Press Release 2004
TORONTO, August 20, 2004 – Brascan Asset Management Inc., a wholly owned subsidiary of Brascan Corporation (NYSE: BNN, TSX: BNN.a), announced today the filing of a preliminary prospectus with the provincial securities regulators across Canada for the initial public offering of trust units of the Brascan SoundVest Total Return Fund (the “Fund”).
The Fund is an actively managed investment trust which invests primarily in a diversified portfolio of income trusts and common shares and other equity securities. The Fund may also invest in high yield debt securities, up to a maximum of 20% of the value of the portfolio. The portfolio is initially expected to be invested with a 75% allocation to income trusts and 25% to common shares. This allocation is expected to provide an attractive current yield while offering the potential for capital appreciation.
The Fund will be managed by a subsidiary of Brascan Asset Management. SoundVest Capital Management Ltd., which is 50% owned by Brascan, will act as the investment advisor and portfolio manager.
The offering will be co-led by RBC Capital Markets and CIBC World Markets Inc. and includes a syndicate of underwriters including BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Trilon Securities Corporation, Canaccord Capital Corporation, Raymond James Ltd., Desjardin Securities Inc., Dundee Securities Corporation, and First Associates Investments Inc. A copy of the preliminary prospectus may be obtained through www.sedar.com.
For further information please contact:
Mr. Bruce Robertson
President and Chief Executive Officer
Brascan Total Return Management Ltd.
Tel: 416-363-0061
Email: brobertson@brascanam.com
