TORONTO, Jan. 11, 2012 /CNW/ - AlphaNorth 2010 Flow-Through Limited Partnership (the "Partnership") is pleased to announce that effective January 6, 2012, it has completed the transfer of all of the assets of the Partnership to AlphaNorth Rollover Fund (the "Rollover Fund"), a class of shares of AlphaNorth Mutual Funds Limited. The transfer was completed in exchange for series A shares of the Rollover Fund on a tax-deferred basis.
The final net asset value of the Partnership was $14.12 per unit. This translates into an estimated after-tax total return on money at risk of approximately 117% for an Ontario investor subject to the highest marginal tax rate. Each limited partner received one (1) Rollover Fund share for each Partnership unit held.
On or about July 6, 2012, all outstanding Rollover Fund Series A shares will be automatically converted on a tax-deferred basis into Series A shares of AlphaNorth Growth Fund (the "Growth Fund").
The Growth Fund is an open-ended mutual fund. The objective of the Growth Fund is to generate industry leading long-term returns by providing investors with diversified exposure to primarily small and mid-capitalization Canadian companies that offer attractive risk-reward characteristics. These will typically be companies with market capitalizations between $100 million and $5 billion.
The Growth Fund employs a similar investment style and methodology to the AlphaNorth Partners Fund. AlphaNorth Asset Management (the "Manager") believes that superior long-term equity returns are achievable by exploiting inefficiencies in the Canadian small cap universe through the careful selection of securities. The Manager combines technical analysis with bottom-up and top-down strategy in the selection of investments offering the best reward versus risk opportunities. Investors may redeem the Rollover Fund shares under fund code ANF020 or the Growth Fund shares under ANF010 on any business day by contacting their dealers. Tax liabilities incurred through capital gains may be deferred by remaining invested in the Rollover Fund or Growth Fund.
The Manager is a Toronto-based investment management firm with approximately $130 million in assets under management. It manages the AlphaNorth Partners Fund, the AlphaNorth Growth Fund, the AlphaNorth 2010 Flow-Through Limited Partnership and the AlphaNorth 2011 Flow-Through Limited Partnership.
The Manager is also pleased to announce that the AlphaNorth 2012 Flow-Through Limited Partnership is now available for investment. The price per unit is $10.00 with a minimum subscription of 250 units ($2,500). The Manager is seeking to raise a maximum of $25,000,000. Initial closing is expected to be in early February 2012.
For further information:
Skye Collyer, Vice President, Sales and Marketing at 416-506-0776 (ext. 227) or [email protected]