East Coast Investment Grade Income Fund Announces Annual Redemption
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 19, 2014 /CNW/ - Arrow Capital Management Inc. ("Arrow") announces today that 1,116,355 units of East Coast Investment Grade Income Fund (TSX: ECF.UN) (the "Fund"), representing 11% of the outstanding units of the Fund, were submitted for redemption and cancelled on the annual redemption date of October 31, 2014. Accordingly a total of 9,185,830 units remain outstanding.
Unitholders who tendered units for redemption will be entitled to receive $10.51 per unit, the net asset value per unit on the annual redemption date. Redeeming unithholders were entitled to receive the previously announced monthly distribution for October of $0.05 per unit. The distribution payment was made on November 14, 2014.
About Arrow Capital Management Inc.
Arrow Capital Management Inc. is an employee-owned company, founded in 1999. Arrow's expertise in active portfolio management and manager selection is evident in its strong, diverse platform, which provides clients with access to a global selection of actively managed investment funds. Arrow is committed to continuously providing investors with access to a wide range of investment solutions. With over 15 years of service, Arrow has been well respected as a Canadian alternative investment company. In December of 2013, Arrow acquired BluMont Capital Corporation adding the Exemplar range of prospectus-based solutions to its platform, expanding its range of products and catering to a wider client base.
SOURCE: Arrow Capital Management Inc.
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For further information on the Fund: Telephone: (416) 323-0477, Toll Free: 1 (877) 327-6048, Email: [email protected]
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