Skylon Advisors Inc., manager of Saxon Diversified Value Trust, has filed a final prospectus with Canadian securities commissions for an initial public offering of units of the trust.

Investors may continue to purchase trust units at a cost of $10 per unit with a minimum investment of $2,500 (250 Units) from registered investment dealers across Canada until November 15.

Skylon says the trust will expose unitholders to the returns on a diversified portfolio of ongoing business trusts by way of one or more forward purchase and sale agreements and to the returns on a diversified portfolio of real estate investment trusts, oil and gas trusts, and energy infrastructure funds. The trust is a 10-year instrument (terminating Dec. 31, 2012) with a conservative tax effective annual yield target of 8%. There is also the potential for annual special distributions in excess of the 8% target yield.

The trust’s investment objectives are: i) to provide unitholders with a stable stream of tax efficient monthly distributions consisting primarily of capital gains and return of capital; and ii) to preserve and enhance the net asset value of the Trust to return at least the original subscription price of the Units to unitholders on or about Dec. 31, 2012.

The Trust’s investment advisor is Howson Tattersall Investment Counsel Ltd., manager of the Saxon Mutual Funds. Richard Howson, executive vice president and CFO, will have primary responsibility for actively managing the portfolios. The Toronto Stock Exchange has conditionally approved the listing of the trust units. Units of the trust are 100% RRSP, RRIF and RESP eligible.

TD Securities Inc., CIBC World Markets Inc. and RBC Capital Markets are co-lead agents for the Trust along with a syndicate of investment dealers.