Brompton Funds
Toronto, December 14, 2009:: Brompton Funds Management Limited (the “Manager”) has completed the tax-deferred transfer of assets of Brompton 2008 Flow-Through LP (the “Partnership”) into the Front Street Resource Fund (the “Rollover Fund”) as described in the Partnership’s November 13, 2009 press release. Front Street is an experienced manager of resource oriented investments and offers an established mutual fund platform; as such the Manager believes the Rollover Fund provides investors with an attractive means to continue holding resource investments.
The Partnership has performed very well in light of the turbulent markets of the past year. Based on actual and expected tax savings on the resultant money-at-risk, unitholders have achieved an after-tax annualized return of approximately 13.5%. The performance has come from the portfolio manager’s disciplined investment approach and its unwillingness to invest simply for the benefit of the tax deduction. In January 2009, the Partnership returned $9.45 of capital to investors rather than invest in lower quality flow-through shares in the fourth quarter of 2008. This amount combined with the current net asset value per unit results in a total value of $22.30 per unit.
Investors were transferred into the Rollover Fund at the final net asset value per unit of the Partnership of $12.8499 per unit and should they choose to redeem, they will receive the then current net asset value per share upon redemption. Each Partnership unit was converted into Series B shares of Front Street Resource Fund (“Fund shares”) at a rate of 1.451704 Fund shares for each Partnership unit. There was no fee or commission charged by the Rollover Fund when Series B shares were issued and there will be no fees charged on redemption. The Fund shares will provide daily liquidity through FundServ as soon as possible after the rollover, once the individual holders’ investment advisor has reconciled positions with FundServ, under FundServ Code “FSC401”. The Partnership will be dissolved on or about December 17, 2009.
Each limited partner was mailed the Rollover Fund’s prospectus. The prospectus contains important information about the Rollover Fund, including investment strategy, fees and risks. Brompton encourages all investors to read the prospectus for all other terms and conditions of the Rollover Fund.
For further information, please contact:| Brompton Funds | Front Street Capital |
| Ph: 416-642-9051 (toll-free 1-866-642-6001) | Ph: 416-364-1990 (toll-free at 1-800-513-2832) |
| E-mail: info@bromptongroup.com | E-mail: advisorservices@frontstreetcapital.com |
| Website: www.bromptongroup.com | Website: www.frontstreetcapital.com. |
David Roode
Senior Vice President
Brompton Funds Management Limited
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Fund’s publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed; their values change frequently and past performance may not be repeated.