Marret Investment Grade Bond Fund Announces Final Settlement of Forward Agreement

TORONTO, ONTARIO--(Marketwired - Oct. 31, 2014) -

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Marret Asset Management Inc. ("Marret"), as the manager of the Marret Investment Grade Bond Fund (the "Fund"), announced the scheduled final settlement of the Fund's forward agreement (the "Forward Agreement") effective October 31, 2014, in accordance with the terms of the Forward Agreement.

The Fund was created to obtain exposure to a portfolio of North American investment-grade bonds (the "Portfolio") held by Marret IGB Trust (the "Portfolio Trust"). As a result of federal income tax changes in March 2013, the Forward Agreement through which the Fund previously received exposure to the Portfolio could not be extended past its termination date of October 31, 2014. As a result of these changes, the investment structure of the Fund was modified to reflect direct investments in assets comprising the Portfolio effective October 31, 2014. The Fund held a meeting of unitholders on October 2, 2014 to approve, among other things, modifications to the investment objectives, strategies and restrictions which previously governed the Fund to reflect generally the investment objectives, strategies and restrictions of the Portfolio Trust.

In connection with the settlement of the Forward Agreement, the Portfolio Trust will be terminated on or about November 14, 2014.

About Marret

Marret Asset Management Inc. specializes in fixed income and particularly in high-yield debt strategies. The experienced team of investment professionals is led by Barry Allan, President and Chief Investment Officer. He founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank, and has over 30 years of experience in credit and fixed-income markets.