|By Marketwired .||
|February 27, 2014 03:36 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/27/14 -- Brompton Funds Limited (the "Manager") is pleased to announce the completion of the tax-deferred transfer of assets of Brompton 2012 Flow-Through Limited Partnership (the "Partnership"). The Partnership has transferred all of its assets to Brompton Resource Fund ("BRF"), a class of Brompton Mutual Funds Limited in exchange for Series B Shares of BRF. The Partnership will be dissolved on or about March 14, 2014.
Series B Shares of BRF were issued at a net asset value per share of $1.4439. The final net asset value per unit of the Partnership was $19.0390, which represents an after-tax return of 18.6% over the life of the Partnership(1). Partnership units were converted at a rate of 13.185816 Series B Shares of BRF for each Partnership unit. The Series B Shares will offer daily liquidity through FundServ as soon as possible once investment advisors have reconciled positions with FundServ, under fund code CAM 151.
BRF provides Canadian investors with exposure to a broad array of investments in the natural resource sectors. The Fund's investment objective is to provide the potential for long-term growth of capital and to a lesser extent, the production of income. BRF offers daily subscriptions and redemptions and investors also have the opportunity to switch tax-free into the Brompton Dividend & Income Fund ("BDIF"), should investors wish to reduce their exposure to the resource sector. BDIF produced a total return in 2013 of 21.5%, representing an 8.5% outperformance of the S&P/TSX Composite Total Return Index. The Portfolio Managers of both BRF and BDIF are Laura Lau and Mike Clare, who are also the Portfolio Managers for the Brompton Flow-Through Limited Partnerships. The lead portfolio manager is Laura Lau, an award winning portfolio manager with over 20 years of experience.(2)
BRF will not charge a fee or commission when the Series B shares are issued under the mutual fund rollover transaction and will not charge redemption fees.
BRF will not issue certificates for Series B Shares. BRF is a fund class of Brompton Mutual Funds Limited which is a mutual fund corporation incorporated under the laws of Canada. BRF securities are sold under a continuous offering prospectus and BRF is a reporting issuer for securities law purposes in all provinces of Canada. The prospectus contains important information about BRF, including investment strategy, fees and risks. Brompton encourages all investors to read the prospectus for all other terms and conditions of BRF.
About Brompton Funds
Brompton Funds, a division of Brompton Group, is an experienced investment fund manager operating since 2002. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms and supported by strong corporate governance. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000, toll-free at 1-866-642-6001, email [email protected] or visit our website at www.bromptongroup.com.
(1) Return is unaudited and assumes: (i) $25.00 per unit is deducted by investors; (ii) highest marginal tax rate in Ontario; (iii) each unit has an adjusted cost base of nil; and (iv) disposition at February 26, 2014 net asset value per unit.
(2) To view a press release of the award visit www.bromptongroup.com.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read BRF's or BDIF's prospectus before investing which is available from SEDAR at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Partnership, BRF and BDIF, to the future outlook of the Partnership, BRF, and BDIF and anticipated events or results and may include statements regarding the future financial performance of the Partnership, BRF and BDIF. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.