TORONTO, Oct. 13, 2015 /CNW/ - Moneda LatAm Fixed Income Fund ("MLFIF" or the "Fund") announced today that an administrative error caused MLFIF's published net asset value ("NAV per Unit") to be overstated for the period between July 3, 2015 and September 30, 2015. The NAVs per Unit were subsequently recalculated and were lower than the reported NAV throughout the period, with the maximum difference for any day being $0.23 per Unit or approximately 2.75 – 3.0%. The error was corrected in MLFIF's NAV per Unit published on October 1, 2015. During this time period there were no offerings of or subscriptions for units of the Fund at the originally published NAV per Unit, while 1,000 units of the Fund were redeemed on August 28, 2015. The manager of MLFIF, Scotia Managed Companies Administration Inc. ("SMCAI"), intends to reimburse the Fund for the overpayment of redeemed units and overpayment of management fees resulting from the error and to compensate affected unitholders who traded units during the relevant period in accordance with the Fund's policies and procedures.
Unitholders who properly submit a notice to exercise their redemption rights for MLFIF's 2015 annual redemption by October 13, 2015 will be permitted to withdraw their redemption request by submitting a notice of withdrawal between October 16, 2015 and October 30, 2015. This withdrawal of the redemption request will allow unitholders of the Fund who wish to maintain their investment in MLFIF to revoke their previously stated intention to redeem their units and remain unitholders of the Fund. Unitholders who submitted notice to exercise their redemption rights for MLFIF's 2015 annual redemption should refer to MLFIF's NAV per Unit posted on SMCAI's website at: www.scotiamanagedcompanies.com.
The Class A Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol MLF.UN.
SOURCE Moneda LatAm Fixed Income Fund
For further information: Robert Hall, Tel: 416 933-2624