TORONTO, May 4 /CNW/ - Marret Asset Management Inc., as manager,
announces the filing of a preliminary prospectus for Marret High Yield
Strategies Fund with the securities regulatory authorities of all of the
Canadian provinces. The Fund is offering Class A units only at a price of
$10.00 per unit.
Recent market events highlight the need for investment strategies focused
on preserving capital in market downturns and participating fully in rising
markets. The Fund will obtain exposure to a portfolio focused primarily on
high yield debt securities. The portfolio will be held by Marret HYS Trust,
and will be actively managed by Marret Asset Management Inc. using specialized
high yield debt strategies designed to maximize risk-adjusted returns and
preserve capital in each phase of the credit cycle.
The Fund will seek to achieve the following investment objectives:
(i) to maximize total returns for unitholders consisting of both tax-
advantaged distributions and capital appreciation, while reducing
(ii) to provide unitholders with attractive monthly tax-advantaged cash
distributions, initially targeted to be 8.00% per annum on the
original issue price of $10.00 per Unit.
Marret Asset Management Inc. is an employee-owned firm based in Toronto
and advises on over $2 billion of high yield corporate debt assets. 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 25 years of experience in credit and fixed income
The syndicate of agents for the offering is being co-led by RBC Dominion
Securities Inc. and GMP Securities L.P. and includes CIBC World Markets Inc.,
Scotia Capital Inc., Dundee Securities Corporation, Canaccord Capital
Corporation, Raymond James Ltd., Blackmont Capital Inc., Desjardins Securities
Inc., HSBC Securities (Canada) Inc., Manulife Securities Incorporated,
Wellington West Capital Markets Inc. and Research Capital Corporation.
For further information:
For further information: Marret Asset Management Inc. at (416) 214-5800