Thu, Nov 26, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Arrow Capital Management closes purchase of BluMont Capital Corporation

Thursday, December 05, 2013
Opalesque Industry Update - Arrow Capital Management Inc. is pleased to announce that it has received all necessary approvals of applicable securities regulatory authorities and that on December 2, 2013 it completed the previously announced transaction in respect of its purchase of BluMont Capital Corporation from Integrated Asset Management Corp. (TSX:IAM).

BluMont is the manager of the Exemplar Global Agriculture Fund, the Exemplar Global Infrastructure Fund, the Exemplar Leaders Fund, the Exemplar Timber Fund, the Exemplar Yield Fund, the Exemplar Canadian Focus Portfolio and the Exemplar Diversified Portfolio (the “Exemplar Funds”). Arrow will continue to use the Exemplar Funds brand for our actively managed prospectus offered mutual funds.

Effective immediately, James McGovern, Chief Executive Officer of Arrow and Robert Maxwell, Chief Financial Officer of Arrow, will become the respective Chief Executive Officer and Chief Financial Officer of BluMont. Also, Mr. McGovern and Mr. Maxwell have been appointed as directors of BluMont, such that the board of directors of BluMont will be comprised of James McGovern, Robert Maxwell and Veronika Hirsch. The same individuals also are now the officers and directors of the Exemplar Portfolios Ltd., which includes the Exemplar Canadian Focus Portfolio class of shares and the Exemplar Diversified Portfolio class of shares.

Both BluMont and Arrow are based in Toronto. All of the portfolio managers and advisors, including Veronika Hirsch, Alex Ruus, Capital Innovations, LLC and Integrated Managed Futures Corp., will continue to provide services to their respective funds. The combined platforms will provide investors with greater investment choices, an improved level of service, and the expectation of a decrease in costs based on the capacity of a larger company.

The Independent Review Committee for the Exemplar Funds has been re-constituted with members Ross MacKinnon, Ronald Riley and John Anderson.

At a special meeting of the security holders of the Exemplar Funds, the security holders approved a change of manager from BluMont to Arrow. Arrow intends to amalgamate with BluMont within the next six months continuing under the name “Arrow Capital Management Inc.”. The directors and senior officers of the combined company will be the current directors and senior officers of Arrow.

Arrow Capital Management

Press Release


What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. Investing - BlackRock targets ETF investors with flexible currency hedging, Nelson Peltz bets on General Electric Company and Mondelez International, Apple plummets to 4th place among hedge holdings, from No. 1, Top Q3 equity purchases and sales of top 50 hedge funds[more]

    BlackRock targets ETF investors with flexible currency hedging From BlackRock Inc., the world’s largest asset manager, is changing course on exchange-traded funds that protect against currency volatility. After stressing the easy switch between hedged and unhedged ET

  3. BlackRock is shutting down its Global Ascent macro fund[more]

    Komfie Manalo, Opalesque Asia: BlackRock, the world’s largest asset manager, has announced plans to shut down a macro fund, Global Ascent Fund, because of "headwinds facing the industry". The hedge fund, which makes bets on stock, bond and currency markets, will return money to investors. Ac

  4. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  5. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega