TORONTO, April 23, 2012 /CNW/ - The Northwater Market-Neutral Trust (the "Trust") announced today that the final net asset value of the Trust per unit as at March 31, 2012 is $0.21. The return of the Trust for the month of March 2012 is 0.48%. The rolling 12-month return for the Trust is -33.81%.
Northwater Fund Management Inc. (the "Manager"), in its capacity as manager of the Trust, continues to work toward the completion of all the secondary market sale transactions in respect of the remaining underlying assets of the Trust. As at March 31, 2012, all but three of the secondary market sales were closed. Of the three sales transactions that remain outstanding as at March 31, 2012, the Manager awaits final verification of the transfer of ownership from the underlying fund managers and administrators. The Manager does not anticipate material delays in closing the three remaining sales transactions. A final termination distribution of the net proceeds from such sales will be distributed to investors as soon as reasonably practicable after such closings occur and the Trust will be wound up in accordance with its terms.
For further information:
Dan Mills at Northwater Capital Management Inc. at (416) 360-2101