TORONTO, Jan. 16, 2012 /CNW/ - The Northwater Market-Neutral Trust (the "Trust") announced today that it has declared a termination distribution to be payable to unitholders of record on January 23, 2012 in the amount of $0.53 per unit. This termination distribution is expected to be paid on January 30, 2012.
As previously announced, the Trust has entered into binding agreements to sell the remaining illiquid hedge funds held by the Trust in the secondary market. This termination distribution is the result of sales proceeds the Trust has received to date. As previously announced, the closing of the sales is subject to a number of conditions including the consent of managers of the relevant underlying funds. Northwater Fund Management Inc. (the "Manager"), in its capacity as manager of the Trust, continues to expect that the remaining sale transactions will close by not later than March 31, 2012. Additional termination distributions of the net proceeds from such sales will be distributed to investors as soon as reasonably practicable after such closings occur.
For further information:
Dan Mills at Northwater Capital Management Inc. at (416) 360-2101.