TORONTO, ONTARIO--(Marketwire - Jan. 18, 2011) - Brookfield Soundvest Funds (TSX:BSE.UN)(TSX:BSD.UN) today announced monthly distributions for the following funds:
|Fund||Ticker (TSX)||Distribution (per unit)||Record Date||Payable Date|
|Brookfield Soundvest Equity Fund||BSE.UN||$0.02||January 31, 2011||February 15, 2011|
|Brookfield Soundvest Split Trust||BSD.UN||$nil||See below||See below|
The Brookfield Soundvest Equity Fund (the "Fund") distribution reflects a current annualized rate of $0.24 per unit per annum. This anticipated distribution reflects prevailing market conditions and the Fund's estimate of distributable cash flow for the year.
The monthly distribution on the Capital Units of the Brookfield Soundvest Split Trust (the "Trust") has been suspended for the current month. The quarterly distributions payable on the Trust's Preferred Securities continue to be unaffected by these announcements.
In addition, on January 5th 2011 Brookfield Soundvest Funds announced that the annual redemption rights attributable to the Capital Units and the Combined Securities (being one Capital Unit and a $10.00 principal amount of Preferred Securities) of the Trust are being reinstated subject to the provisions in the Trust's Declaration of Trust.
The Trust will continue to monitor its net asset value to determine when it will be able to make future distributions on its Capital Units.
Brookfield Soundvest Funds give investors access to tax-advantaged distributions while focusing on capital preservation and long-term total return. The manager and investment advisor and portfolio manager for the Funds is Brookfield Soundvest Capital Management Ltd. (the "Manager"), an established investment advisor, providing investment management services to trusts, foundations, corporations and high net worth individuals.
Note: This news release contains forward-looking information within the meaning of Canadian provincial securities laws. The words "will", "continue" 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 regarding payment of future monthly distributions in respect of Capital Units of the Trust. 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 Trust are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of the Trust to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in Canada and elsewhere, 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 "Risk Factors" and other risks and factors described in the Trust's prospectus and the Trust's most recently filed Management Report of Fund Performance, Annual Information Form and other continuous disclosure documents 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.