TORONTO, Nov. 27, 2012 /CNW/ - NexGen Financial Limited Partnership ("NexGen") is pleased to announce that it has received security holder and regulatory approval to proceed with the following fund mergers which were announced on September 7, 2012:
|Terminating Fund||Continuing Dividend Fund||Merger Date|
|NexGen Canadian Large Cap Registered Fund||NexGen Canadian Dividend and Income Registered Fund||November 30, 2012|
|NexGen Canadian Large Cap Tax Managed Fund||NexGen Canadian Dividend and Income Tax Managed Fund||November 30, 2012|
Effective November 30th, the Continuing Dividend Funds will be managed by Jeff Young, CFA, Chief Investment Officer of NexGen.
In addition, the following mergers, which met the pre-approval conditions of National Instrument 81-102 and, accordingly, did not require regulatory or security approvals, will occur.
|Terminating Fund||Continuing Turtle Fund||Merger Date|
|NexGen Canadian Growth and Income Registered Fund||NexGen Turtle Canadian Balanced Registered Fund||November 30, 2012|
|NexGen Canadian Growth and Income Tax Managed Fund||NexGen Turtle Canadian Balanced Tax Managed Fund||November 30, 2012|
|NexGen Canadian Growth Registered Fund||NexGen Turtle Canadian Equity Registered Fund||November 30, 2012|
|NexGen Canadian Growth Tax Managed Fund||NexGen Turtle Canadian Equity Tax Managed Fund||November 30, 2012|
Effective November 30th, the Continuing Turtle Funds will be sub-advised by Keith Graham, CFA, President, Rondeau Capital Inc.
"The mergers will result in NexGen offering fewer, larger Funds effective November 30th and better position the Funds as they work towards potential increased economies of scale. " said Laurie Munro, President of NexGen.
NexGen Financial Limited Partnership is a mutual fund company and was founded to develop value added investment solutions for financial advisors and their clients. The firm is focused on the creation of innovative investment products and services that meet the needs of Canadians seeking more tax efficient investment opportunities and greater control over the tax treatment of their investments. Managed by strong investment professionals, NexGen's unique Registered and Tax-Managed Fund offerings are well positioned as attractive investment opportunities for Canadians looking to alleviate the tax costs associated with traditional investment solutions.
SOURCE: Nexgen Financial Limited Partnership
For further information:
Laurie Munro, President and CEO at 416 775 3705 or [email protected]