TORONTO, April 9, 2020 /CNW/ - Dynamic Funds today announced an upcoming unit consolidation for Dynamic Energy Income Fund, effective on or about May 8, 2020. At this time, units of each series of the Fund will be consolidated on a 5:1 ratio. Unitholders of the Fund on the effective date will be entitled to receive one consolidated unit of the Fund for every five units of the Fund they own on that date.
To facilitate an orderly unit consolidation the Fund will be closed to purchase orders for the two days before the effective date. Redemptions will continue to be permitted but only via direct orders during this time.
When the unit consolidation occurs, the net asset value per unit of each series of the Fund will increase by the consolidation ratio so that the unit consolidation has no impact on the value of the unitholder's investment in the Fund. Each unitholder's cost per unit will be increased by the same consolidation ratio, although their total cost will remain unchanged.
There is no change to the investment objective or strategies of this fund. Unitholders do not need to take any action in connection with the unit consolidation. If unitholders have any questions regarding the impact of the unit consolidation, they should contact Dynamic Funds' Customer Relations Centre at 1-800-268-8186.
Commissions trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, their values change frequently and past performance may not be repeated.
About Dynamic Funds Dynamic Funds is a division of 1832 Asset Management L.P., which offers a range of wealth management solutions, including mutual funds, actively managed ETFs, investment solutions for private clients, institutional clients and managed asset programs. 1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by Scotiabank. ® Dynamic Funds is a registered trademark of its owner, used under license.
For further information: Customer Relations Centre, 1-800-268-8186; For media enquiries, please contact: Alex Mathias, Global Wealth Management Communications, Scotiabank, [email protected], 416-448-7044