Diamond Hill Financial Trends Fund, Inc. Announces Repurchase Program
December 15 2009 - 4:15PM
PR Newswire (US)
COLUMBUS, Ohio, Dec. 15 /PRNewswire-FirstCall/ -- Diamond Hill
Financial Trends Fund, Inc. (NASDAQ:DHFT) announced today that the
Board of Directors, in evaluating strategic options to enhance
shareholder value has authorized a share repurchase program of up
to 200,000 shares, or 5% of its outstanding shares. The amount and
timing of any repurchases will be at the sole discretion of Diamond
Hill Capital Management, Inc., the Fund's investment adviser. Chris
Bingaman, portfolio manager noted, "When determining whether to
repurchase shares, we will consider the relative market discount to
NAV, other investment opportunities available, and the impact any
repurchase would have on the expense ratio of the Fund." There is
no assurance that the Fund will purchase shares at any specific
discount levels or in any specific amounts or on any specific date.
The Fund's repurchase activity will be disclosed in its shareholder
report for the relevant fiscal period, and will be subject to
regulatory requirements. There is no assurance that the market
price of the Fund's shares, either absolute or relative to net
asset value, will increase as a result of any share repurchases.
The Board will monitor the effect of the share repurchase program
on the Fund's market price and net asset value per share, expense
ratio and investment strategy over time. About the Fund: The Fund's
primary objective is to seek long-term capital appreciation by
investing in companies selling for less than and shorting companies
selling for more than our appraisal of intrinsic value. Current
income is a secondary objective. The Fund invests at between 80%
and 115% of its assets long and sells short between 0% and 30% of
its assets in stocks of U.S. financial services companies of any
size. About Diamond Hill: Diamond Hill Capital Management, Inc.
provides investment management services to institutions and
financial intermediaries seeking to preserve and build wealth. The
firm currently manages mutual funds, separate accounts and private
investment funds. For more information on Diamond Hill, visit
http://www.diamond-hill.com/. DATASOURCE: Diamond Hill Financial
Trends Fund, Inc. CONTACT: James F. Laird, President of Diamond
Hill Financial Trends Fund, Inc., +1-614-255-3353, Web Site:
http://www.diamond-hill.com/
Copyright