MONTREAL, Dec. 5, 2012 /CNW Telbec/ - O'Leary Funds Management LP, the manager and trustee (the "Manager") of O'Leary Canadian Income Opportunities Fund (TSX: OCH.un) (the "Opportunities Fund") and O'Leary Canadian High Income Fund (the "High Income Fund") announces details about the merger of the Opportunities Fund and the High Income Fund on or about December 14, 2012 (the "Merger"), subject to regulatory approval.
- the Opportunities Fund will terminate and the High Income Fund will continue;
- the trust units of the Opportunities Fund will be exchanged for series Y units of the High Income Fund;
- the trust units of the Opportunities Fund will be delisted from the Toronto Stock Exchange at the close of business on December 14, 2012;
- the trust units of the Opportunities Fund will become redeemable at their net asset value per trust unit on a daily basis;
- the prospectus relating to the Opportunities Fund's establishes that following December 14, 2012, the management fees, including the trailer fees, for the Opportunities Fund would change to 1.95%. As a result, the management fees for series Y units of the High Income Fund are set at 1.95%.
Important information for non-residents: unitholder accounts which are deemed to be non-resident of a Canadian province are not allowed to hold units of the High Income Fund and, accordingly, will be redeemed.
O'Leary Funds Management LP is a Canadian investment fund manager of mutual funds and closed-end funds striving to provide Canadian investors with reliable and strategic income solutions. Based on our value-yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. Our core principles, Income, Capital Appreciation and Capital Preservation, are driven by each portfolios investment objectives. Our portfolios are diversified by sector, region and asset class. For more details about O'Leary Funds, visit www.olearyfunds.com.
SOURCE: O'Leary Canadian High Income Fund
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for media inquiries or additional information, please contact Louise Anne Poirier, Investor Relations at [email protected] or at 877-849-2004 or 514-849-1056.