TORONTO, March 29 /CNW/ - Goodman & Company, Investment Counsel Ltd. ("Goodman & Company"), manager of Dynamic Funds(R) and the diversiFunds(TM) is pleased to announce that the following mergers became effective on March 26, 2010 (the "Merger Date"):
- diversiGlobal(TM) Dividend Value Fund with Dynamic Global Dividend
- diversiTrust(TM) Energy Income Fund with Dynamic Energy Income Fund;
- each of diversiTrust(TM) Income Fund, diversiTrust(TM) Stable Income
Fund, diversiTrust(TM) Income+ Fund and diversiYield(TM) Income Fund
with Dynamic Strategic Yield Fund (together with Dynamic Global
Dividend Value Fund and Dynamic Energy Income Fund, the "Dynamic
The mergers of diversiGlobal Dividend Value Fund with Dynamic Global Dividend Value Fund and each of diversiTrust Income Fund, DiversiTrust Stable Income Fund and diversiYield Income Fund with Dynamic Strategic Yield Fund were approved at special meetings of unitholders held on March 2, 2010. The mergers of diversiTrust Energy Income Fund with Dynamic Energy Income Fund and diversiTrust Income+ Fund with Dynamic Strategic Yield Fund were approved at adjourned special meetings of unitholders held on March 16, 2010.
Each diversiFund transferred all of its assets (other than such assets as were sufficient to satisfy its liabilities) to the applicable Dynamic Fund in exchange for Series A units of the Dynamic Fund. Each diversiFund received Series A units of the applicable Dynamic Fund, the value of which were equal to the net asset value of the diversiFund transferred to the Dynamic Fund, in each case calculated as of the close of business on the Merger Date. All costs and expenses associated with the mergers are borne by Goodman & Company.
The number of Series A units that each diversiFund unitholder will receive of a Dynamic fund are as follows:
diversiFund Number of Dynamic fund
diversiGlobal Dividend Value Fund 0.7436 Dynamic Global Dividend
diversiTrust Energy Income Fund 0.8028 Dynamic Energy Income
diversiTrust Income Fund 0.8350 Dynamic Strategic Yield
diversiTrust Stable Income Fund 0.8224 Dynamic Strategic Yield
diversiTrust Income+ Fund 0.6938 Dynamic Strategic Yield
diversiYield Income Fund 0.6866 Dynamic Strategic Yield
In addition, Goodman & Company announces the following cash distributions payable on April 12, 2010 to unitholders of record on the Merger Date:
Fund Name Distribution per share
diversiTrust Energy Income Fund $ 0.0450
diversiGlobal Dividend Value Fund $ 0.0417
diversiTrust Income Fund $ 0.0850
diversiTrust Stable Income Fund $ 0.0625
diversiTrust Income+ Fund $ 0.0700
diversiYield Income Fund $ 0.0604
About Goodman & Company
Goodman & Company is a leading Canadian asset management company tracing its roots back more than 50 years. Goodman & Company offers a wide range of wealth management solutions through financial advisors. These include the mutual funds, hedge funds and closed-end investment trusts of Dynamic Funds, the portfolio solutions of the Marquis Investment Program, the flow-through limited partnerships of CMP(TM) and Canada Dominion and the high-net worth investment counsel of Goodman Private Wealth Management. Goodman & Company is a wholly owned subsidiary of DundeeWealth Inc. (TSX: DW).
This press release contains forward-looking information. The forward-looking information contained in this press release is not historical information but reflects each diversiFund's current expectations regarding future results or events. The forward looking information is subject to a number of risks, uncertainties and other factors that could influence actual results or events and cause them to differ materially from current expectations, including the ability of each diversiFund to pay the distribution on the date specified. Risk and uncertainties are described under "Risk Factors" in each Fund's prospectus and other documents filed by the diversiFund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the diversiFund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking information contained in this press release represents the diversiFund's estimate as of any date other than the date of this press release and are cautioned not to place undue reliance on such information due to the inherent uncertainty therein. Except where required by under applicable securities legislation, Goodman & Company does not undertake to update any forward looking information.
SOURCE GOODMAN & COMPANY, INVESTMENT COUNSEL LTD.
For further information: For further information: Customer Relations Centre, Goodman & Company, Investment Counsel Ltd., 1-800-268-8186 or www.dynamic.ca; Myra Reisler, Media Relations, (416) 365-5370