NexGen Financial Limited Partnership announces fund mergers

TORONTO, July 3, 2013 /CNW/ - NexGen Financial Limited Partnership ("NexGen") is pleased to announce the following proposed changes to two NexGen fund mandates:

Fund Mergers and Changes in Portfolio Management

(a) Global Value Mandate

  • NexGen Global Value Registered Fund ("GVR") will merge into NexGen Canadian Balanced Growth Registered Fund ("Balanced Registered"), an open-end fund managed by NexGen
  • NexGen Global Value Tax Managed Fund ("GVTM") will merge into NexGen Canadian Balanced Growth Tax Managed Fund ("Balanced Tax Managed"), an open-end fund managed by NexGen

(b) Global Resource Mandate

  • NexGen Global Resource Registered Fund ("GRR") will merge into the Balanced Registered
  • NexGen Global Resource Tax Managed Fund ("GRTM") will merge into Balanced Tax Managed

    (collectively the "Mergers")

J. Zechner Associates Inc. acts as the sub-advisor of Balanced Registered and Balanced Tax Managed and, accordingly, the Mergers will result in an effective change in the portfolio management of GVR, GVTM, GRR and GRTM.  Jonathan Baird, a Vice-President of NexGen and NexGen Financial Corporation, will no longer be an officer of these entities as at the Merger date.

Each of the Mergers, if approved, will result in a change in the investment objective and strategies for securityholders of GVR, GVTM, GRR and GRTM.  If the Mergers are not approved, the investment objective and strategies of these Funds will not change.

The Mergers will be effective on or about August 9, 2013, subject to all requisite security holder and regulatory approvals.  Security holders of GVR, GVTM, GRR and GRTM will be provided with an information circular providing details of the Mergers on or about July 5, 2013.  A meeting of security holders of those Funds to approve the Mergers will be held on or about July 30, 2013.

"These fund mergers, if approved, have an increased possibility of achieving economies of scale for fund shareholders as well as a more efficient product line-up for shareholders of NexGen Financial Corporation" 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.

Forward Looking Statements

This release may contain "forward-looking statements" which reflect the current expectations of the Company. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements including, without limitation, those listed under the heading "Risk Factors" in the Company's Management Discussion and Analysis, which is available on the Company's website and on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this release. Although the forward-looking statements contained in this release are based upon what the Company believes to be reasonable assumptions, the Company cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

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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