TORONTO, Feb. 14, 2012 /CNW/ - Fidelity Capital Funding Canada Limited (the "General Partner"), the general partner of Fidelity Partnership 1996 (the "Partnership"), announces the dissolution of the Partnership effective on or before March 31, 2012. It had been previously announced that the Partnership had formally ceased operations on December 31, 2011 and would formally dissolve shortly afterwards, in accordance with its Partnership Agreement.
The board of directors of the General Partner passed a resolution to dissolve the partnership on or before March 31, 2012 pursuant to the provisions of the Partnership Agreement.
The final distribution was paid to the limited partners on January 17, 2012. The General Partner will act as receiver and liquidator of the assets of the Partnership and shall dispose of its assets as the General Partner considers appropriate to provide for the debts, liabilities and liquidation expenses of the Partnership. Out of the Partnership's proceeds of disposition, the General Partner will pay or provide for the payment of the debts and liabilities of the Partnership and liquidation expenses. There will be no remaining assets in the Partnership after settlement of all liabilities and there will be no further distributions to the limited partners. The General Partner will then dissolve the Partnership.
Fidelity's mutual funds are different and separate from the Partnership and are therefore not at all affected by this event.
About Fidelity Investments
Fidelity Investments Canada ULC is part of the Fidelity Investments organization of Boston, one of the world's largest providers of financial services. In Canada, Fidelity manages a total of $65 billion in mutual fund and institutional assets. This includes $13 billion in assets for institutional clients including public and corporate defined benefit pension plans, endowments, foundations and other corporate assets on behalf of clients across Canada.
Fidelity Canada provides Canadian investors a full range of domestic, international and income oriented mutual funds. Investors can also access Fidelity's expertise through asset allocation, managed and fixed income solutions as well as its high net-worth program, the Fidelity Private Investment Program. Fidelity funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks, and insurance companies. Fidelity is a proud supporter of the Boys and Girls Clubs of Canada and we are dedicated to helping young Canadians realize their full potential as productive, responsible and caring citizens.
For further information:
Fidelity Client Services