Pro-Financial Announces Agreement
TORONTO, Oct. 25, 2013 /CNW/ - Pro-Financial Asset Management Inc. announces it has agreed to sell to Kingship Capital Corporation all the investment management agreements in respect of the Pro FTSE RAFI Canadian Index Fund, Pro FTSE RAFI US Index Fund, Pro FTSE RAFI Global Index Fund, Pro FTSE RAFI Hong Kong China Index Fund, Pro Money Market Fund, Pro FTSE RAFI Emerging Markets Index Fund, Pro FTSE NA Dividend Index Fund, Pro Fundamental Balanced Index Fund and Pro Fundamental Bond Index Fund, which will result in a change of portfolio manager and investment fund manager for the funds.
The transaction is subject to regulatory review by the Ontario Securities Commission and to unitholder approval. The independent review committee of each of the funds will review the change of manager transaction and provide its recommendation to the manager. Written notice of the recommendation will be provided to fund unitholders.
If all requisite approvals are obtained, it is expected that the change of manager transaction will be implemented effective no earlier than December 15, 2013.
Upon completion of the change of manager transaction, the portfolios of the funds will be managed by Kingship Capital.
SOURCE Pro-Financial Asset Management Inc.For further information:
For further information, please contact Stuart McKinnon, Chief Executive Officer of the manager at 905 815 6901.