AlphaNorth 2011 Flow-Through Limited Partnership has completed the transfer of its assets to the newly launched AlphaNorth Resource Fund, a class of shares of AlphaNorth Mutual Funds Ltd.
The transfer, effective February 22, was completed in exchange for Series B shares of the Resource Fund on a tax-deferred basis.
Each limited partner received 0.115337 Resource Fund shares for each partnership unit held.
The Resource Fund, a class of AlphaNorth Mutual Funds Ltd., is an open-ended mutual fund available for purchase through Series A and Series F for fee based accounts.
The Resource Fund seeks to generate strong returns by investing in Canadian resource companies that offer attractive risk-reward characteristics. The fund will focus primarily on Canadian junior and intermediate resource companies, however, up to 25% of the fund may be invested in foreign markets.
Toronto-based AlphaNorth Asset Management (AAM), will provide investment advisory and portfolio management services and will direct the day-to-day business operation and affairs of the Resource Fund.
“Equities have lagged the underlying strength in many commodities,” said Palmer. “This is a timely launch as our bullish macro call presents a compelling risk/reward opportunity from current levels for resource equities.”
AAM believes that small cap equities are the best performing asset class over the long-term, particularly following a period of significant decline as was the case in 2011 and 2012.
AAM also manages the AlphaNorth 2012 Flow-Through Limited Partnership, the AlphaNorth Growth Fund and the AlphaNorth Partners Fund.