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TORONTO, Aug. 29, 2012 /CNW/ - Marret Multi-Strategy Income Fund (TSX:MMF.UN) (the "Fund") is a closed-end trust that was created to provide investors with attractive, risk adjusted returns and tax advantaged distributions through exposure to actively managed investment portfolios consisting primarily of income generating securities held by Marret MSIF Trust (the "Trust"). The Fund obtains exposure to the underlying portfolios of the Trust through a forward agreement.
Today, the Fund's manager, Marret Asset Management Inc. (the "Manager"), announced that it has received notice from East Coast Fund Management Inc. of its resignation as a portfolio manager of the Trust effective October 15, 2012. The Manager expects to announce the reallocation of the approximately 5% of the Trust's assets currently managed by East Coast.
About Marret Asset Management Inc.
Marret Asset Management Inc. is an employee-owned firm based in Toronto and has approximately $6 billion of assets under management. 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.
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of Marret and the managers of the underlying portfolios regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Marret believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Marret can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors" in the prospectus. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Marret undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws.
SOURCE: Marret Multi-Strategy Income Fund
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