(July 27 – 11:30 ET) – MOF Management Ltd. has appointed Tuscarora Capital Inc. as manager of Multiple Opportunities Fund and Special Opportunities Fund Ltd., subject to regulatory, shareholder, and unitholder approvals.

Tuscarora has acted as an investment advisor to MOF Management Ltd. with respect to the management of the fund portfolios since August 1999. Unitholder meetings will be held on August 30 to approve the appointment, and associated changes to the investment objectives, management fees and expenses, and auditors of the funds.

The principals and directors of Tuscarora, based in Toronto, are Normand Lamarche and Gary Selke, who collectively have over 29 years of experience in a variety of investment activities including portfolio management and investment banking. Normand Lamarche will serve as the primary portfolio manager.

In a press release, MOF Management Ltd. stated that it believes that the funds’ investment strategies and future prospects will be significantly enhanced with Tuscarora’s investment management experience.
-IE Staff