Sun, May 1, 2016
A A A
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

BM

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n