MONTREAL, Feb. 1 /CNW/ - O'Leary Funds Management LP (the "Manager") is
pleased to announce that a final prospectus for the initial public
offering of the Yield Advantaged Convertible Debentures Fund (the
"Fund") has been filed with, and a receipt therefor has been issued by,
the securities regulatory authorities in each of the provinces of
Canada. The offering is scheduled to close on February 18, 2011.
The Fund is an investment trust governed by the laws of the Province of
Ontario and was created to provide unitholders with exposure to
publicly-traded convertible debentures of global and Canadian issuers.
The Fund's investment objectives are to: (i) provide unitholders with
monthly tax-advantaged distributions consisting initially primarily of
returns of capital targeted to be $0.07 per unit ($0.84 per annum
representing an annual cash distribution of 7% based on the $12.00 per
unit issue price); (ii) maximize total return for unitholders; and
(iii) preserve capital.
The Manager has retained Stanton Asset Management Inc. (the "Portfolio
Advisor") to provide investment advisory services to the Fund. The
Portfolio Advisor is a Canadian investment firm focused on global
investment opportunities, and is also the manager of a variety of
The syndicate of agents is led by CIBC and includes National Bank
Financial Inc., Scotia Capital Inc., BMO Capital Markets, Macquarie
Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd.,
Wellington West Capital Markets Inc., HSBC Securities (Canada) Inc.,
Desjardins Securities Inc., Mackie Research Capital Corporation,
Manulife Securities Incorporated and MGI Securities Inc. (collectively,
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 the Fund. The forward-looking
statements are not historical facts but reflect the Manager'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 the Manager 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. The Manager
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.
This offering is only made by a prospectus dated January 27, 2011. The
prospectus contains important information relating to these securities.
Copies of the prospectus may be obtained from any of the Agents.
Investors should read the prospectus before making an investment
All capital terms noted herein but not defined are as per the prospectus
dated January 27, 2011.
SOURCE Yield Advantaged Convertible Debentures Fund
For further information:
for media inquiries or additional information: please contact O'Leary Funds at firstname.lastname@example.org or at 1-877-849-2004 x226