Redwood Announces the Termination of TIS Preservation and Growth Fund
December 9, 2014
TORONTO, ONTARIO–(Marketwired – Dec. 9, 2014) – Redwood Asset Management Inc. announces the termination of the TIS Preservation and Growth Fund (the “Fund”) on or about December 27, 2014.
Redwood has sold the last remaining private position in the Fund, after seeking a buyer for that position since halting sales and redemptions of the Fund in 2010. The Fund has received a cash payment in exchange for the Fund’s preferred shares in its remaining private position, which is been distributed to unitholders. Unitholders of the Fund have now received a final cash distribution estimated at CAD $0.18 per unit.