Montrusco Capital Management Inc. today announced the closing of the initial public offering of 4.25 million units of Montrusco Bolton Income & Growth Fund.

The units are listed on the Toronto Stock Exchange under the symbol MBL.UN.

The fund is designed to provide unitholders with high monthly cash distributions by investing in an actively managed diversified portfolio of securities consisting primarily of securities of income trusts and common shares listed on a North American stock exchange or traded on a North American stock market.

The fund’s portfolio manager is Montreal-based Montrusco Bolton Investments Inc. MBI provides investment management services to pension and mutual funds, endowments and foundations, and high net worth individuals. As at November 30, 2004, MBI managed total assets of approximately $4.6 billion.

The syndicate of agents for this offering was led by National Bank Financial Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc., and included BMO Nesbitt Burns Inc., Desjardins Securities Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Dundee Securities Corp. and First Associates Investments Inc.

The fund has granted the agents for the offering an over-allotment option to acquire up to an additional 433,547 units which is exercisable at any time during the next 30 days.