Palos Management Inc. Announces Changes to Performance Fees of the Palos Equity Income Fund

MONTREAL, July 30, 2013 /CNW Telbec/ - Palos Management Inc. is pleased to announce changes to the calculation of the performance fees of the Palos Equity Income Fund (the "Fund") beginning next year.

From January 1, 2014, performance fees will be measured annually. The current quarterly measurement of the performance fees will be maintained until that date. This change is beneficial to investors as the Fund will need to generate superior performance over a longer period of time before any performance fees are earned. This change eliminates the chance that the Fund pays performance fees for superior performance in any particular quarter while the Fund's performance for the year might have resulted in less or no performance fees being earned.

Also beginning on January 1, 2014, performance fees will only be earned if the Fund has a positive cumulative total return. Prior to this change, performance fees were based strictly on relative performance of Fund to its benchmark which could result in the Fund paying performance fees even if the Fund's performance over a period was negative.

We believe that both of these changes are beneficial to investors as they will result in the same or lower performance fees to be paid by the Fund, the same or lower management expense ratio, and will further align the interests of investors in the Fund with those of Palos Management Inc.

About Palos Management Inc.
Founded in 2001, Palos Management is a boutique financial management firm that includes Palos Investment Funds and the Palos Merchant Fund. Our mission is to constantly earn our clients' trust by growing and sustaining their wealth through our creative and intelligent approach to financial management. Palos Management Inc. is headquartered in Montreal, Canada.

SOURCE: Palos Investment Funds

For further information:

Media Contact
Alexandra Kaneb
T+1.514.397.0188  |

Investor Contact
Charles Marleau
T+1.514.397.0188  |

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