TORONTO, Sept. 16 /CNW/ - SHSC Financial Inc. announced today that it will seek the approval of unitholders of the Social Housing Canadian Money Market Fund, in respect of a proposal to merge the assets of Canadian Money Market Fund into the Social Housing Canadian Short-Term Bond Fund.
In the opinion of SHSC Financial the proposal is in the best interests of the unitholders of the Canadian Money Market Fund. To meet regulatory requirements, the merger requires the approval of the Independent Review Committee of the Social Housing Investment Funds (which was granted on August 25, 2009), the Ontario Securities Commission and unitholders of the Fund.
Notice of this unitholder meeting and an information circular will be mailed to applicable unitholders of the Canadian Money Market Fund for a meeting to be held on or about November 16, 2009. If approved, the merger is anticipated to be effective as of November 30, 2009.
SHSC Financial Inc. is a Toronto-based investment fund manager and, together with Phillips, Hager and North Investment Management Ltd., manages approximately $370-million in assets on behalf of mutual funds offered to social housing providers in Ontario.
SOURCE SHSC FINANCIAL INC.
For further information: For further information: Mr. David Millar, SHSC Financial Inc., 390 Bay Street, Suite 710, Toronto, Ontario, M5H 2Y2, Telephone: (416) 594-9325, Ext. 246, Facsimile: (416) 594-9422, Toll Free: 1-866-268-4451, Email: email@example.com