TORONTO, June 21, 2013 /CNW/ - Connor, Clark & Lunn Private Capital Ltd.
today announced plans to terminate CC&L Growth Portfolio ("The
Portfolio") on or around August 21, 2013. Effective immediately, the
Portfolio is closed to new purchases.
CC&L Private Capital is focused on ensuring that our investment
solutions meet the needs of financial advisors and their clients.
Unfortunately, the Portfolio has not been able to achieve economies of
scale for the ordinary operating expenses that are indirectly borne by
each unitholder. CC&L Private Capital is taking steps to ensure that
all unitholders are treated fairly as a result of this announcement.
Unitholders may redeem units of the Portfolio at any time prior to
termination or switch them into another investment solution. On
termination, CC&L Private Capital will redeem all of the outstanding
units of the Portfolio and remit an amount in cash equal to the
remaining net assets to those remaining unitholders. No redemption fees
or charges will be applied to unitholders by CC&L Private Capital upon
redemption of their units at or before the termination of the
Portfolio. Information pertaining to the termination of the Portfolio
has been sent to all unitholders and we encourage each investor to
consult with their financial advisor to discuss their options.
Connor, Clark & Lunn Private Capital is an investment counselling firm
that provides traditional and alternative investment solutions to high
net worth individuals, foundations and endowments, first nations and
trusts. With offices in Vancouver, Edmonton, Calgary, Regina, Toronto,
Ottawa, Montreal and Halifax, the firm has over 30 investment
professionals and manages over $3 billion in assets. CC&L Private
Capital is a part of Connor, Clark & Lunn Financial Group.
Connor, Clark & Lunn Financial Group is a multi-boutique asset
management company that provides a broad range of investment products
and services to institutional, high net worth and retail investors.
With offices in Vancouver, Edmonton, Calgary, Regina, Toronto, Ottawa,
Montreal, Halifax and London (England), CC&L Financial Group and its
affiliates are collectively responsible for the management of over $46
billion in assets.
SOURCE: Connor, Clark & Lunn Private Capital Ltd.