RoyNat Management Inc. and B E S T Capital Management Ltd. have received regulatory approval to launch a new labour sponsored venture fund, the RoyNat Canadian Diversified Fund.

The objective of the new fund will be to generate interest and dividend income while delivering long term capital appreciation.

“With over 40 years of experience, RoyNat Capital understands the Canadian mid-market and its extraordinary growth potential,” said Rod Reynolds, president and CEO, RoyNat Capital. “Our national presence will allow us to source opportunities that generate dividend income and long-term capital appreciation by targeting a balance of stable, traditional industries and high growth technology companies..”

B E S T Capital Management Ltd. is the manager of the fund and will provide administrative expertise and marketing and sales support. B E S T has over seven years experience in the private equity, venture capital arena.

The fund is RRSP eligible and is available for purchase through licensed dealers. The final prospectus for the fund was filed in each province except Quebec. A separate prospectus will be filed in Quebec shortly.