Moneda LatAm Corporate Bond Fund Completes Initial Public Offering

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

TORONTO, Nov. 3, 2011 /CNW/ - Scotia Managed Companies Administration Inc. is pleased to announce that Moneda LatAm Corporate Bond Fund (the "Fund") has completed an initial public offering (the "Offering") of 4,559,824 Class A Units and 440,890 Class U Units (collectively, the "Units") of the Fund at a price of Cdn.$10.00 per Class A Unit and U.S.$10.00 per Class U Unit for gross proceeds of Cdn.$45,598,240 and U.S.$4,408,900, respectively.  The Class A Units of the Fund are listed and posted for trading on the Toronto Stock Exchange under the symbol "MLD.UN." The Class U Units will not be listed on a stock exchange but may be converted into Class A Units on a weekly basis for liquidity purposes.

The Fund is a closed-end investment fund established as a trust under the laws of the Province of Ontario. The Fund has been established to provide holders of Units (the ''Unitholders'') with investment exposure to a diversified portfolio of fixed income securities of companies located in, or with significant operations in, Latin America, primarily denominated in U.S. dollars. The Fund's investment objectives are to: (i) preserve and enhance the net asset value of the Fund; and (ii) provide Unitholders with quarterly tax-advantaged distributions consisting primarily of returns of capital, in each case through exposure to the total return performance of the Moneda Deuda Latinoamericana Fondo de Inversion, a U.S.$856 million (as at June 30, 2011) Chilean listed investment fund established in 2000 which is actively managed by Moneda S.A. Administradora de Fondos de Inversion (the "Portfolio Manager").  Moneda Asset Management S.A., the parent company of the Portfolio Manager, was established in 1993 and is a leading independent asset manager headquartered in Santiago, Chile.

The Fund intends to make quarterly cash distributions to Unitholders initially estimated to be Cdn.$0.1875 per Class A Unit and U.S.$0.1875 per Class U Unit (Cdn.$0.75 and U.S.$0.75 per annum, respectively) representing an annual yield of 7.50% on the issue price. It is expected that the quarterly distributions received by Unitholders will be characterized primarily as returns of capital and capital gains for tax purposes. The initial cash distribution is anticipated to be payable on April 15, 2012, to Unitholders of record on March 30, 2012.

Scotia Capital Inc. was the sole agent in connection with the Offering.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect 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 and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Scotia Managed Companies Administration Inc. undertakes no obligation to update publicly or otherwise revise any forward looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There is no assurance that the Fund will be able to achieve its distribution and capital preservation objectives or that the full amount of a unitholders investment in the Fund will be returned. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. The press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

SOURCE Moneda LatAm Corporate Bond Fund

For further information:

Investor Relations
Moneda LatAm Corporate Bond Fund
Tel: (416) 945-4262
Web site:


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