CALGARY, Aug. 16 /CNW/ - Brickburn Asset Management Inc. (the "Manager"), the manager of the Brickburn Funds, in consultation with the new sub-advisor for the Brickburn Income Growth Fund (the "Fund"), Vantage Point Investment Management Inc., is pleased to announce that the investment strategy of the Fund has been changed to the following:
"The Portfolio Manager will target a portfolio of approximately 15-20 Canadian equities from companies with predictable and reliable earnings, strong balance sheets, and a history of paying dividends. In general, holdings will be equally-weighted; however, the weight at any time will be a function of each stock's price relative to the stock's target price.
Additionally, from time to time the Fund may be invested in sector-specific exchange-traded or closed-end funds providing diversified exposure to the energy and/or precious metals sectors, high yield exchange traded funds, high yield closed-end funds, preferred shares or corporate debt.
The Fund may invest up to 25% of assets at market value at the time of purchase in foreign (non-Canadian) investments.
In periods of unusual market conditions, a significant portion of the Fund may be held in cash, cash equivalents or fixed income securities."
The Manager believes that this change is in the best interests of the Fund and its shareholders.
In addition to the change of investment strategy above, the minimum amount for initial investment for all Brickburn Funds is being substantially reduced to $1,000, down from $10,000. This change is being made to broaden access to the Dominion Equity Resource Growth Fund, the Brickburn Small Cap Fund and the Brickburn Income Growth Fund, for participation in investment vehicles such as Tax Free Savings Accounts.
SOURCE BRICKBURN FUNDS INC.
For further information: For further information: Mr. William D. Bonner, Chairman, Brickburn Funds Inc., 403-303-4488