TORONTO, Sept. 17, 2014 /CNW/ - JovFinancial Solutions Inc.
("JovFinancial"), the manager of Jov Canadian Equity Class (the
"Fund"), announces the proposed merger of the Fund with IA Clarington
Canadian Growth Class. Effective immediately, the Fund is closed to
IA Clarington Canadian Growth Class is managed by IA Clarington
Investments Inc., an affiliate of JovFinancial. The merger is expected
to take effect on or about November 28, 2014.
Investors in the Fund may redeem their shares at any time up to the
close of business on the business day immediately preceding the
effective date of the merger in accordance with the Fund's normal
practices. Investors who hold shares of the Fund on the merger date
will receive shares of Series A of IA Clarington Canadian Growth Class
on a dollar for dollar basis. After the merger, shareholders of the
Fund will be able to redeem their shares of IA Clarington Canadian
Growth Class without paying a redemption fee.
Investors in the Fund will benefit from significantly lower MERs in the
IA Clarington Canadian Growth Class, and will also benefit from the
ability to switch to other funds in the IA Clarington corporate
structure without triggering a taxable disposition.
Notice of the merger will be provided to securityholders of the Fund at
least 60 days prior to the effective date of the merger.
About JovFinancial Solutions Inc.
JovFinancial is an investment fund manager and member of the Industrial
Alliance group of companies. JovFinancial manages approximately $238
million of client assets.
SOURCE: JovFinancial Solutions Inc.
For further information:
Senior Director, Media Relations
(416) 815-0700 ext. 266