Marret Investment Grade Bond Fund
TORONTO, Nov. 25, 2013 /CNW/ - Marret Asset Management Inc. ("Marret") announces today that 8,946,413 units of Marret Investment Grade Bond Fund (TSX: MIG.UN) (the "Fund"), have been submitted for redemption in advance of the annual redemption date of November 29, 2013, and that 18,081,181 units will remain outstanding. Unitholders who tendered units for redemption will be entitled to receive the redemption net asset value per unit of the Fund, (as defined in the prospectus for the Fund dated September 29, 2009), as at November 29, 2013, less any costs associated with the redemption, including commissions and other such costs, if any, related to the partial settlement of the forward agreement through which the Fund obtains exposure to the underlying portfolio held by IGB Trust (the "Underlying Portfolio") to fund such redemption. Redeeming unitholders will also be entitled to receive the previously announced monthly distribution for November of $0.05 per unit. Payment of redemption proceeds will be made on or about December 20, 2013.
About Marret Asset Management Inc.
Marret Asset Management Inc. is an employee-owned firm based in Toronto. Marret and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies. Barry Allan, the President and Chief Investment Officer, founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank. Mr. Allan has over 30 years of experience in credit and fixed income markets.
SOURCE: Marret Investment Grade Bond Fund
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