April 19, 2013
North American Preferred Share Fund (formerly North American Preferred Share Advantaged Fund) (the "Fund") announced today that it has filed a final prospectus dated
April 19, 2013
with the securities regulatory authorities of all the Canadian provinces and territories for an initial public offering of transferable trust units (the "Units") of the Fund at
The Fund's investment objectives are to provide unitholders with stable monthly cash distributions and preservation of capital. The Fund has been created to invest in an actively managed portfolio consisting principally of Canadian and U.S. preferred shares. The Fund's distributions are initially targeted to be 5.5% per annum on the subscription price of
per Unit per month or
Propel Capital Corporation ("Propel") is the manager and promoter of the Fund. Propel has retained Fiera Capital Corporation to provide portfolio management services to the Fund. Fiera is one of the largest independent money managers in
in assets under management as at
December 31, 2012
, including approximately
in preferred securities.
The syndicate of agents for this offering is being led by CIBC, National Bank Financial Inc., and RBC Capital Markets, and includes BMO Capital Markets, GMP Securities L.P., Scotiabank, TD Securities Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Corporation, and Manulife Securities Inc.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from one of the above-noted agents. Investors should read the prospectus before making an investment decision.
SOURCE North American Preferred Share Fund