O’Leary Funds Management LP announced on Monday that it has filed a final prospectus for the initial public offering of the O’Leary Advantaged Tactical Global Corporate Bond Fund.

The fund is an investment trust with objectives to preserve capital, and to provide unitholders with tax advantaged monthly distributions. It was created to provide investors with exposure to fixed income investments through a portfolio comprised of corporate fixed-rate debt; corporate floating-rate debt; corporate fixed-to-floating-rate debt; and convertible debt offered by global issuers.

The prospectus was filed with the securities regulators in each province. The offering, for a maximum of $200,000,004 is scheduled to close on June 18.

O’Leary proposes to issue units of the fund at a price of $12.00 per unit, with each unit consisting of one transferable trust unit and one trust unit purchase warrant. Monthly distributions are initially targeted to be $0.06 per unit, for an annual yield of 6% based on the $12.00 per unit issue price.

Stanton Asset Management Inc., which provides investment advisory services to the fund, believes the portfolio will provide investors with attractive yield to maturity; more stability than a portfolio of global equity securities; and capital preservation in a period of rising interest rates and gradual economic recovery.

Stanton, together with Savtrev, Inc., will implement the investment strategy of the portfolio and will identify markets and investment opportunities.

On or before August 1, 2011, the fund will become an open-end mutual fund, the trust units of the fund will be delisted and will become redeemable at their net asset value per trust unit on a daily basis.

The syndicate of agents is co-led by CIBC World Markets Inc. and RBC Capital Markets and includes BMO Capital Markets, Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Wellington West Capital Markets Inc., Dundee Securities Corporation, GMP Securities L.P., Desjardins Securities Inc., Manulife Securities Incorporated, MGI Securities Inc. and Mackie Research Capital Corporation.

IE