IA Clarington Aston Hill Tactical Yield Fund files Preliminary Prospectus
TORONTO, March 4 /CNW/ - IA Clarington Investments Inc. (the "Manager") is pleased to announce that it has filed a preliminary prospectus dated March 3, 2010 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering of units (the "Units") for IA Clarington Aston Hill Tactical Yield Fund.
The Fund will be actively managed by Catapult Financial Management Inc. ("Catapult"), and Ben Cheng will be the lead portfolio manager responsible for the Fund.
The Fund's investment strategy is to invest primarily in:
(i) Canadian common and preferred equity securities and income trust
units that provide a consistent and stable source of current
income; and
(ii) fixed income securities, including high yield corporate debt
securities, cash and cash equivalents.
Each of the equity portion and the fixed income portion generally will represent between one-third and two-thirds of the portfolio, with the allocation at any time being determined by Catapult based on its view of market opportunities at the time of investment.
The Fund's investment objectives are:
(i) to provide unitholders with monthly cash distributions, initially
targeted to be 6.0% per Trust Unit per annum on the original
offering price of $10.00 per Unit ($0.05 per Trust Unit per month
or $0.60 per Trust Unit per annum); and
(ii) to maximize total returns for unitholders, consisting of both cash
distributions and capital appreciation, while reducing risk and
preserving capital.
The Fund's prospectus qualifies the issuance of units of the Fund at a price of $10.00 per Unit. Each Unit consists of one transferable trust unit (a "Trust Unit") and one Trust Unit purchase warrant (a "Warrant"). The Units will separate into Trust Units and Warrants upon the earlier of the closing of the Over-Allotment Option and the 30th day following the closing of the Offering. Each Warrant entitles the holder to purchase one Trust Unit at the subscription price of $10.00 per Trust Unit on or before 5:00 p.m. (Toronto time) on April 29, 2011. Warrants not exercised by that date will be void and of no value.
On or before April 30, 2012, the Fund will automatically either:
(i) convert to an open-ended mutual fund, or
(ii) merge with an open-ended mutual fund on a tax-deferred basis, to be
managed by the Manager or an affiliate of the Manager.
Prospective purchasers may purchase Units either by cash payment or an exchange of freely-tradable securities of each class or series of securities described in the table below. Prospective purchasers under the exchange option will be required to deposit their eligible exchange securities prior to 5:00 p.m. (Toronto time) on March 26, 2010 in the manner described in the preliminary prospectus.
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Ticker
Exchange Eligible Securities CUSIP ISIN Symbol
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Aecon Group Inc. 00762V109 CA00762V1094 ARE
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AGF Management Limited 001092105 CA0010921058 AGF.B
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Agnico-Eagle Mines Ltd. 008474108 CA008474 1085 AEM
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Agrium Inc. 008916108 CA0089161081 AGU
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Alimentatin Couche-Tard Inc. 01626P403 CA01626P4033 ATD.B
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AltaGas Income Trust 021360102 CA0213601028 ALA.UN
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ARC Energy Trust 001986108 CA0019861081 AET.UN
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Astral Media Inc. 046346201 CA0463462014 ACM.A
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Atco Ltd. 046789400 CA0467894006 ACO.X
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Bank of Montreal 063671101 CA0636711016 BMO
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Bank of Nova Scotia (The) 064149107 CA0641491075 BNS
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Barrick Gold Corporation 067901108 CA067901 1084 ABX
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Baytex Energy Trust 073176109 CA073 1761098 BTE.UN
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BCE Inc. 05534B760 CA05534B7604 BCE
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Bell Aliant Regional Communications
Income Fund 07786J103 CA07786J1030 BA.UN
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Biovail Corporation 09067J109 CA09067J1093 BVF
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Boardwalk Real Estate Investment Trust 096631106 CA0966311064 BEI.UN
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Bombardier Inc. 097751200 CA09775 12007 BBD.B
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Bonavista Energy Trust 098536105 CA098536 1058 BNP.UN
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Brookfield Asset Management Inc. 112585104 CA1 125851040 BAM.A
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Brookfield Properties Corporation 112900105 CA1 129001055 BPO
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CAE Inc. 124765108 CA1247651088 CAE
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Calloway Real Estate Investment Trust 131253205 CA13 12532056 CWT.UN
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Cameco Corporation 13321L108 CA13321L1085 CCO
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Canadian Apartment Properties Real
Estate Investment Trust 134921105 CA134921 1054 CAR.UN
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Canadian Imperial Bank of Commerce 136069101 CA1360691010 CM
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Canadian Real Estate Investment Trust 13650J104 CA13650J1049 REF.UN
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Canadian National Railway Company 136375102 CA1363751027 CNR
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Canadian Natural Resources Limited 136385101 CA1363851017 CNQ
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Canadian Oil Sands Trust 13642L100 CA13642L1004 COS.UN
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Canadian Pacific Railway Limited 13645T100 CA13645T1003 CP
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Canadian Tire Corporation, Limited 136681202 CA13668 12024 CTC
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Canadian Utilities Limited 136717832 CA1367178326 CU
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Canadian Western Bank 13677F101 CA13677F1018 CWB
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CCL Industries Inc. 124900309 CA1249003098 CCL.B
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Chartwell Seniors Housing Real Estate
