Burgeonvest Securities Ltd. and Halcyon Fund Management Inc. announced today that they have entered into an agreement with Blumont Capital Corp. to transfer the administrative management contracts of the three mutual funds to BluMont.

The three funds are: Halcyon Hirsch Opportunistic Canadian Fund; Halcyon Hirsch Opportunistic Tactical Allocation Fund; and Halcyon Canadian Demographic Fund.

In consideration for the transfer of the management contracts, the vendors will receive from Blumont cash on closing and deferred consideration based on assets under management in respect of the Halcyon Funds.

It is intended that Halcyon Canadian Demographic Fund will be merged Halcyon Hirsch Opportunistic Canadian Fund.

The closing of the transaction is subject to the approval of the unitholders of the Halcyon Funds at meetings expected to take place in October and receipt of all necessary regulatory approvals.

Burgeonvest is a full-service investment dealer and portfolio manager based in Hamilton, Ont.

BluMont Capital manages and distributes alternative investment products designed to provide enhanced diversification and return potential outside of traditional equity and fixed income investments.