Ridgewood Canadian Investment Grade Bond Fund Files Preliminary Prospectus
Toronto, Ontario - October 30, 2009 - Ridgewood Capital Asset Management Inc. (“Ridgewood”) is pleased to announce that it has filed a preliminary prospectus in respect of an initial public offering of units of Ridgewood Canadian Investment Grade Bond Fund (the “Fund”). Ridgewood will be the manager, trustee and portfolio advisor of the Fund.
The Fund will seek to achieve the following investment objectives: (i) to provide unitholders with monthly cash distributions, initially targeted to be 5.25% per annum on the original issue price of $12.00 per unit; and (ii) to maximize total returns for unitholders while preserving capital in the long term.
The syndicate of agents for the offering is being led by TD Securities Inc., CIBC World Markets Inc. and RBC Capital Markets and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Blackmont Capital Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Dundee Securities Corporation and Manulife Securities Incorporated.
About Ridgewood Capital Asset Management Inc.:
Ridgewood is an independent investment manager that manages or subadvises approximately $1 billion in assets for a diversified client base of high net worth individuals, foundations/endowments, First Nation mandates, institutional accounts and wrap programs, of which $400 million is invested in fixed income assets.
For more information please call John H. Simpson, CFA, Managing Director, Ridgewood Capital Asset Management Inc. at (416) 479-2751.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from your registered financial advisor. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.