Investment Trust 16140U100 CA16140U1003 CSH.UN
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CI Financial Corp. 125491100 CA125491 1003 CIX
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Cineplex Galaxy Income Fund 172453102 CA172453 1027 CGX.UN
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CML Healthcare Income Fund 12582P105 CA12582P1053 CLC.UN
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Cogeco Cable Inc. 19238V105 CA19238V1058 CCA
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Cominar Real Estate Investment Trust 199910100 CA1999101001 CUF.UN
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Consumers' Waterheater Income Fund 210724100 CA2107241002 CWI.UN
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Corus Entertainment Inc. 220874101 CA2208741017 CJR.B
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Crescent Point Energy Corp. 22576C101 CA22576C1014 CPG
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Davis + Henderson Income Fund 239058100 CA239058 1007 DHF.UN
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Daylight Resources Trust 239600109 CA2396001091 DAY.UN
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Dorel Industries Inc. 25822C205 CA25822C2058 DII.B
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Emera Incorporated 290876101 CA2908761018 EMA
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Empire Company Ltd. 291843407 CA2918434077 EMP.A
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Enbridge Inc. 29250N 105 CA29250N 1050 ENB
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EnCana Corporation 292505104 CA2925051047 ECA
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Enerflex Systems Income Fund 29268J104 CA29268J1049 EFX.UN
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Enerplus Resources Fund 29274D604 CA29274D6046 ERF.UN
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Ensign Energy Services Inc. 293570107 CA2935701078 ESI
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Extendicare Real Estate Investment
Trust 302251103 CA302251 1032 EXE.DB.A
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Fairfax Financial Holdings Limited 303901102 CA303901 1026 FFH
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Finning International Inc. 318071404 CA3180714048 FTT
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First Quantum Minerals Ltd. 335934105 CA3359341052 FM
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Fort Chicago Energy Partners L.P. 346921109 CA346921 1096 FCE.UN
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Fortis Inc. 349553107 CA3495531079 FTS
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Forzani Group Ltd. (The) 349907105 CA349907 1056 FGL
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Franco-Nevada Corporation 351858105 CA3518581051 FNV
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Freehold Royalty Trust 355904103 CA3 55904 1031 FRU.UN
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Goldcorp Inc. 380956409 CA3 809564097 G
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Great-West Lifeco Inc. 39138C106 CA39138C1068 GWO
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Groupe Aeroplan Inc. 399453109 CA3 994531091 AER
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H & R Real Estate Investment Trust 404428203 CA4044282032 HR.UN
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Harvest Energy Trust 41752X101 CA41752X1015 HTE.UN
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Home Capital Group Inc. 436913107 CA436913 1079 HCG
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Husky Energy Inc. 448055103 CA4480551031 HSE
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Iamgold Corporation 450913108 CA4509131088 IMG
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IESI-BFC Ltd. 44951D108 CA44951D1087 BIN
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IGM Financial Inc. 449586106 CA4495861060 IGM
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Imperial Oil Limited 453038408 CA4530384086 IMO
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Inmet Mining Corporation 457983104 CA457983 1047 IMN
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InnVest Real Estate Investment Trust 45771T108 CA45771T1084 INN.UN
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Intact Financial Corporation 45823T106 CA45823T1066 IFC
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Inter Pipeline Fund 45833P102 CA45833P1027 IPL.UN
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Jazz Air Income Fund 47214X100 CA47214X1006 JAZ.UN
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Jean Coutu Group (PJC) Inc. (The) 47215Q104 CA47215Q 1046 PJC.A
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Just Energy Income Fund 48213T108 CA48213T1084 JE.UN
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Keyera Facilities Income Fund 493272108 CA493272 1083 KEY.UN
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Kinross Gold Corporation 496902404 CA4969024047 K
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Labrador Iron Ore Royalty Income Fund 504904103 CA504904 1034 LIF.UN
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Laurentian Bank of Canada 51925D106 CA51925D1069 LB
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Loblaw Companies Limited 539481101 CA5394811015 L
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Major Drilling Group International Inc. 560909103 CA560909 1031 MDI
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Manitoba Telecom Services Inc. 563486109 CA563486 1093 MBT
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Manulife Financial Corporation 56501R106 CA56501R1064 MFC
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Maple Leaf Foods Inc. 564905107 CA564905 1078 MFI
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Methanex Corporation 59151K108 CA59151K1084 MX
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Metro Inc. 59162N109 CA59162N1096 MRU.A
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Mullen Group Ltd. 625284104 CA625284 1045 MTL
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NAL Oil & Gas Trust 628949109 CA628949 1095 NAE.UN
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National Bank of Canada 633067103 CA6330671034 NA
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Nexen Inc. 65334H102 CA65334H1029 NXY
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Niko Resources Ltd. 653905109 CA6539051095 NKO
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North West Company Fund 662906106 CA6629061061 NWF.UN
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Northland Power Income Fund 666910104 CA6669101041 NPI.UN
