|By PR Newswire||
|January 13, 2013 08:47 PM EST||
TORONTO, Jan. 13, 2013 /CNW/ - Covington Capital Corporation ("Covington") and the Board of Directors for Covington Fund II Inc. (the "Fund") today announced that effective December 28, 2012 the Fund would no longer offer Class A shares for sale to investors. The Fund will remain open to redemptions.
The Manager and Board of Directors believe that this is the best course of action given the overall maturity of the Fund, and the current focus on managing the existing portfolio to build value within the venture holdings while seeking exit opportunities to provide investors with a return of capital.
About Covington Capital Corporation
Founded in 1995, Covington Capital Corporation (www.covingtonfunds.com) is one of Canada's largest and most experienced venture capital fund providers. Managing approximately $300 million in venture capital assets on behalf of institutional and retail investors, Covington invests in small-and-medium businesses throughout many industry sectors. Covington Capital Corporation is headquartered in Toronto, Ontario.
SOURCE Covington Group of Funds