NexGen Financial Limited Partnership Announces Fund Changes

TORONTO, Sept. 7, 2012 /CNW/ - NexGen Financial Limited Partnership ("NexGen") is pleased to announce the following proposed changes to five of the NexGen fund mandates:

Fund Mergers and Changes in Portfolio Management

(a) Canadian Growth and Income Mandate

  • NexGen Canadian Growth and Income Registered Fund ("CG&IR") will merge into NexGen Turtle Canadian Balanced Registered Fund

  • NexGen Canadian Growth and Income Tax Managed Fund ("CG&ITM") will merge into NexGen Turtle Canadian Balanced Tax Managed Fund

(b) Canadian Growth Mandate

  • NexGen Canadian Growth Registered Fund ("CGR") will merge into the NexGen Turtle Canadian Equity Registered Fund

  • NexGen Canadian Growth Tax Managed Fund ("CGTM") will merge into the NexGen Turtle Canadian Equity Tax Managed Fund

    (the "Notice Mergers")

Each of the Notice Mergers will result in a change in the sub-advisor for security holders of CG&IR, CG&ITM, CGR and CGTM from Selective Asset Management Inc. to Rondeau Capital Inc. of which Keith Graham is the principal.  The Notice Merger relating to the Canadian Growth and Income Registered and Tax Managed Funds will not result in a change to the fixed income sub-advisor, J. Zechner & Associates Inc.

The Notice Mergers will be effective on November 30, 2012 and security holders of CG&IR, CG&ITM, CGR and CGTM will be provided with a notice from NexGen providing the details of such Notice Mergers on or prior to September 30, 2012.

(c) Canadian Large Cap Mandate

  • NexGen Canadian Large Cap Registered Fund ("CLCR") will merge into NexGen Canadian Dividend and Income Registered Fund

  • NexGen Canadian Large Cap Tax Managed Fund ("CLCTM") will merge into NexGen Canadian Dividend and Income Tax Managed Fund.

    (the "Meeting Mergers")

Each of the Meeting Mergers, if approved, will result in a change in the investment objective for security holders of CLCR and CLCTM. If the Meeting Mergers are not approved, the investment objective of these Funds will not change.

The Meeting Mergers will be effective on or about November 30, 2012, subject to all requisite security holder and regulatory approvals.  Security holders of CLCR and CLCTM will be provided with an information circular providing details of the Meeting Mergers on or prior to September 30, 2012.  A meeting of security holders of CLCR and CLCTM to approve the Meeting Mergers will be held on or about November 20, 2012.

Changes in Portfolio Management

(d) Canadian Dividend and Income and North American Small/Mid Cap Mandates

NexGen Canadian Dividend and Income Registered and Tax Managed Funds and NexGen North American Small/Mid Cap Registered and Tax Managed Funds - Effective  November 30, 2012, NexGen will assume sole portfolio management of each of the Funds from Selective Asset Management Inc., the current sub-advisor to these Funds.  Jeff Young, NexGen Chief Investment Officer, will be lead manager on both mandates.

"These changes will result in NexGen's fund line-up being reduced from 16 mandates to 13 mandates and result in larger average fund size and potential increased economies of scale," said Laurie Munro, President of NexGen.

About NexGen

NexGen Financial Limited Partnership is a mutual fund company and was founded to develop value added investment solutions for financial advisors and their clients. The firm is focused on the creation of innovative investment products and services that meet the needs of Canadians seeking more tax efficient investment opportunities and greater control over the tax treatment of their investments. Managed by strong investment professionals, NexGen's unique Registered and Tax-Managed Fund offerings are well positioned as attractive investment opportunities for Canadians looking to alleviate the tax costs associated with traditional investment solutions.

SOURCE: Nexgen Financial Limited Partnership

For further information:

Laurie Munro, President and CEO at 416 775 3705 or lmunro@nexgenfinancial.ca

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Nexgen Financial Limited Partnership

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