The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

/C O R R E C T I O N From Source -- Navina Asset Management Inc./

Tuesday, January 04, 2011

/C O R R E C T I O N From Source -- Navina Asset Management Inc./10:15 EST Tuesday, January 04, 2011In c6364 sent at 14:36 ET December 17, "Navina Asset Management Announces December Distributions, Changes to Distribution Levels for 2011 and Changes to Valuation Frequencies", please note that the table has been revised to reflect that the distribution payment date is Jan 14, 2011 and not Jan 14, 2010. The second last sentence should read "In 2011, the monthly distributions for Global Agribusiness Trust and Navina Global Resource will cease." and not "In 2011, the monthly distributions for Global Agribusiness Trust and Navina Global Resource will cease to be paid." Corrected copy follows:Navina Asset Management Announces December Distributions, Changes to Distribution Levels for 2011 and Changes to Valuation FrequenciesTORONTO, Dec. 17 /CNW/ - Navina Asset Management Inc. (the "Manager"), as manager of the issuers named below (the Navina Funds), announces the following distributions for the month ending December 31, 2010:Navina FundsTSX SymbolRecord DatePayment DateDistribution Amount     Lazard Global Convertible Bond FundCBF.UNDec 31, 2010Jan 14, 2011$0.0583 per unit     Global Agribusiness TrustAGB.UNDec 31, 2010Jan 14, 2011$0.0167 per unit     Navina/Lazard U.S. High Yield Bond Fund--Dec 31, 2010Jan 14, 2011$0.0583 per unit     Navina Global Resource Fund--Dec 31, 2010Jan 14, 2011$0.04167 per unit     Navina Income & Growth Fund--Dec 31, 2010Jan 14, 2011$0.04 per unit     In January 2011, the monthly distribution amount for Navina Income & Growth Fund units will be decreased to $0.03 per unit per month or $0.36 per unit per annum. This revised distribution rate represents a yield of 5.86% based on the current net asset value per unit of $6.15 for Class A units of the fund.  The Manager also advises that commencing in January the Navina Income & Growth Fund will switch to daily valuation from the current weekly valuation and will be available for purchase or sale daily.In 2011, the monthly distributions for Global Agribusiness Trust and Navina Global Resource will cease.The Navina Funds are managed by Navina Asset Management Inc., a wholly owned subsidiary of Aston Hill Financial Inc.  Aston Hill (TSX-V: AHF) is a public asset management company with expertise in income products, energy investments and oil and gas property management.For further information: Catherine Stretch 416-362-6283 info@navinaasset.com