BluMont Capital Corp. today announced a definitive agreement with Augen Capital Corp. that transfers the portfolio management, sales and marketing, and back-office administration functions of Augen’s flow-through fund business, including Augen Resource Strategy Fund (RSF), to BluMont.
Augen will continue to act as a flow-through consultant responsible for the sourcing of mineral flow-through investments to both the existing flow-through funds and to new BluMont-Augen flow-through funds. The new flow-through funds will be established by BluMont and will have a mining focus.
BluMont will assume the portfolio management, sales and marketing, and back-office administration functions relating to Augen’s flow-through fund business including Augen RSF. Subject to unitholder approval, BluMont will replace Augen in its current role as manager to Augen RSF.
Augen will share the management and performance fees payable by existing and new funds and will share the due diligence fees from the resource issuers that the funds invest in. The agreement expires on Dec. 31, 2010 unless extended by BluMont and Augen.
Augen Capital is a Toronto-based merchant bank which finances early stage resource companies.
BluMont manages and distributes alternative investment products designed to provide enhanced diversification and return potential outside of traditional equity and fixed income investments.
Paul Perrow, ;resident and CEO of BluMont stated: “We are pleased to be able to further expand our product line through this agreement with Augen. We are constantly searching for skilled, capable investment management teams like Augen that we can add to our nationwide platform.”
Augen transfers flow-through fund business to BluMont
BluMont to launch flow-through funds with a mining focus
- By: IE Staff
- August 29, 2007 August 29, 2007
- 12:45