Bridgehouse Asset Managers Announces Proposed Changes to its Investment Fund Lineup

TORONTO, Dec. 6, 2016 /CNW/ - Bridgehouse Asset Managers (Bridgehouse), the retail trade name for Brandes Investment Partners & Co., today announced a proposal to merge the following corporate class funds (the "Terminating Funds") into their corresponding trust funds (the "Continuing Funds"), subject to obtaining all necessary securityholder and regulatory approvals.

Terminating Funds

Continuing Funds

Brandes Global Equity Class

Brandes Global Equity Fund

Sionna Canadian Equity Private Pool

Sionna Canadian Equity Fund

Greystone Canadian Equity Income & Growth Class

Greystone Canadian Equity Income & Growth Fund

 

Bridgehouse has decided to implement these proposed mergers after evaluating the changes outlined in the 2016 Federal Budget that eliminated the tax deferral features. The budget changes eliminated deferral of capital gains tax for investors switching between different classes of shares within a mutual fund corporation.

Approval from securityholders of the Terminating Funds will be sought at special meetings to be held on or about February 17, 2017. In advance of the meetings, full details of the proposed mergers will be set out in a notice of meetings and management information circular that will be made available in January 2017 to securityholders of record as at January 3, 2017. The notice of meetings and management information circular will also be available on SEDAR at www.sedar.com.

If the proposed mergers are approved, the mergers are expected to be implemented on or about February 24, 2017. Securityholders of each series of each Terminating Fund will receive securities of the equivalent series of the Continuing Fund. The Terminating Funds will be wound up as soon as possible following the mergers. The Independent Review Committee of the funds listed above has reviewed the potential conflict of interest matters related to the proposed mergers and has provided Bridgehouse, the manager of the funds, with a positive recommendation for each merger after determining that each merger, if implemented, achieves a fair and reasonable result for the applicable funds.

In anticipation of the proposed mergers, the Terminating Funds will be closed to new purchases, excluding pre-authorized debit plan purchases, effective as of close of business on December 7, 2016.

About Bridgehouse Asset Managers:
Bridgehouse Asset Managers (Bridgehouse), a trade name of Brandes Investment Partners & Co. since 2013, is an independent platform with five investment managers with institutional roots: Brandes Investment Partners, L.P., Greystone Managed Investments Inc., Lazard Asset Management (Canada) Inc., Sionna Investment Managers Inc. and Morningstar Associates, Inc.

For more about Bridgehouse visit: bridgehousecanada.com and follow us on Twitter and LinkedIn.

Brandes Investment Partners & Co. is the manager of the Bridgehouse Funds. Securities of the Bridgehouse Funds are available through registered dealers only and not available through Bridgehouse. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. 

This news release is for information purposes only.

SOURCE Bridgehouse Asset Managers

For further information: Media Contact, Elizabeth Hoyle, Chief Marketing Officer, Bridgehouse Asset Managers, 416.306.5670, elizabeth.hoyle@bridgehousecanada.com

RELATED LINKS
http://bridgehousecanada.com

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