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Press release from CNW Group

Connor, Clark & Lunn Capital Markets Inc. Declares Distribution for CC&L Financial Opportunities Fund

Thursday, June 21, 2012

Connor, Clark & Lunn Capital Markets Inc. Declares Distribution for CC&L Financial Opportunities Fund09:55 EDT Thursday, June 21, 2012TORONTO, June 21, 2012 /CNW/ - Connor, Clark & Lunn Capital Markets Inc. today declared a cash distribution for Connor, Clark & Lunn Financial Opportunities Fund (the "Fund"):FundTrading SymbolDistribution Amount (per Unit)Record DatePayable DateDistribution Amount AnnualizedTSX Trading Price Per Unit as of Jun. 20, 2012Current YieldCC&L Financial Opportunities Fund  (Class A Units and Class F Units)GFO.UN$0.01833Jun. 29, 2012Jul. 16, 2012$0.22$4.055.4%The monthly distribution rate for the Fund has been reduced from $0.02778 to $0.01833 per Unit (Class A and F).  The new distribution rate was set at an annualized yield of 5.0% of net asset value per Unit based on the most recent net asset value per Unit at the time the decision to change the distribution was made (5.43% based on the most recent closing price of $4.05 per Class A Unit).  The Manager seeks to achieve a balance between paying out income and realized capital gains of the Fund while maintaining the net asset value of the Fund.  While the portfolio manager, Guy de Blonay of Jupiter Asset Management Limited, sees opportunities in the global financial services sector, we remain mindful that uncertainties remain, particularly surrounding financial reforms and eurozone fiscal challenges, resulting in less visibility on the ability to realize capital gains.  As a result, the distribution rate has been adjusted so that distributions are not simply a return of unitholder capital over an extended period.Connor, Clark & Lunn Capital Markets Inc. (CC&L Capital Markets) is a leading Canadian structured financial products investment firm that is focused on creating and managing high quality investment vehicles that will stand the test of time and ultimately allow our clients to achieve their personal financial goals. Formed in 2001, CC&L Capital Markets has designed, launched and currently manages eighteen investment vehicles, raising more than $2 billion in assets.CC&L Capital Markets is part of the Connor, Clark & Lunn Financial Group.  Connor, Clark & Lunn Financial Group provides investment management services to individuals, advisors, pension plans, institutional investors and foundations.  The investment platform offers a broad range of traditional and alternative investment management services, including domestic and international equities and fixed income, hedge funds, private equity and infrastructure.As Canada's only multi-boutique asset management firm, Connor, Clark & Lunn Financial Group is uniquely focused on creating the conditions for success for its clients, partners and employees.  The firm has offices in Vancouver, Edmonton, Calgary, Regina, Toronto, Ottawa and Montreal and through its affiliated investment managers is responsible for the investment of approximately $38 billion in financial assets.  For further information: please visit www.cclcapitalmarkets.com or contact: Darren Cabral Vice President & CFO Connor, Clark & Lunn Capital Markets Inc. 416-214-6182 Toll Free: 1-888-276-2258 cclcapitalmarkets@cclgroup.com