MONTRÉAL, Nov. 28, 2014 /CNW Telbec/ - Gestion FÉRIQUE, as the manager of FÉRIQUE Funds, announced the results of today's special meeting of unitholders of FÉRIQUE World Fund (the "Fund").
Investors in the Fund approved a previously announced resolution to change the Fund's investment objectives as follows: "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."
As a result of this change, the Fund will be renamed FÉRIQUE World Dividend Fund, and will be managed by Wellington Management Company, LLP, thereby replacing the current portfolio manager MFS Investment Management Canada Limited. The Fund's investment strategy will also be changed to reflect the new investment objectives.
These changes, which will be implemented on or about December 1, 2014, are expected to generate increased revenues and to differentiate the Fund, in terms of its investment strategy, from other foreign equity funds offered by Gestion FÉRIQUE.
The Fund's management expense ratio (MER) is 1.10% which compares favourably to the median MER of similar funds in Canada established at 2,49% (according to PALTrak Survey, owned by Morningstar Research Inc. as of October 31, 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
For further information: Manon Duhamel, B.B.A., Senior Director, Marketing and Communications, Gestion FÉRIQUE, T. 514 840-9206, ext. 450, email@example.com