McLean Budden Announces Changes to its Mutual Funds Line-Up

TORONTO, Feb. 25 /CNW/ - McLean Budden Limited ("McLean Budden") announced today proposed changes to the investment objectives and certain related changes to the McLean Budden Canadian Equity Fund, McLean Budden High Income Equity Fund, McLean Budden American Equity Fund and McLean Budden Global Equity Fund.  Subject to obtaining the requisite unitholder approval, it is anticipated that these changes will be effective on or about April 4, 2011.

The goal of these changes is to simplify the description of the investment objectives of each fund in an effort to provide more consistency in their description across the family of McLean Budden Mutual Funds.  These changes will not result in any changes to the classification of these funds under the categories as determined by the Canadian Investment Funds Standards Committee.

McLean Budden Canadian Equity Fund

The proposed change to the fund's investment objective will affirm the objective to invest primarily in a diversified portfolio of Canadian equities, with flexibility to also invest in non-Canadian securities.

McLean Budden High Income Equity Fund

It is proposed that the fund's investment objectives be re-worded to emphasize the focus on dividend-paying or income-paying securities. It is also proposed that the name of the fund be changed to the "McLean Budden Dividend Income Fund".

McLean Budden American Equity Fund

It is proposed that the investment objectives for the fund be clarified to permit investment in U.S. domiciled companies or in companies with a primary stock exchange listing in the United States.  This change is proposed in light of some formerly U.S. domiciled companies' choices to domicile in non-U.S. jurisdictions.

McLean Budden Global Equity Fund

It is proposed that the fund's investment objective be changed to refer to investment in "global equity securities" rather than "non-Canadian equity securities".

Changes to the investment objectives for a mutual fund require unitholder approval.  A meeting of unitholders of these funds will be held on or about March 31, 2011 to vote on the proposed changes to the investment objectives of these funds.  If unitholders approve the change to the investment objectives for a fund, the investment strategies of such fund will also change to reflect the new objectives, effective on or about April 4, 2011.  Further information regarding the proposed changes will be mailed to unitholders on or about March 7, 2011 and will be available on McLean Budden's website at www.mcleanbudden.com.

About McLean Budden

Founded in 1947, McLean Budden is one of Canada's oldest and most respected investment firms with offices in Toronto, Montréal, Vancouver, Chicago and the United Kingdom. The firm actively manages over $35 billion in pension, foundation, mutual fund assets and private wealth on behalf of institutional and private clients across North America, Europe and Asia. The firm's investment philosophy is based on long-term, balanced strategies. Now in its fourth generation of management, McLean Budden's experience and success in succession planning provides the assurance of consistent investment style, service and performance. McLean Budden has approximately 110 employees, including 46 portfolio managers and research analysts.  Investment professionals at McLean Budden own approximately 33.5 per cent of the firm and retain day-to-day control of operations. Sun Life Financial, a leading international financial services organization with operations in key markets worldwide, holds a majority interest.  Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.


SOURCE McLean Budden Limited

For further information:

Scott Mahaffy
Vice President, Legal
McLean Budden Limited
(416) 350-4723

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McLean Budden Limited

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