Marret Investment Grade Bond Fund Announces Exercise of Over-Allotment Option

TORONTO, Nov. 6 /CNW/ - Marret Asset Management Inc. is pleased to announce that the syndicate of agents for the initial public offering of Marret Investment Grade Bond Fund (TSX:MIG.UN) has exercised its over-allotment option and acquired an additional 1,450,000 units. In total, Marret Investment Grade Bond Fund issued 28,150,000 units at a price of $12.00 per unit for gross proceeds of $337,800,000. The units are listed on the Toronto Stock Exchange under the symbol MIG.UN.

Attractive Opportunity in North American Investment Grade Bond Market

The Fund will give Unitholders exposure to an actively managed portfolio of approximately 20 highly liquid, North American, investment grade bonds. The portfolio will be actively managed by Marret Asset Management Inc. With over $3.8 billion in assets under management, Marret is Canada's largest independent specialist credit manager. Barry Allan and Paul Sandhu will select portfolio securities based on the following four core tenets: (1) capital preservation; (2) high quality credit investments; (3) liquidity; and (4) full currency hedging.

Investment Objectives

The Fund will seek to achieve the following investment objectives: (i) to provide unitholders with attractive monthly tax advantaged cash distributions, initially targeted to be 5% per annum on the original issue price of $12.00 per Unit; and (ii) to maximize total returns for unitholders, consisting primarily of tax-advantaged distributions, while reducing risk and preserving capital.

Marret Asset Management Inc.

Marret Asset Management Inc. is an employee-owned firm based in Toronto that manages or subadvises approximately $3.8 billion in Investment Grade Bond and high yield debt assets. Marret and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income investments. Barry Allan, the President and Chief Investment Officer, founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank. Mr. Allan has over 25 years of experience in credit and fixed income markets. Paul Sandhu, who focuses exclusively on investment grade bonds for Marret, has over 28 years of experience in both domestic and international fixed income markets. The syndicate of agents for the offering is being led by RBC Capital Markets and includes CIBC, TD Securities Inc., GMP Securities L.P., BMO Capital Markets, Dundee Securities Corporation, National Bank Financial Inc., Scotia Capital Inc., Blackmont Capital Inc., Canaccord Adams, HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Laurentian Bank Securities Inc. and Manulife Securities Incorporated.

SOURCE Marret Asset Management Inc.

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Marret Asset Management Inc.

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