MONTREAL, Oct. 1 /CNW Telbec/ - Gestion FÉRIQUE, Manager of the FÉRIQUE Funds, today announced changes to the portfolio advisers lineup of the FÉRIQUE BALANCED Fund.
Effective on or about October 7, 2009, the FÉRIQUE BALANCED Fund will invest equal portions of its portfolio formerly invested in Canadian equity assets, which represents approximately 30% of the total assets of the FÉRIQUE BALANCED Fund, directly in units of the FÉRIQUE EQUITY Fund and the newly established FÉRIQUE DIVIDEND Fund.
As a result, Gestion FÉRIQUE announced the termination of Foyston, Gordon & Payne and MFC Global Investment Management as portfolio advisers to the FÉRIQUE BALANCED Fund with respect to the Canadian equity mandate. The termination takes effect on October 7, 2009.
"We believe this is a positive change for our investors", said Fabienne Lacoste, Executive Director of Gestion FÉRIQUE. "We view this new lineup as a more effective way to manage Canadian equities within the Fund, and we further improve our management fee structure by reducing the number of portfolio advisers", added Mrs. Lacoste.
In addition to such changes, amendments and other ancillary changes to the FÉRIQUE BALANCED Fund and to the other FÉRIQUE Funds will be made as a result of the establishment of two new FÉRIQUE Funds, the FÉRIQUE DIVIDEND Fund and the FÉRIQUE MODERATE BALANCED Fund, both established on October 1, 2009. The new Funds will be available for investment on October 8, 2009.
Amendments to the Simplified Prospectus and Annual Information Form of the FÉRIQUE Funds dated June 19, 2009 will be filed on or about October 1, 2009 with the applicable securities regulatory authorities reflecting the changes described above.
About Gestion FÉRIQUE
Founded on January 1, 2000, Gestion FÉRIQUE (www.ferique.com) manages the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers and their families. The firm offers ten mutual funds diversified across all asset classes. Management of the funds is entrusted to renowned investment firms which are hand-picked by Gestion FÉRIQUE, based on their superior asset class expertise. FÉRIQUE Funds have more than $1.3 billion in assets under management and nearly 23,000 clients.
SOURCE FERIQUE FUNDS
For further information: For further information: Manon Duhamel, Director, Marketing and communications, Gestion FÉRIQUE, (514) 840-9206, ext. 3229, firstname.lastname@example.org