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Onex Corporation 68272K103 CA68272K1030 OCX
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Paramount Energy Trust 699219101 CA6992191016 PMT.UN
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Pason Systems Inc. 702925108 CA7029251088 PSI
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Pembina Pipeline Income Fund 706329109 CA706329 1099 PIF.UN
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Pengrowth Energy Trust 706902509 CA7069025095 PGF.UN
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Penn West Energy Trust 707885109 CA707885 1093 PWT.UN
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Peyto Energy Trust 717045108 CA7170451081 PEY.UN
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Potash Corporation of Saskatchewan Inc. 73755L107 CA73755L1076 POT
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Power Corporation of Canada 739239101 CA7392391016 POW
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Power Financial Corporation 73927C 100 CA73927C 1005 PWF
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Primaris Retail Real Estate Investment
Trust 74157U109 CA74157U1093 PMZ.UN
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Provident Energy Trust 74386K104 CA74386K1049 PVE.UN
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Quebecor Inc. 748193208 CA748 1932084 QBR.B
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Reitmans (Canada) Limited 759404205 CA7594042052 RET
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RioCan Real Estate Investment Trust 766910103 CA7669101031 REI.UN
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Ritchie Bros. Auctioneers Incorporated 767744105 CA767744 1056 RBA
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Rogers Communications Inc. 775109200 CA775 1092007 RCI.B
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Royal Bank of Canada 780087102 CA7800871021 RY
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Russel Metals Inc. 781903604 CA78 19036046 RUS
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Saputo Inc. 802912105 CA8029121057 SAP
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Savanna Energy Services Corp. 804694107 CA804694 1073 SVY
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Shaw Communications Inc. 82028K200 CA82028K2002 SJR.B
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ShawCor Ltd. 820904209 CA8209042099 SCL.A
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Sherritt International Corporation 823901103 CA823901 1031 S
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Shoppers Drug Mart Corporation 82509W103 CA82509W1032 SC
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Silvercorp Metals Inc. 82835P103 CA82835P1036 SVM
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SNC - Lavalin Group Inc. 78460T105 CA78460T1057 SNC
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Sun Life Financial Inc. 866796105 CA866796 1053 SLF
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Suncor Energy Inc. 867224107 CA867224 1079 SU
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Superior Plus Corp. 86828P 103 CA86828P 1036 SPB
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Talisman Energy Inc. 87425E103 CA87425E1034 TLM
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TELUS Corporation 87971M103 CA87971M1032 T
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Thomson Reuters Corporation 884903105 CA8 849031056 TRI
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Tim Hortons Inc. 88706M103 US88706M1036 THI
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TMX Group Inc. 87261X108 CA87261X1087 X
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Toromont Industries Ltd. 891102105 CA891 1021050 TIH
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Toronto-Dominion Bank (The) 891160509 CA891 1605092 TD
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TransAlta Corporation 89346D 107 CA89346D 1078 TA
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TransCanada Corporation 89353D 107 CA89353D 1078 TRP
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Transcontinental Inc. 893578104 CA893578 1044 TCL.A
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TransForce Inc. 89366H103 CA89366H1038 TFI
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Trican Well Service Ltd. 895945103 CA895945 1037 TCW
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Trinidad Drilling Ltd. 896356102 CA8963561029 TDG
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Vermilion Energy Trust 923728109 CA923728 1097 VET.UN
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West Fraser Timber Co Ltd. 952845105 CA952845 1052 WFT
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Weston, George Limited 961148509 CA961 1485090 WN
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Westshore Terminals Income Fund 960911105 CA96091 11054 WTE
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Yamana Gold Inc. 98462Y100 CA98462Y1007 YRI
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Yellow Pages Income Fund 985569102 CA985569 1023 YLO.UN
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The syndicate of agents is co-led by CIBC World Markets Inc. and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Financial Ltd., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Industrial Alliance Securities Inc. and Rothenberg Capital Management Inc.
About IA Clarington Investments Inc.
IA Clarington Investments Inc., a subsidiary of Industrial Alliance Insurance and Financial Services Inc., markets a wide range of investment products, including mutual funds and segregated funds managed by leading portfolio advisors. IA Clarington managed more than $7.5 billion in assets as at January 31, 2010.
Catapult Financial Management Inc.
Catapult is a wholly-owned subsidiary of Aston Hill Financial Inc. ("Aston Hill"), which is listed on the TSX Venture Exchange under "AHF". As at January 31, 2010, Aston Hill had approximately $1.5 billion in assets under management.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from Lovena Doodahnand, CIBC World Markets Inc., at 416-594-7270 or [email protected]. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. IA Clarington is a trademark of IA Clarington Investments Inc. and the IA Clarington logo is a trademark of Industrial Alliance Insurance and Financial Services Inc.
For further information: Eric Frape, Senior Vice-President, Product and Business Development, IA Clarington Investments Inc., (416) 860-9880, Toll-Free 1-888-860-9888, Email: [email protected], www.iaclarington.com
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