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
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:
Vice President, Legal
McLean Budden Limited