TORONTO, April 13, 2012 /CNW/ - Connor, Clark & Lunn Capital Markets Inc. is pleased to announce that the Connor, Clark & Lunn 2010 Flow-Through Limited Partnership (the "Partnership") has completed a mutual fund rollover transaction pursuant to which the net assets of the Partnership were transferred on a tax-deferred basis to the Connor, Clark & Lunn Natural Resources Class (the "Resources Class") of Connor, Clark & Lunn Capital Class Inc., an open-ended mutual fund corporation, in exchange for shares of the Resources Class. Shares of the Resources Class will be distributed to limited partners ("Partners") of the Partnership on a pro rata basis and thereafter the Partnership will be dissolved.
Each Partner will receive approximately 1.361414 shares of the Resources Class for each Partnership unit held. This ratio is equivalent to the Net Asset Value of the units of the Partnership ($13.7462) divided by the Net Asset Value of the shares of the Resources Class ($10.0970) determined at the close of business on April 12, 2012.
The Resources Class seeks to generate long term growth by providing investors with exposure to Canadian natural resources companies. Partners may defer incurring the capital gains tax liability that arises upon redemption of shares of the Resources Class by maintaining their investment. Investors in the Resources Class can also transfer their investment into the Connor, Clark & Lunn Balanced Portfolio Class (the "Balanced Portfolio Class") on a non-taxable basis. The Balanced Portfolio Class is broadly diversified across different types of equity and fixed income securities and seeks to generate modest growth of capital while utilizing fixed income investments to stabilize returns. The FundSERV codes for the Resources Class and Balanced Portfolio Class are CCL100 and CCL200, respectively.
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