Press release from CNW Group
The Canadian Shield Fund raises an additional $62 million through warrant exercise
Friday, April 01, 2011
TORONTO, April 1 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) is pleased to announce the issuance of additional units of The Canadian Shield Fund (TSX:MSP.UN) pursuant to the exercise of warrants issued as part of the Fund's initial public offering. The Fund issued 5,919,469 units for gross proceeds of $62,154,424.50.
The investment objectives of the Fund are to generate risk-adjusted absolute returns in Canadian dollars and to preserve the Fund's capital in all market environments. The Fund seeks to achieve these objectives by investing its capital, including the net proceeds of the exercise of warrants, in an actively-managed portfolio consisting mainly of Canadian securities.
The Fund has been designed to take advantage of the expertise of Parador Asset Management, LLC, which provides investment advisory and portfolio management services to the Fund. Parador's Chief Investment Officer is Roger Mortimer.
Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services. With $70.3 billion in assets under management as of February 28, 2011, Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $133 billion in total assets under management as of February 28, 2011.
To learn more, please contact your financial advisor or visit www.mackenziefinancial.com/msp.
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