TORONTO, June 5, 2012 /CNW/ - The Northwater Market-Neutral Trust (the "Trust") announced that the projected net asset value of the Trust per unit as at May 31, 2012 is $0.21. The return of the Trust for the month of May is estimated at -0.13%. The rolling 12-month return for the Trust is approximately -32.74%.
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 May 31, 2012, all but one of the secondary market sales were closed. For the one transaction that remains outstanding as at May 31, 2012, the Manager awaits final verification of the transfer of ownership from the underlying fund manager and administrator. The Manager does not anticipate material delays in closing this remaining sales transaction. 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.
The final net asset value per unit and the final return of the Trust for May will be provided to investors once such information is available. It is possible that the final net asset value per unit and the final return of the Trust for the month may differ from the preliminary estimates provided herein.
For further information:
Dan Mills at Northwater Capital Management Inc. at (416) 360-2101.