James McGovern, chief executive officer of Arrow

Arrow Capital Management acquires BluMont Capital

Fri, 06/12/2013 - 12:32

Arrow Capital Management has received all necessary approvals of applicable securities regulatory authorities to complete the purchase of BluMont Capital Corporation from Integrated Asset Management.

BluMont is the manager of the Exemplar Global Agriculture Fund, the Exemplar Global Infrastructure Fund, the Exemplar Leaders Fund, the Exemplar Timber Fund, the Exemplar Yield Fund, the Exemplar Canadian Focus Portfolio and the Exemplar Diversified Portfolio. 
 
Arrow will continue to use the Exemplar Funds brand for its actively managed prospectus offered mutual funds.
 
Effective immediately, James McGovern (pictured), chief executive officer of Arrow, and Robert Maxwell, chief financial officer of Arrow, will become the respective chief executive officer and chief financial officer of BluMont. They have also been appointed as directors of BluMont, such that the board of directors of BluMont will be comprised of McGovern, Maxwell and Veronika Hirsch.  The same individuals also are now the officers and directors of the Exemplar Portfolios Ltd., which includes the Exemplar Canadian Focus Portfolio class of shares and the Exemplar Diversified Portfolio class of shares.
 
Both BluMont and Arrow are based in Toronto. All of the portfolio managers and advisors, including Hirsch, Alex Ruus, Capital Innovations and Integrated Managed Futures, will continue to provide services to their respective funds. The combined platforms will provide investors with greater investment choices, an improved level of service, and the expectation of a decrease in costs based on the capacity of a larger company.
 
The independent review committee for the Exemplar Funds has been re-constituted with members Ross MacKinnon, Ronald Riley and John Anderson.
 
At a special meeting of the security holders of the Exemplar Funds, the security holders approved a change of manager from BluMont to Arrow. Arrow intends to amalgamate with BluMont within the next six months continuing under the name “Arrow Capital Management Inc”.  The directors and senior officers of the combined company will be the current directors and senior officers of Arrow.
 
Founded in 1999, Arrow is an employee-owned company focused on alternative asset management and manager selection. Its strong, diverse platform provides access to a global selection of innovative investment funds across a range of asset classes, strategies and both single- and multi-manager portfolios. 
 
Arrow has USD1.2bn in assets under management, including its joint venture with Generation Asset Management based in London, England.  


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