The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Changes to Brascan SoundVest Rising Distribution Split Trust Completed

Friday, April 30, 2010

Changes to Brascan SoundVest Rising Distribution Split Trust Completed14:23 EDT Friday, April 30, 2010TORONTO, ONTARIO--(Marketwire - April 30, 2010) - Brookfield Soundvest Capital Management Ltd. today announced the completion of the previously announced changes to Brascan SoundVest Rising Distribution Split Trust (the "Fund") (TSX:BSD.UN)(TSX:BSD.PR.A) effective April 30, 2010. These changes were approved at a special meeting of unitholders of the Fund held on April 20, 2010.The investment strategy of the Fund was expanded to allow investment in a broader set of primarily high yielding equity securities. This change permits the Fund to invest in a broader range of securities to off-set the reduction in the number of income trust investments resulting from the Canadian Federal Government's decision announced on October 31, 2006 to change the way that income trusts are to be taxed, effective January 1, 2011. The Fund's investment objectives remain the same. In conjunction with the changes to the Fund's investment strategy, the Fund was renamed Brookfield Soundvest Split Trust effective the start of trading April 30, 2010. Also, Brookfield Soundvest Capital Management Ltd. replaced Brookfield Investment Management (Canada) Inc. as the manager of the fund.Brookfield Soundvest Funds are dedicated to providing high-quality investment funds to retail investors. The investment advisor and portfolio manager for the Funds is Brookfield Soundvest Capital Management Ltd., which is 50% owned by Brookfield Asset Management Inc. Brookfield Soundvest is an established investment advisor, providing investment management services to insurance companies, trusts, foundations and high net worth individuals.For further information please visit our website at www.brookfieldfunds.com.About Forward-looking InformationNote: This news release contains forward-looking information within the meaning of Canadian provincial securities laws. The words "proposed", "will", "believes", and other expressions, which are predictions of, or indicate, future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements with respect the Manager's beliefs, outlooks, plans, expectations and intentions. Although the Manager believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of the Fund are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of the Fund to differ materially from those contemplated or implied by the statements in this news release include changes in legislation including tax laws and regulations and other risks and factors described in the documents filed by the Manager with the securities regulators in Canada including under the heading "Risk Factors" in the Fund's prospectus and most recently filed Management Report of Fund Performance and Annual Information Form and other risks and factors described in the continuous disclosure documents of the Fund available at www.sedar.com or www.brookfieldfunds.com. Except as required by law, the Manager undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.FOR FURTHER INFORMATION PLEASE CONTACT: Brascan SoundVest Rising Distribution Split Trust Investor Relations (888) 777-4019 Email: inquiries@brookfieldfunds.com