MONTREAL, Oct. 23, 2014 /CNW Telbec/ - As the manager of the FÉRIQUE Funds (Fonds d'épargne et de retraite des ingénieurs du Québec), Gestion FÉRIQUE today announced proposed changes to certain FÉRIQUE Funds.
Proposed change to the investment objectives of the FÉRIQUE World Fund
Gestion FÉRIQUE announces that it will be seeking the approval of unitholders of the FÉRIQUE World Fund (the "World Fund"), at a special meeting scheduled to be held on November 28, 2014 (the "Special Meeting"), in connection with the proposed change to the Fund's investment objectives.
If the proposed change is approved, the World Fund's investment objectives will be changed to the following: "The FÉRIQUE World Fund seeks to provide income and long-term capital growth. The Fund mainly invests in dividend-paying stocks and other classes and categories of securities of companies throughout the world."
The proposed change to the investment objectives of the World Fund is expected to generate increased revenues and to differentiate the World Fund, in terms of its strategies, from other Gestion FÉRIQUE Funds investing in global equity securities.
If the proposed change to the investment objectives is approved by unitholders of the World Fund, the name of the World Fund will be changed from FÉRIQUE World Fund to FÉRIQUE World Dividend Fund. In order to implement the proposed change to the World Fund's investment objectives, Gestion FÉRIQUE will change the portfolio manager of the World Fund by appointing Wellington Management Company, LLP, thereby replacing the current portfolio manager, MFS Investment Management Canada Limited. The World Fund's investment strategies will also be changed. The changes described in this paragraph shall only be implemented if the unitholders of the World Fund approve the change to the World Fund's investment objectives.
Implementation of the proposed changes is anticipated to take place on or about December 1, 2014.
Further details on the proposed changes can be found in the notice of meeting and accompanying information circular to be mailed on or about October 31, 2014 to unitholders of the World Fund in connection with the Special Meeting.
Gestion FÉRIQUE's appointment as portfolio manager
Furthermore, Gestion FÉRIQUE announces that it will assume portfolio management duties in relation to the FÉRIQUE Balanced, Moderate Balanced and Balanced Growth Funds (the "Funds of Funds"), effective December 1, 2014.
As a result of such appointment, the current portfolio managers of the money market mandate of these Funds of Funds, namely Addenda Capital Inc. for the FÉRIQUE Balanced Fund and Baker Gilmore & Associates Inc. for the FÉRIQUE Moderate Balanced and Balanced Growth Funds, will continue to act as sub-portfolio managers, respectively, effective December 1, 2014.
About Gestion FÉRIQUE
Founded on October 12, 1999, Gestion FÉRIQUE (www.ferique.com) is the manager of FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers, engineering graduates and their families. The firm offers 11 mutual funds diversified across all asset classes. Management of the Funds is entrusted to renowned investment firms, handpicked by Gestion FÉRIQUE based on their asset class expertise. FÉRIQUE Funds have more than $2 billion in assets under management and approximately 22,000 clients.
SOURCE: Gestion FÉRIQUE
Manon Duhamel,Senior Director, Marketing and Communications, Gestion FÉRIQUE, T. 514 840-9206, ext. 450, [email protected]
Share this article