Global Convertibles Short Duration Fund files Preliminary Prospectus

TORONTO, Jan. 29, 2014 /CNW/ - Global Convertibles Short Duration Fund (the "Fund") announces that it has filed a preliminary prospectus dated January 29, 2014 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering of transferable trust Class A units of the Fund (the "Units") at $10.00 per Unit.

The Fund's investment objectives are to provide holders of Units with monthly cash distributions and the opportunity for long-term capital appreciation. The Fund has been created to invest in an actively managed portfolio consisting primarily of convertible securities and other fixed income and equity securities of global issuers (the "Portfolio "). The Fund will seek to reduce the risk of rising interest rates by maintaining a weighted average Portfolio duration of below three years. The Fund's distributions are initially targeted to be 6.0% per annum on the subscription price of $10.00 ($0.05 per Unit per month or $0.60 per Unit per annum).

Propel Capital Corporation ("Propel") is the manager and promoter of the Fund. The Fund has retained Credit Suisse AG ("Credit Suisse") to provide portfolio management services to the Fund. Credit Suisse has approximately U.S. $410 billion in assets under management as of September 30, 2013.

The syndicate of agents for this offering is being led by CIBC and RBC Capital Markets and includes National Bank Financial Inc., Scotiabank, TD Securities Inc., BMO Capital Markets, GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd. and Manulife Securities Incorporated.

A preliminary prospectus containing important information relating to these Units has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the agents noted above. There will not be any sale or any acceptance of an offer to buy the units until a receipt for the final prospectus has been issued.

SOURCE: Propel Capital Corporation

For further information, please call Raj Lala, President, Propel Capital at 416-572-2364 or visit www.propelcapital.ca