Bridgehouse Asset Managers Announces Planned Series Re-Designations Simplifying Fund Line-Up and Introductory Pricing Program for Greystone Global Equity Fund Français
TORONTO, May 15, 2017 /CNW/ - Bridgehouse Asset Managers (Bridgehouse), the retail trade name for Brandes Investment Partners & Co., today announced the planned re-designations of Series K, Series KH, Series L, Series LH, Series M and Series MH securities of all of the mutual funds managed by Bridgehouse offering such series (the Funds). The series re-designations are expected to occur on or about July 7, 2017. Bridgehouse also announced today the launch of the Greystone Global Equity Fund Introductory Pricing Program (the GGEF Pricing Program), which offers early investors in Greystone Global Equity Fund a reduction in management fee and/or operating expenses (Cost).
Series Re-designations Scheduled for Early July 2017
Bridgehouse intends to implement the following series re-designations on or about July 7, 2017, applicable to all of the Funds:
| Series to be Re-designated |
Re-designated Series |
| Series K |
Series A |
| Series KH |
Series AH |
| Series L |
Series A |
| Series LH |
Series AH |
| Series M |
Series F |
| Series MH |
Series FH |
Consistent with the current arrangements applicable to the securities of a series being re-designated, if investors holding securities of a re-designated series maintain an ongoing minimum balance of $100,000 per Fund account, or Financial Group assets of $250,000, Bridgehouse will provide such investors with non-discretionary, irrevocable management fee distributions in order to ensure that there is no aggregate increase in management fees and operating expenses as a result of the applicable series re-designation. These management fee distributions will also be applied to additional securities acquired by such investors by a purchase, switch, or reinvestment of distribution, as long as investors holding the securities of the re-designated series maintain an ongoing minimum balance of $100,000 per Fund account, or Financial Group assets of $250,000. Information with respect to these minimum investment amounts, the criteria that investors must satisfy to be eligible for the current arrangements applicable to the series being re-designated and the definition of Financial Group can be found in the current simplified prospectus of the Funds.
Investors holding securities of a series being re-designated will be provided with a minimum of 21 days written notice prior to the effective date of the series re-designations.
Other expenses and fees will not increase as a result of the series re-designations. All processing, costs and expenses associated with these series re-designations will be paid for by Bridgehouse. Each series re-designation will take place at the respective net asset value per security on the effective date of the re-designation.
In anticipation of these upcoming series re-designations, the series being re-designated will be closed to new purchases as of July 4, 2017.
Greystone Global Equity Fund Introductory Pricing Program
The GGEF Pricing Program offers early investors in the Greystone Global Equity Fund a reduction in the Cost of the applicable series as follows:
| Series of Greystone Global Equity Fund |
Cost (after reduction) |
| Series A |
1.75% |
| Series AH |
1.80% |
| Series K |
1.75% |
| Series KH |
1.80% |
| Series F |
0.75% |
| Series FH |
0.80% |
| Series M |
0.75% |
| Series MH |
0.80% |
The reductions in Cost will be available to all existing securityholders of the applicable series of the Greystone Global Equity Fund, as well as to investors who purchase securities of the applicable series up to and including December 31, 2017 (the Discount Period) (collectively, the Eligible Investors). The reductions in Cost will be applied to additional securities of the Greystone Global Equity Fund acquired by Eligible Investors by purchase, switch, or reinvestment of distribution outside of the Discount Period. The Cost applicable to these series of securities will be reduced by way of a management fee distribution to Eligible Investors.
About Bridgehouse Asset Managers:
Bridgehouse Asset Managers (Bridgehouse), a trade name of Brandes Investment Partners & Co. since 2013, offers time-tested investment solutions to Canadians, leveraging the expertise of world-class investment managers. In everything it does, Bridgehouse is committed to partnering with investment professionals to help Canadians reach their financial goals and become smarter investors. Bridgehouse offers 30 mutual funds featuring a variety of asset classes, styles and objectives to meet individual needs for growth or income. Our investment managers all employ an active management philosophy, with a goal of outperforming benchmarks and peers, and helping investors build long-term wealth in their portfolios. Through one source, investors can access the expertise of five world-class investment managers: Brandes Investment Partners, L.P., Greystone Managed Investments Inc., Lazard Asset Management (Canada) Inc., Sionna Investment Managers Inc. and Morningstar Associates, Inc.
For more about Bridgehouse visit: bridgehousecanada.com and follow us on Twitter and LinkedIn
Brandes Investment Partners & Co., operating as Bridgehouse Asset Managers (Bridgehouse), is the manager of the Bridgehouse Funds. Securities of the Bridgehouse Funds are available through registered dealers only and not available through Bridgehouse. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
This news release is for information purposes only.
SOURCE Bridgehouse Asset Managers
Media Contact: Elizabeth Hoyle, Chief Marketing Officer, Bridgehouse Asset Managers, 416.306.5670, [email protected]
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