Dynamic Funds Withdraws Certain Proposed Fund Mergers and Introduces Other Price Reductions

TORONTO, June 2, 2017 /CNW/ - 1832 Asset Management L.P. (the "Manager"), as manager of the Dynamic Funds, has chosen to withdraw certain previously announced fund merger proposals:

Terminating Fund


Continuing Fund

Dynamic Corporate Bond Strategies Class

to merge into

Dynamic Advantage Bond Class

Dynamic Corporate Bond Strategies Fund

to merge into

Dynamic Advantage Bond Fund

DMP Power Global Growth Class

to merge into

Dynamic Power Global Growth Class

DMP Resource Class

to merge into

Dynamic Strategic Resource Class

DMP Value Balanced Class

to merge into

Dynamic Value Balanced Class

 

As a result, the special meetings of securityholders of these affected Terminating Funds, originally scheduled for June 9, 2017 in Toronto, will be cancelled and these proposed mergers will not proceed.  These Funds will resume normal business activity subject to the following changes:

  • For Dynamic Corporate Bond Strategies Fund, the Series A and H management fee will be reduced to 1.40% and its fixed administration fee will be reduced to 0.15%, effective June 2, 2017.
  • For Dynamic Corporate Bond Strategies Class, the Series A, E, H, and T management fee will be lowered to 1.40%, while the Series A, H, and T fixed administration fee will be lowered to 0.15%, effective June 2, 2017.
  • For DMP Power Global Growth Class, DMP Resource Class, and DMP Value Balanced Class, all series will be capped to new investments, effective September 29, 2017.
  • For DMP Resource Class, its performance fee has been eliminated, including any current payable performance fees for the year, effective immediately.

The Manager intends to explore options to wind down, in an orderly fashion, DMP Power Global Growth Class, DMP Resource Class, and DMP Value Balanced Class by the end of 2019 in order to provide current investors with the opportunity to consider applicable tax planning considerations with their advisor.

The Manager will also be implementing the following fee reductions effective June 2, 2017:

  • For Dynamic Aurion Total Return Bond Class, the Series E management fee has been lowered to 1.40%.
  • For Dynamic Global Asset Allocation Class, the Series E fixed administration fee has been lowered to 0.14%.
  • For Dynamic Global Dividend Class, the Series E fixed administration fee has been lowered to 0.08%.

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, 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.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in the funds. Please read the prospectus before investing. Investments in the funds are not guaranteed; their values change frequently and past performance may not be repeated.

SOURCE Dynamic Funds

For further information: please contact: Customer Relations Centre, 1-800-268-8186, www.dynamic.ca; For media enquiries only: Rick Roth, Global Communications, Scotiabank, Rick.Roth@scotiabank.com


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