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.