Marret Investment Grade Bond Fund Closes IPO

On October 23, 2009, Marret Investment Grade Bond Fund completed its initial public offering of 26,700,000 units at $12.00 per unit, raising gross proceeds of $320.4 million. The Fund will give unit-holders exposure to an actively managed portfolio of highly liquid, North American, investment grade bonds. The syndicate of agents was led by RBC Dominion Securities Inc. and included CIBC World Markets Inc., TD Securities Inc., GMP Securities L.P., BMO Nesbitt Burns Inc., Dundee Securities Corporation, National Bank Financial Inc., Scotia Capital Inc., Blackmont Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Laurentian Bank Securities Inc. and Manulife Securities Inc.

The Fund and its manager, Marret Asset Management Inc., were represented by Stikeman Elliott LLP, with a team that included Philip Henderson and Sarah Horan (securities) and Trevor McGowan (tax).

The agents were represented by McCarthy Tétrault LLP, with a team that included Andrew Armstrong and Lara Nathans (securities) and James Morand (tax).