TORONTO, Dec. 18 /CNW/ - The Northwater Five-Year Market-Neutral Trust
announced today that it has declared a regular quarterly distribution to be
payable to unitholders of record on December 31, 2007. The amount of the
distribution is $0.4375. This distribution is expected to be paid on
January 15, 2007.
In addition the Trust is required to distribute all of its net income and
realized capital gains, so that the Trust will not be liable to pay income tax
under Part I of the Income Tax Act. The Trust cannot, therefore, finalize the
amount of the distribution declared until all of its net income and realized
capital gains for 2007 have been ascertained. It is not currently anticipated
that any such additional special distribution will be required for 2007.
However, if such a special distribution is required to be made after the
Trust's net income and realized capital gains for 2007 have been ascertained,
the special distribution is expected to be paid on January 29, 2008 to
unitholders of record on December 31, 2007.
The final character of the distribution for tax purposes and the amount
will be determined in accordance with the agreement establishing the Trust and
in accordance with the Income Tax Act (Canada). The Trust will finalize the
amount of the distribution after its results have been determined for the year
ending December 31, 2007.
The Northwater Five-Year Market-Neutral Trust is a well-diversified fund
of market-neutral hedge funds and a fixed Canadian interest rate exposure.
Units are listed on The Toronto Stock Exchange under the symbol NYF.UN.
For further information:
For further information: Mohamed Khaki or Stephen Foote at Northwater
Capital Management Inc. at (416) 360-5435