Connor, Clark & Lunn Capital Markets Inc. has filed a preliminary prospectus for an offering of units in the Connor, Clark & Lunn TIGERS Trust.

Connor Clark & Lunn Investment Management Ltd will provide portfolio management, investing the proceeds of the offering in a diversified portfolio of equity securities of companies selected from the S&P 500 Index. To generate additional returns above the dividend income received by the trust, CCLIM will write covered call options.

The trust’s investment objectives are: to provide unit holders with a stable stream of monthly distributions targeted to be 20.83¢ per unit ($2.50 per annum to yield 10.0% on the subscription price); and to preserve and potentially enhance the value of the US equity portfolio in order to return at least the original issue price of the units to holders upon the termination of the Trust on December 15, 2009. The subscription price is $25 per unit, with a minimum initial investment of $2,500.

“TIGERS will represent our latest offering in a family of investment products,” said Robert Kidd, CC&L Capital Markets president, “The combination of a well-managed portfolio of equity securities and tax efficient income distributions makes TIGERS an attractive alternative to traditional mutual fund products”.

CIBC World Markets Inc., TD Securities and RBC Dominion Securities Inc. are the lead sales agents for the Trust units. The syndicate also includes: BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Yorkton Securities Inc., Canaccord Capital Corporation, and Desjardins Securities Inc.