Arrow Capital Management Simplifies Product Lineup
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TORONTO, Jan. 25, 2019 /CNW/ - Arrow Capital Management Inc. ("Arrow") has announced a proposed change to its mutual fund offering. This change aims to simplify its mutual fund lineup, while also delivering the benefit of a management fee reduction for investors. This merger received approval from Arrow's Independent Review Committee (IRC) on January 24, 2019 and investors in the merging fund will be provided 60 days' written notice before the changes take effect on or about March 27, 2019.
Merging Fund (Terminating Fund) |
To be merged into (Continuing Fund) |
Exemplar Tactical Corporate Bond Fund |
Exemplar Investment Grade Fund |
"We continually review our product line-up and make changes that we believe are in the best interests of our investors. This proposed change simplifies our mutual fund offering and provides our clients with a more streamlined platform of high-quality funds," says Mark Purdy, Managing Director & CIO of Arrow Capital.
The merger qualifies as 'pre-approved' merger under securities regulations because it does not involve a substantive change in investment objective or strategy for securityholders of the Merging Fund; the Continuing Fund will have a reduced management fee as compared to the Merging Fund; and the merger will occur on a tax-deferred basis.
Accordingly, as permitted by securities regulations, and as mentioned in the simplified prospectus of the Merging Fund and Continuing Fund, it is not necessary to seek approval from the securityholders of the Merging Fund, as the IRC has approved this merger based on certain conditions being met (including that securityholders receive written notice about the merger at least 60 days in advance).
About Arrow Capital Management Inc.
Arrow is an employee-owned company, founded in 1999. Arrow's expertise in active portfolio management and manager selection is evident in its strong, diverse platform, which provides clients with access to a global selection of actively managed investment funds. Arrow is committed to continuously providing investors with access to a wide range of investment solutions. With nearly 20 years in business, Arrow is well respected as a Canadian alternative investment company.
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the relevant prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.
SOURCE Arrow Capital Management Inc.
Arrow Capital Management Inc., please visit www.arrow-capital.com or contact us at (416) 323-0477 / (877) 327-6048.
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