NAV") per Class FC unit of
$58.72 as of September 4, 2009. This represents an increase of $7.13 per Class
FC unit above the $51.59 NAV per Class FC unit reported as at August 28, 2009.
Star Hedge Managers Corp. reported undiluted and diluted Net Asset Values
per Class A Share as at August 31, 2009 of $11.1223 and $10.6099,
respectively. Such values were computed using the $51.59 NAV per Class FC unit
of the Dynamic Fund as at August 28, 2009, and not the subsequently reported
$58.72 NAV per Class FC unit of the Dynamic Fund posted September 4, 2009.
Star Hedge Managers Corp. holds 460,916.889 Class FC units of the Dynamic
Fund. Class FC units of the Dynamic Fund are closed to new investment and have
a "high water mark" of $85.87 per Class FC unit which must be attained before
performance fees are paid in such fund.
The $11.1223 undiluted Net Asset Value per Class A Share of Star Hedge
Managers Corp. represents an increase over Fund's initial Net Asset Value per
Class A Share of $9.3614, posted on September 30, 2008.
Both the $11.1223 undiluted NAV per Class A Share and $10.6099 diluted
NAV per Class A Share represent a premium over the $10.35 exercise price for
the Warrants for Class A Shares. Warrants are exercisable October 30, 2009.
The closing prices for Class A Shares and Warrants on The Toronto Stock
Exchange on September 10, 2009 were $10.00 and $0.105, respectively.
About Star Hedge Managers Corp.
The Fund has been created to provide long-term capital growth by
investing in a portfolio consisting of private investment funds or portfolios
managed by three of Canada's leading portfolio managers: Rohit Sehgal of
Dynamic Funds, Eric Sprott of Sprott Asset Management Inc. and Normand
Lamarche of Front Street Investment Management Inc.
Class A Shares and Warrants to purchase Class A Shares are listed on the
Toronto Stock Exchange under the symbols XHM.A and XHM.WT
For more information please visit the Fund's website at
www.bmocm.com/bmosp under "Closed-End Funds".
For further information:
For further information: BMO Financial Group, Mark W. Lobsinger, (416)
359-7742, Internet: www.bmocm.com/bmosp, Closed End Funds