KBSH Leaders Trust announced today that it has completed its initial public offering of trust units worth $45 million in an offering led by RBC Capital Markets and CIBC World Markets Inc.

The other members of the syndicate are BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Canaccord Capital Corp., Desjardins Securities Inc., Dundee Securities Corp. and Yorkton Securities Inc.

The investment objectives of the trust are: to provide unitholders with a stable stream of monthly distributions targeted at 20.83¢ per unit ($2.50 per annum or 10% on the original issue price); and to return at least the original issue price of the Units ($25 per unit) to unitholders upon termination of the trust on Dec. 31, 2010.

The proceeds of the offering will be invested primarily in a diversified portfolio of U.S. equities of large and mid-cap companies.

KBSH says a significant portion of the portfolio will emphasize companies having a market capitalization of between US$5 billion and US$20 billion that are emerging leaders in their industry. The portfolio may also hold select Canadian and international equity securities

The units trade under the symbol KLT.UN on the Toronto Stock Exchange.

KBSH Capital Management Inc., the investment manager of the trust, has approximately $9 billion in assets under management on behalf of pension funds, foundations, institutions, wrap accounts and private clients.