Fairway Diversified Income and Growth Trust (FDT.UN), Deans Knight Income and Growth Fund (DKI.UN), Long Reserve Life Resource Fund (LRF.UN) and Charterhouse Preferred Share Index Corporation (PFD.PR.A), Announce Special Shareholder/Unitholder Meetings



    TORONTO, Sept. 22 /CNW/ - JovFunds Management Inc. ("JovFunds"), the
manager of Fairway Diversified Income and Growth Trust ("Fairway
Diversified"), Deans Knight Income and Growth Fund ("Deans Knight"), Long
Reserve Life Resource Fund ("Long Reserve") (individually, a "Fund", and
collectively, the "Funds") and Charterhouse Preferred Share Index Corporation
("Charterhouse"), and trustee of each of the Funds, announces that, further to
the Press Release of September 12, 2008, the special meetings of the preferred
shareholders of Charterhouse and unitholders of the Funds that will occur on
October 20, 2008, are being held to consider the following proposals:

    
    1. Authority to Replace the Trustee with an Affiliate of the Trustee:

    Unitholders of each of the Funds will be asked to consider passing an
extraordinary resolution approving an amendment to the declaration of trust of
each of the Funds that will permit the trustee to be replaced with an
affiliate of the trustee without additional unitholder approval.

    2. Reduction in Quorum Size of the Funds:

    Unitholders of each of the Funds will be asked to consider passing an
extraordinary resolution approving an amendment to the declaration of trust of
each of the Funds that will reduce the percentage of outstanding units of a
Fund required to be submitted by unitholders in order to make quorum for any
unitholder meeting.

    3. Eliminate the Termination Date for Deans Knight and Fairway
       Diversified:

    Unitholders of each of Deans Knight and Fairway Diversified will be asked
to consider passing an extraordinary resolution approving an amendment to the
declarations of trust of each of these Funds to remove the fixed termination
date. If approved, neither Deans Knight nor Fairway Diversified will have
fixed durations.

    4. Authority to Convert Charterhouse to an Open-Ended Mutual Fund Trust:

    Preferred shareholders of Charterhouse will be asked to consider passing a
special resolution to merge Charterhouse into a newly formed open-ended mutual
fund trust (the "Trust"). The proposal includes an amendment to the articles
of incorporation of Charterhouse to permit Charterhouse to suspend the
retraction of preferred shares or payment of retraction proceeds if that
merger is approved and to allow Charterhouse to redeem all outstanding
preferred shares in exchange for units of the Trust as part of the merger of
Charterhouse into the Trust.

    5. Authority to Suspend the Retraction of Preferred Shares

    Preferred shareholders of Charterhouse will be asked to consider passing a
special resolution to amend the articles of incorporation of Charterhouse to
permit it to suspend the annual retraction of preferred shares or payment of
retraction proceeds if, prior to the scheduled annual redemption date, the
board of directors elects to redeem all outstanding preferred shares of
Charterhouse in connection with the orderly liquidation of Charterhouse.

    6. Authority to Amend the Declaration of Trust of Long Reserve in the
       Event that Long Reserve is Converted to an Open-Ended Mutual Fund
    

    Unitholders of Long Reserve will be asked to consider passing an
extraordinary resolution approving amendments to Long Reserve's declaration of
trust so that if Long Reserve is converted into an open-ended mutual fund (the
"Converted Fund"): (a) the management fees payable by the Converted Fund will
increase; (b) a performance fee payable by the Converted Fund will be added;
(c) the definition of "Resource Issuer" will be amended to include issuers in
the agribusiness sector; (d) the investment strategy of the Converted Fund
will be amended; (e) the investment restrictions and permitted investments of
the Converted Fund will be amended; and (f) the trustee of the Converted Fund
may be replaced with an affiliate of the trustee without additional unitholder
approval.

    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 $2.5 billion in client assets
and is wholly owned by Jovian Capital Corporation.

    About Jovian Capital Corporation (www.joviancapital.com)

    Jovian acquires, creates and grows financial services companies
specializing in wealth and asset management. The Jovian group of companies
(MGI Securities Inc., MGI Securities (USA) Inc., Rice Financial Group Inc.,
BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc.,
JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc.,
T.E. Wealth and Felcom Data Services Inc.) manages $15.0 billion of client
assets ($6.0 billion in assets under management and $9.0 billion in assets
under administration). Additional information is available at
www.joviancapital.com and www.sedar.com.





For further information:

For further information: Steven Hawkins, Managing Partner, JovFunds
Management Inc., (416) 601-2442; or Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744

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JOVFUNDS MANAGEMENT INC.

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Jovian Capital Corporation

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