Low-Volatility Canadian Fund Files For IPO

The Low Volatility Canadian Income Fund, managed by Canadian structured financial products investment firm Connor, Clark & Lunn Capital Markets, has filed preliminary prospectus for the initial public offering (IPO) of its units. The prospectus has been filed with the securities regulatory authorities of all the Canadian provinces and territories. The closed-end investment fund, set up under the laws of the Province of Ontario, proposes to offer units at a price of $10 per unit.

A syndicate of agents co-headed by BMO Capital Markets, Canadian Imperial Bank of Commerce and RBC Capital Markets, and including TD Securities, GMP Securities and National Bank Financial are offering the units in the IPO. The fund invests in an equally weighted portfolio consisted of the 30 equity securities that have the lowest volatility of those securities included in the S&P/TSX Composite Index and a minimum specified current yield at the time of investment.

Click here for the release from Canada Newswire.