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TORONTO, Aug. 19, 2014 /CNW/ - Arrow Capital Management Inc. ("Arrow") today announced that based upon unitholder and securities regulatory authority approval, the Arrow High Yield Fund was merged into the Raven Rock Income II Fund ("the Funds") on August 15, 2014.
The merging of the two Funds eliminates the duplication of the investment similarities and improves the cost efficiencies for the Funds, both of which are sub-advised by Raven Rock Capital Management, LLC ("Raven Rock"). Raven Rock is now able to focus on a single core investment strategy, which continues to be a unique offering in the Canadian fund universe. The Raven Rock Income II Fund combines hedged exposure to the US convertible bond market, as well as various other US corporate debt securities including high yield bonds. The ability of the Fund to tactically adjust the Fund's corporate bond exposure is designed to protect investor capital and generate positive returns in all market environments.
The Raven Rock Income II Fund is available for purchase for accredited investors in Canada. A similarly mandated closed end version of this Fund, the Raven Rock Strategic Income Fund, is available to all investors as it trades on the S&P/TSX under the symbol RRF.UN.
Founded in 1999, Arrow is an employee-owned company focused on alternative asset management and manager selection. Its strong, diverse platform provides access to a global selection of innovative investment funds across a range of asset classes, strategies and both single- and multi-manager portfolios.
Arrow has $1.1 billion in assets under management, including its joint venture with Generation Asset Management based in London, England.
SOURCE: Arrow Capital Management Inc.
For further information: Robert Parsons, Managing Director & COO, Arrow Capital Management Inc., (416) 323-0477, email@example.com, www.arrow-capital.com