Leith Wheeler Investment Counsel Ltd. Announces Proposed Changes to Investment Objectives of Certain Funds

VANCOUVER, BC, April 4, 2023 /CNW/ - Leith Wheeler Investment Counsel Ltd. ("Leith Wheeler") announced today its proposal to change the investment objectives of the Leith Wheeler Canadian Equity Fund, Leith Wheeler Core Bond Fund, Leith Wheeler Money Market Fund, Leith Wheeler U.S. Equity Fund, Leith Wheeler Balanced Fund and Leith Wheeler International Equity Plus Fund (the "Funds").  Leith Wheeler will seek the approval of unitholders of the Funds for the proposed investment objective changes at special meetings to be held on May 17, 2023 (the "Meeting"). If all necessary approvals are obtained, including unitholder approval, the changes to the investment objectives will become effective on or about May 24, 2023. The proposed investment objective changes are as follows:

Fund	Current Investment Objective	Proposed Investment Objective
Leith Wheeler Canadian Equity Fund	To provide superior long-term investment returns by investing primarily in a diversified portfolio of common shares and other equity related securities of Canadian issuers. The Fund is not restricted by capitalization or industry sector, although portfolio diversification is a consideration in the selection of securities for the Fund. Under normal circumstances, the Fund will keep its portfolio fully invested, to the greatest extent possible, in Canadian equity and equity related securities.	The Fund seeks to provide above-average long-term investment returns by investing primarily in a diversified portfolio of common shares and other equity-related securities issued by Canadian companies.
Leith Wheeler Core Bond Fund	To provide a stable and attractive total return through investment in fixed income securities. The total return on the Fund is derived from the income received from the securities in the Fund's portfolio, while taking into account realized and unrealized gains and losses from fluctuations in the prices of the securities in the portfolio.	The Fund seeks to provide a stable and attractive total return by investing in fixed income securities.
Leith Wheeler Money Market Fund	To provide investors with an improved rate of return for short term investments, while preserving the value of their investment.	The Fund seeks to provide income and capital preservation by investing primarily in securities issued by Canadian governments and corporations with maturities up to one year.
Leith Wheeler U.S. Equity Fund	To provide superior long-term investment returns by investing in equity securities trading on the major markets in the United States. The Fund primarily invests in a broad range of U.S. companies and is not restricted by capitalization or industry sector, although portfolio diversification is a consideration in the selection of securities for the Fund. Under normal circumstances, the Fund will keep its portfolio fully invested, to the greatest extent possible, in U.S. equity and equity related securities.	The Fund seeks to provide above-average long-term investment returns by investing primarily in equity and equity-related securities issued by U.S. companies.
Leith Wheeler Balanced Fund	To provide investors with a relatively stable, superior long–term rate of return, through a balanced portfolio of common shares and fixed income securities.	The Fund seeks to provide a relatively stable, above-average long–term rate of return, through a balanced portfolio of equities and fixed income securities.
Leith Wheeler International Equity Plus Fund	To provide superior long-term investment returns by investing in equity securities trading on international markets. There may be limited exposure to emerging and North American markets. The Fund primarily invests in a broad range of international companies and is not restricted by capitalization or industry sector, although portfolio diversification is a consideration in the selection of securities for the Fund. Under normal circumstances, the Fund will keep its portfolio fully invested, to the greatest extent possible, in equity and equity related securities.	The Fund seeks to provide above-average long term investment returns by primarily investing in equity and equity-related securities issued by companies in international markets, including developed, emerging and frontier markets generally outside of North America.

In addition, Leith Wheeler intends to make certain changes to the investment strategies of the Leith Wheeler Canadian Equity Fund, Leith Wheeler Core Bond Fund, Leith Wheeler U.S. Equity Fund, Leith Wheeler Balanced Fund and Leith Wheeler International Equity Plus Fund, which will also become effective on or about May 24, 2023, subject to the approval of the proposed investment objective changes.

In advance of the Meeting, a notice-and-access document will be mailed on or about April 12, 2023, to unitholders of record of the Funds as at March 28, 2023. The notice-and-access document will describe the various ways in which unitholders can obtain a copy of a management information circular that contains full details of the proposed changes. The notice-and-access document and management information circular will also be available on SEDAR at www.sedar.com.

Additional details regarding the changes will also be set out in Amendment No. 2 to the Simplified Prospectus dated May 27, 2022, and the amended Fund Facts documents for the Funds, which will be available on SEDAR at www.sedar.com.

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

About Leith Wheeler Investment Counsel Ltd.

Founded in 1982, Leith Wheeler is an independent, employee-owned, and client-focused value manager that manages assets on behalf of individual investors, foundations, endowments, Indigenous communities, advisors, pensions, and other institutional clients across Canada.

For further information on Leith Wheeler and its funds, please visit www.leithwheeler.com.

SOURCE Leith Wheeler Investment Counsel Ltd.

Media Contact: Mike Wallberg, Vice President, Marketing & Communications, 604 683 3391, [email protected]