Norrep Capital Management Ltd. Announces Date Change for Mutual Fund Merger Meetings and Proposed Change in Benchmark
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 04/20/16 -- Norrep Capital Management Ltd. (Norrep), the manager of a strategically focused group of public mutual funds, alternative investment funds and limited partnerships, announced today that it has changed the dates of the special shareholder meetings previously called to consider two fund mergers, and that it is proposing to change the benchmark of Norrep Entrepreneurs Class.
Fund Merger Meetings
On March 22, 2016, Norrep announced its intention to take steps to merge Norrep Global Class into Norrep Global Income Growth Class, and Norrep Canadian Equity Class into Norrep Core Canadian Pool, subject to all required shareholder and regulatory approvals. The special meetings of shareholders of these funds were scheduled to occur on or about May 16, 2016. Norrep has changed the date of the Meetings to on or about June 15, 2016.
Change in Benchmark
As part of its review of the benchmarks against which its investment funds are measured, Norrep has determined it is appropriate to change the benchmark of Norrep Entrepreneurs Class to 100% BMO Small Capitalization Equity Only Weighted Total Return Index from the current benchmark of 70% BMO Small Capitalization Equity Only Weighted Total Return Index and 30% S&P Developed SmallCap Total Return Index in Local Currencies (the Benchmark Change). The Benchmark Change is considered appropriate as the fund is currently comprised substantially of Canadian issuers. The Benchmark Change requires shareholder approval because the performance fee applicable to the fund is determined based on outperformance relative to its existing benchmark. Accordingly, in accordance with applicable securities laws, because the Benchmark Change could impact the fees applicable to the fund, shareholder approval is required. Norrep referred the Benchmark Change to the fund''s Independent Review Committee, which provided its positive recommendation. The special meeting of shareholders will occur on or about June 15, 2016. Shareholders of record on the record date will receive a management information circular providing details of the Benchmark Change.
Norrep Capital Management Ltd. is a Canadian investment firm with offices in Calgary and Toronto. Please visit for more details about Norrep and its investment products. For the complete disclosure record of the Norrep Group of Funds, please visit .
Contacts:
Norrep Capital Management Ltd.
Leila Li
Dealer & Client Services Associate
1100, 606 - 4 Street SW, Calgary, Alberta T2P 1T1
(877) 431-1407
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.04.2016 - 08:47 Uhr
Sprache: Deutsch
News-ID 1429399
Anzahl Zeichen: 3296
contact information:
Contact person:
Town:
CALGARY, ALBERTA
Phone:
Kategorie:
Investment Services & Trading
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 146 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Norrep Capital Management Ltd. Announces Date Change for Mutual Fund Merger Meetings and Proposed Change in Benchmark
"
steht unter der journalistisch-redaktionellen Verantwortung von
Norrep Capital Management Ltd. and Norrep Global Income Growth Class and Norrep Global Class and Nor (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
