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TORONTO, May 11, 2017 /CNW/ - (TSX: ECF.UN) Arrow Capital Management Inc. ("Arrow"), on behalf of the East Coast Investment Grade Income Fund (the "Fund"), today announced that the Fund has completed its additional offering (the "Offering") of units for gross proceeds of approximately $15.4 million. The units were issued at a price of $9.80.
The syndicate of agents for the Offering was led by RBC Dominion Securities Inc. and CIBC World Markets Inc., and included GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Canaccord Genuity Corp., Industrial Alliance Securities Inc. and Manulife Securities Inc.
About the Fund
The Fund's investment objectives are to: (i) maximize total returns to unitholders while reducing risk; and (ii) provide unitholders with attractive monthly distributions.
The Fund seeks to achieve these investment objectives by holding a portfolio comprised primarily of investment grade debt securities (both long and short positions) of Canadian corporate and government issuers that are rated BBB- or higher by Standard & Poor's, or a similar rating from a qualified rating agency.
Arrow is the trustee, manager and promoter of the Fund. East Coast Fund Management Inc. ("East Coast") is the portfolio advisor and actively manages the Fund.
About Arrow Capital Management Inc.
Arrow is an employee-owned company, founded in 1999. Arrow's expertise in active portfolio management and manager selection is evident in its strong, diverse platform, which provides clients with access to a global selection of actively managed investment funds. Arrow is committed to providing investors with access to a wide range of investment solutions. With over 15 years of service, Arrow is well respected as a Canadian alternative investment company.
About East Coast Fund Management Inc.
East Coast was founded in 2009 with the aim of providing high net worth individuals the ability to maximize risk-adjusted returns of investment grade credit while removing exposure to interest rates. The portfolio management team at East Coast has a combined 100 years of financial services experience. East Coast has been a sub-advisor to Arrow since 2010.
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
SOURCE Arrow Capital Management Inc.
For further information: Arrow Capital Management Inc., please visit www.arrow-capital.com or contact us at (416) 323-0477 / (877) 327-6048 or contact your financial advisor.