TORONTO, Feb. 11, 2014 /CNW/ - Bloom Investment Counsel, Inc. ("Bloom") commented today on Orange Capital LLC's recent announcement aimed at enhancing unitholder value of InnVest REIT (TSX: INN.UN) and generally supports Orange Capital's ("Orange") plans. While there is no assurance as to the outcome of any discussions between Orange Capital and InnVest REIT, should Orange's current proposal become a final plan Bloom would be supportive of Orange Capital's proposals as laid out on February 4, 2014. Strong corporate governance has always been an important investment consideration for Bloom. Bloom will act in what it believes is the best interest of its clients and vote accordingly should a unitholder vote be requisitioned.
Bloom on behalf of its clients holds approximately 4% of the issued and outstanding trust units of InnVest REIT.
Bloom holds the units of InnVest for investment purposes. Depending on market and other conditions, Bloom may determine, from time to time, to increase or decrease their respective ownership, or control and direction over, securities of InnVest.
About Bloom Investment Counsel, Inc.
Bloom Investment Counsel, Inc. was established in 1985 and specializes in the management of segregated investment portfolios for wealthy individuals, corporations, institutions and trusts. In addition to its conventional investment management business Bloom currently manages specialty high-income equity portfolios comprised of dividend paying common equity securities, income trusts and real estate investment trusts. Bloom is also the Investment Manager of 5 TSX listed Closed End Funds.
SOURCE: Bloom Investment Counsel Inc.
For further information:
Bloom Investment Counsel, Inc., 416-861-9941