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TORONTO, Nov. 7, 2024
/CNW/ - Arrow Capital Management Inc. ("Arrow Capital") announced a
target closing date for Arrow EC Income Advantage Alternative Fund
(the "Fund") of February
28th, 2025, or a target asset level of
C$1Billion. The Fund, advised by East
Coast Asset Management SEZC ("East Coast"), appeals to fixed income
investors seeking monthly income with low-interest rate duration
and portfolio diversification benefits.
"We are very happy with our partnership with East Coast, who
have done a great job in the fixed income Investment Grade space in
Canada. Based on our joint
success, we are approaching our capacity target of $1Billion," says Mark Purdy, Chief
Investment Officer of Arrow Capital. "Over the past three years the
fund's assets have grown significantly and have continued to
provide attractive risk-adjusted returns".
The target of C$1Billion is the
largest capacity raise reached by Arrow Capital, although the
strategy itself is not being closed. The ETF series of the Fund
will continue to trade on the TSX (TSX: RATE) and be open for
creations and redemptions.
The investment objective of the Fund is to generate attractive
risk-adjusted returns with low volatility in all interest rate
environments. Unlike traditional fixed income strategies, the Fund
maintains attractive exposure to a diversified portfolio of
Canadian investment grade corporate bonds, seeking to eliminate the
interest rate risk associated with such bonds. "Our
partnership with Arrow Capital dates back to 2011, and we are very
pleased to celebrate this successful milestone with them. We
continue to manage our overall firm assets with a focus on
providing solid, risk adjusted returns to our investors", stated
Mike MacBain, founder and CEO of
East Coast.
About Arrow Capital Management Inc: Arrow Capital is an
employee-owned company, founded in 1999. Arrow Capital's expertise
in active portfolio management and manager selection is evident in
its strong, diverse platform, which provides clients with access to
a global selection of actively managed mutual funds, liquid
alternatives funds and ETFs. Arrow Capital is committed to
continuously providing investors with access to a wide range of
investment solutions. With over 20 years in business, Arrow Capital
is well respected as a Canadian alternative investment company.
About East Coast Asset Management SEZC: Founded by Mike MacBain, who serves as CEO and CIO. East
Coast has established itself as a prominent player in the
alternative fixed income space. With the aim of providing high net
worth individuals the ability to maximize risk-adjusted returns of
investment grade credit while removing exposure to interest rates.
The portfolio management team at East Coast has over 100 years of
experience combined in financial services and has been a
sub-advisor to Arrow Capital funds since 2011.
For more information about Arrow Capital Management Inc.:
Please visit www.arrow-capital.com
Commissions, trailing commissions, management and performance
fees and expenses all may be associated with investment fund and
ETF investments. Please read the relevant prospectus before
investing. Investment funds and ETFs are not guaranteed, their
values change frequently, and past performance may not be repeated.
Tax, investment and all other decisions should be made, as
appropriate, only with guidance from a qualified
professional.
SOURCE Arrow Capital Management Inc.
