Merger arbitrage fund deadline extended

Tuesday 23rd March 2004

Bancorp New Zealand says it is extending the offer to participate in its merger arbitrage fund until May 14.

Bancorp's merger arbitrage fund is a new, innovative fund for the New Zealand market, and is the only one that offers investors a chance to profit from growing corporate takeover and merger activity in New Zealand and Australia.

Bancorp managing director Craig Browniesays that the offer was being extended for another eight weeks to allow more investors a chance to take part in the fund and capitalise on takeover activity.

"Extending the offer for a further eight weeks allows for the involvement of a greater spread of investors and also will provide the market more time to digest why Bancorp's merger arbitrage fund is so well placed to profit from takeover activity and deliver significantly higher returns than other managed equity funds," Brownie says.

"The merger arbitrage fund is based on a proven, successful investment strategy which has seen much higher returns relative to lower volatility for investors compared with traditional equity funds. It is ideal for retail investors who are looking for a very actively managed fund that has fees that are comparable with similar hedge funds, and yet also provides absolute returns from the growing mergers and takeovers market."

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