TORONTO, Aug. 14 /CNW/ - JovFunds Management Inc. ("JovFunds"), the
manager and trustee of Deans Knight Income and Growth Fund (the "Fund"),
announces that, effective immediately, it is temporarily suspending the
redemption of units of the Fund for a period of up to 120 days (the
"Suspension Period") as contemplated in the offering documents of the Fund.
This suspension follows careful consideration by JovFunds and Deans
Knight Capital Management Ltd. ("Deans Knight"), the sub-advisor to the Fund,
regarding the best interests of all unitholders, the Fund's current liquidity
situation and its pending annual redemption. Deans Knight is in the process of
rebalancing the portfolio by liquidating certain debt instruments, which is
expected to occur during the Suspension Period. However, since there is no
certainty of such liquidation before the pending annual redemption date, the
decision to suspend redemptions was a necessary one to allow the Fund time to
achieve the liquidity that may be required to meet potential redemption
Unitholders may still submit requests for redemption during the
Suspension Period which will be held until the suspension of redemptions is
About JovFunds Management Inc. (www.jovfunds.com)
JovFunds provides innovative investment solutions for Canadians through
the creation, distribution and management of high quality investment products.
JovFunds manages and distributes in excess of $3.1 billion in client assets
and is wholly owned by Jovian Capital Corporation.
For further information:
For further information: Steven Hawkins, Managing Partner, JovFunds
Management Inc., (416) 601-2442