Fri, Jul 29, 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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  4. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New

  5. SWFs - Abu Dhabi wealth fund says long-term investment gains fell[more]

    From Bloomberg.com: The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term gains dropped in 2015. The fund’s 20-year annual rate of return slowed to 6.5 percent at the end of 2015, from 7.4 percent a year earlier, it said in its annual review. Over