TORONTO, May 3, 2012 /CNW/ - The Northwater Market-Neutral Trust (the "Trust") announced that the projected net asset value of the Trust per unit as at April 30, 2012 is $0.21. The return of the Trust for the month of April is estimated at -0.64%. The rolling 12-month return for the Trust is approximately -31.41%.
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 April 30, 2012, all but three of the secondary market sales were closed. Of the three sales transactions that remain outstanding as at April 30, 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.
The final net asset value per unit and the final return of the Trust for April 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.