MONTREAL, Oct. 11, 2012 /CNW Telbec/ - O'Leary Funds Management LP, the manager and trustee (the "Manager") of O'Leary Hard Asset Income Fund (TSX: OHA.un) (the "Hard Asset Fund") and O'Leary Global Infrastructure Yield Fund (the "Infrastructure Fund") announces details about the merger of the Hard Asset Fund and the Infrastructure Fund (the "Merger"), subject to the approval of the unitholders at a special meeting on October 31, 2012.
- the Hard Asset Fund will terminate and the Infrastructure Fund will continue;
- the trust units of the Hard Asset Fund will be exchanged for series Y units of the Infrastructure Fund;
- the trust units of the Hard Asset Fund will be delisted from the Toronto Stock Exchange at the close of business on October 31, 2012
- Unitholders of record of the Hard Asset Fund on October 31, 2012 will receive a monthly distribution of $0.065 per trust unit. This represents the final distribution as a closed-end fund and is expected to be paid before November 15, 2012.
- the trust units of the Hard Asset Fund will become redeemable at their net asset value per trust unit on a daily basis;
- the management fees for the Hard Asset Fund will remain the same for the series Y units of the Infrastructure Fund.
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 Equity or Opportunities 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 unique income solutions. Focused 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 Funds Management LP
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