Toronto-based frontierAlt Investment Management Corp. today announced that Global Dividend Fund has filed and has received final approval from securities regulators for an initial public offering to raise up to $100 million.

Units of the fund are priced at $10 a share. The IPO is scheduled to close on Jan. 4, 2007.

The fund’s investment objectives are to provide holders of units with monthly cash distributions; and to preserve and enhance net asset value.

The fund is designed to provide diversification through investments in international companies that are leaders in their sector and country. The net proceeds of the offering will be invested in a diversified global portfolio comprised primarily of common shares and other equity securities of issuers that the investment advisor of the fund believes are fundamentally sound but which are trading at a discount to their intrinsic value.

The fund’s investment advisor is MFC Global Investment Management (Canada), a division of Elliott & Page Limited, which is part of MFC Global Investment Management.


MFC Global will actively manage the portfolio and will seek to invest in issuers that have strong cash flows and the ability to grow their distributions. It expects that the resulting portfolio will be comprised of the equity securities of approximately 40 – 60 issuers diversified by both geography and sector, with each issuer typically having a market capitalization of at least U.S.$2 billion.

The syndicate of agents for this offering is being co-led by CIBC World Markets, RBC Capital Markets and Scotia Capital Inc., and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., Wellington West Capital Inc., Berkshire Securities Inc., Desjardins Securities Inc. and GMP Securities L.P.