TORONTO, Jan. 10, 2012 /CNW/ - Man Investments Canada Corp. ("Man Canada") is pleased to announce that the Man GLG Emerging Markets Income Fund (the "Fund") has issued an additional 579,000 Class A Units for gross proceeds of $5,790,000 pursuant to the exercise by the syndicate of agents (the "Agents") of their over-allotment option. In total, the Fund has issued 10,628,921 Class A Units and 1,950,079 Class F Units in its initial public offering for aggregate gross proceeds of $125,790,000. The Class A Units are listed for trading on the Toronto Stock Exchange under the symbol EMY.UN. The Class F Units are not listed on any stock exchange.
The Fund's investment objectives are: i) to provide holders of units (the "Unitholders") with monthly tax-advantaged distributions; and ii) to preserve capital while providing the opportunity for long-term capital appreciation for Unitholders. The Fund does not have a fixed distribution amount, but the distributions are initially targeted to be 6% per annum on the subscription price of $10.00 per Unit ($0.05 per Unit per month or $0.60 per Unit per annum). The Fund was created to provide exposure to an actively managed, liquid and diversified portfolio of securities across various asset classes primarily within global emerging markets such as Latin America, Central and Eastern Europe, the Middle East, Africa and Asia (the "Portfolio"). The Portfolio is managed by GLG Partners LP. In managing the Portfolio, GLG Partners LP pursues its strategy through both active trading and investment principally in interest rate securities and instruments, sovereign and corporate credit instruments and other fixed income securities, foreign exchange instruments and derivatives that provide exposure to these asset classes.
The syndicate of Agents for this offering was led by CIBC and included RBC Capital Markets, BMO Capital Markets, Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Dundee Securities Ltd., HSBC Securities (Canada) Inc., Manulife Securities Incorporated, Raymond James Ltd., Rothenberg Capital Management Inc. and Desjardins Securities Inc.
Man is a world-leading alternative investment management business. It has expertise in a wide range of liquid investment styles including managed futures, equity, credit and convertibles, emerging markets, global macro and multi-manager, combined with powerful product structuring, distribution and client service capabilities. As of September 30, 2011, Man managed US$64.5 billon.
The original business was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange and is a member of the FTSE 100 Index with a market capitalization of approximately US$4.5 billion.
Man Group is a member of the Dow Jones Sustainability World Index and the FTSE4Good Index. Man also supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes. Further information can be found at www.mangroupplc.com.
GLG Partners Inc. ("GLG"), a wholly owned subsidiary of Man since October 14, 2010, was established in 1995. GLG is dedicated to achieving consistent, superior investment returns through traditional, alternative and hybrid investment strategies. The performance GLG generates is driven by the proven expertise of its team of investment professionals, underpinned by a rigorous approach to investment analysis and a strong focus on risk management.
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For further information:
CEO, Man Investments Canada Corp.