In July of this year, the Fund was notified of proposed structural changes to both of its remaining hedge fund investments. The Fund’s investment advisers reviewed the proposed changes and determined that the hedge funds would no longer satisfy the advisers’ original investment thesis. Consequently, the advisers gave notice to the hedge fund manager of their decision to redeem the Fund’s hedge fund investments. Such redemptions will occur on
As the Fund has invested significantly in these hedge funds – representing approximately 33% of the Fund’s assets – the advisers are actively analyzing alternative opportunities to reinvest the redemption proceeds, including into other hedge funds. Any future hedge fund investments will be subject to the outcome of the Fund’s special meeting of stockholders to be held on
This press release is not intended to, and does not, constitute an offer to sell, or solicitation of an offer to buy, shares of the Fund or its affiliated funds; nor is this letter intended to solicit a proxy from any stockholder of any of the affiliated funds. Such solicitations will only be made by a final, effective registration statement, which includes a definitive Joint Proxy Statement/Prospectus (the “Registration Statement”), after the Registration Statement is declared effective by the
INVESTORS AND SECURITY HOLDERS OF THE FUND ARE URGED TO READ THE REGISTRATION STATEMENT AND OTHER DOCUMENTS TO BE FILED WITH THE
The Registration Statement will not constitute an offer to sell securities, nor will it constitute a solicitation of an offer to buy securities, in any state where such offer or sale is not permitted.
Stockholders may obtain free copies of the Registration Statement and other documents (when they become available) filed with the
Current stockholders and prospective investors should consult their own financial and legal advisors about risks associated with investing in the Fund in light of these developments.
For more information on the Fund, please visit us on the web at www.boulderfunds.net.
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