MONTREAL, Jan. 11, 2016 /CNW Telbec/ - O'Leary Funds Management LP (the "Manager"), the manager of certain investment funds ("O'Leary Funds"), today announced the refiling of the restated interim management report of fund performance of O'Leary U.S. Strategic Yield Advantaged Fund ("OUY") and Floating Rate Income Fund ("OFR") for the six months ended June 30, 2015 (the "MRFPs").
The MRFPs have been revised to restate the management expense ratio ("MER") as well as restate the trading expense ratio ("TER") of each of OUY and OFR to take into account the fees and expenses of the relevant reference fund. OUY and OFR each use a forward contract to gain exposure to their respective reference fund's performance. OUY's reference fund is O'Leary U.S. Portfolio Trust and OFR's reference fund is O'Leary Floating Rate Portfolio Trust. The MER and TER of each of OUY and OFR, as previously disclosed in the MRFPs, did not include the fees and expenses of their respective reference fund as required by section 15.2 (Fund of Fund Calculation) of Regulation 81-106 respecting Investment Fund Continuous Disclosure. Nevertheless, the management fees of each reference fund were always disclosed in the "Management Fees" section contained in the MRFP of each of OUY and OFR, respectively, as well as in their respective annual information form and financial statements.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to the future outlook of the O'Leary Funds and anticipated distributions, events or results and may include statements regarding the future financial performance of the O'Leary Funds. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.
About O'Leary Funds Management LP
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 its value-yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. Its core principles, Income, Capital Appreciation and Capital Preservation, are driven by each portfolios investment objectives. Its 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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