TORONTO, Sept. 30, 2011 /CNW/ - Diversified Alpha Fund II (the "Fund")
announces that it has filed a preliminary prospectus dated September
30, 2011 with the securities regulatory authorities of all of the
Canadian provinces and territories for an initial public offering of
transferable trust units (the "Units") of the Fund at $10.00 per Unit.
The Fund will provide holders of Units ("Unitholders") exposure to a
diversified portfolio of investments managed by GMP Investment
Management ("GMPIM"). GMPIM will use its proprietary process of capital
allocation and risk management to invest both long and short, across
its four Core Asset Strategies of (i) equities; (ii) credit; (iii)
quantitative (primarily options and futures contracts), and (iv) cash.
The Fund will be managed by Propel Capital Corporation ("Propel").
The Fund's investment objectives are to: (i) preserve capital; (ii)
maximize risk adjusted absolute returns while minimizing down-side
volatility; and (iii) provide Unitholders with quarterly,
The distributions are initially targeted to be 6.0% per annum on the
subscription price of $10.00 per Unit ($0.15 per Unit per quarter or
$0.60 per annum). The Fund will not have a fixed distribution amount
but will determine and announce in June and December of each year an
indicative distribution amount for the following two quarters.
The syndicate of agents for this offering is being led by CIBC, GMP
Securities L.P., and RBC Capital Markets, and includes Scotia Capital
Inc., TD Securities Inc., Canaccord Genuity Corp., HSBC Securities
(Canada) Inc., Macquarie Private Wealth Inc., Raymond James Ltd.,
Desjardins Securities Inc., and Dundee Securities Ltd.
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in each of the provinces and territories of Canada. The
preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus may be obtained from one of the
agents noted above. There will not be any sale or any acceptance of an
offer to buy the securities until a receipt for the final prospectus
has been issued.
SOURCE Diversified Alpha Fund II
For further information:
Raj Lala, President, Propel Capital at 416-572-2364 or visit www.propelcapital.ca