O'Leary Funds Management LP announces completion of the changes approved by unitholders of Yield Advantaged Convertible Debentures Fund and the renaming of the Fund to Convertible Debentures Income Fund
MONTREAL, March 4, 2014 /CNW Telbec/ - O'Leary Funds Management LP, the manager and trustee (the "Manager") of Yield Advantaged Convertible Debentures Fund (TSX: OCV.un) (the "Fund") is pleased to announce the completion of changes approved by unitholders on December 20, 2013 with an effective date of implementation on the close of business day of February 28, 2014.
In accordance with the terms of the declaration of trust, the underlying referenced fund known as O'Leary Convertible Portfolio Trust ceased to exist at the close of February 28, 2014 and the assets contained in the referenced fund were transferred to the top fund formerly known as Yield Advantaged Convertible Debentures Fund.
In addition to the above the Investment Objectives, the Investment Strategies and Investment Restrictions of the Fund were modified to reflect generally the current Investment Objectives, Investment Strategies and Investment Restrictions of the underlying investment fund referred to above as the underlying portfolio trust, in accordance with the resolution by unitholders. The changes were required in part due to tax changes announced by the Federal government in 2013. Lastly, the Fund was renamed to Convertible Debentures Income Fund.
O'Leary Funds Management LP is a Canadian investment fund manager of mutual funds and closed-end funds striving to provide Canadian investors with reliable and strategic income solutions. Based on our value-yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. Our core principles, Income, Capital Appreciation and Capital Preservation, are driven by each portfolios investment objectives. Our portfolios are diversified by sector, region and asset class. For more details about O'Leary Funds, visit www.olearyfunds.com.
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