Marret Asset Management Inc. Announces Annual Redemption for Marret High Yield Strategies Fund

TORONTO, July 17, 2013 /CNW/ - Marret Asset Management Inc. ("Marret") announces today that 30,157,174 units of Marret High Yield Strategies Fund (TSX: MHY.UN) (the "Fund"),  have been submitted for redemption in advance of the annual redemption date of July 30, 2013, and that  36,861,267 units will remain outstanding.  Unitholders who tendered units for redemption will be entitled to receive the net asset value per unit of the Fund as at July 30, 2013, less any costs associated with the redemption, including commissions and other such costs, if any, related to the partial settlement of the forward agreement through which the Fund obtains exposure to the underlying portfolio held by MHY Trust (the "Underlying Portfolio") to fund such redemption. Redeeming unitholders will also be entitled to receive the previously announced monthly distribution for July of $0.05 per unit. Payment of redemption proceeds will be made on or about August 22, 2013.

About Marret Asset Management Inc.

Marret Asset Management Inc. is an employee-owned firm based in Toronto. Marret and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies. Barry Allan, the President and Chief Investment Officer, founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank. Mr. Allan has over 30 years of experience in credit and fixed income markets.

SOURCE: Marret High Yield Strategies Fund