Gencap Funds LP announced that a final prospectus for the O’Leary Global Equity Income Fund has been filed with, securities regulatory authorities across Canada.

The fund has been created to invest primarily in global income-generating equity securities. It will permit investors to capitalize on the knowledge and capabilities of portfolio manager Stanton Asset Management Inc. and O’Leary Funds Corp., who will work together to identify global investments providing income and value, plus capital appreciation potential.

Stanton believes that a value investing approach provides investors with the opportunity for attractive total returns while diversifying risk, a theme espoused by Kevin O’Leary on regular television appearances. Stanton also believes that the current market environment has created opportunities to invest in high quality securities that have both attractive levels of income and capital appreciation potential.

The fund’s investment objectives are: to provide unitholders with monthly distributions initially targeted to be 5¢ per trust unit; and to provide long-term capital appreciation.

The fund proposes to issue units at a price of $12 per unit. Each unit consists of one transferable trust unit and one half of a trust unit purchase warrant. The units will separate into trust units (TSX:OGE.un) and warrants (TSX:OGE.wt) immediately upon closing of the Offering. Each warrant entitles the holder to purchase one trust unit at a subscription price of $12 on or before 17:00 ET on Dec. 31, 2010. Warrants not exercised by that time will be void and of no value.

The order book will be open until 12:00 ET on June 26. Closing is expected to occur on June 27.

The net proceeds of the offering will be invested in an actively managed portfolio which will be diversified globally by region, by country and by industry sector. The fund’s portfolio will consist primarily of publicly traded common shares and preferred shares of issuers with a market capitalization of $1 billion or more. The investment team of Stanton, which includes Connor O’Brien, André Marsan and Guthrie Stewart, will focus on value securities that offer a relatively high level of current income, as well as attractive potential for capital appreciation.

The syndicate of agents is co-led by CIBC World Markets Inc. and Scotia Capital Inc., and includes National Bank Financial Inc., Canaccord Capital Corp., Desjardins Securities Inc., Dundee Securities Corp., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Inc., Berkshire Securities Inc., Blackmont Capital Inc. and GMP Securities L.P.