MONTREAL, Dec. 11, 2012 /CNW Telbec/ - By press release dated October 10, 2012, Professionals' Financial - Mutual Funds Inc. (the "Manager") announced its proposal to change the investment objectives of its 13 funds, namely the Professionals' Balanced Fund, Professionals' Balanced Growth Fund, Professionals' Retirement Balanced Fund, Professionals' Bond Fund, Professionals' Short Term Fund, Professionals' Canadian Equity Fund, Professionals' Dividend Fund, Professionals' Global Equity Fund, Professionals' American Index Fund, Professionals' European Equity Fund, Professionals' Asian Equity Fund, Professionals' Emerging Markets Equity Fund and the Professionals' Equity World Trends Fund, (each, a "Fund" and, collectively, the "Funds"). The goal of these changes is to provide more flexibility in the day-to-day management of the Funds in order to enhance value for unitholders.
The special meetings of unitholders of the Funds were called for December 10, 2012 to seek the approval of unitholders on record on November 6, 2012 for the proposed investment objective changes. On November 7, 2012, a notice of meeting and a management information circular providing the necessary details of the proposals, as required by securities regulations, were sent to the unitholders of the Funds.
The quorum for the meetings of the unitholders of the Funds, which is two unitholders present in person or represented by proxy and holding not less than 10% of the units of each Fund, was not reached for the majority of the Funds. As a result, the meetings of the unitholders of the Funds have been adjourned to Monday, December 17, 2012, commencing at 9:30 a.m. (Eastern Standard Time) at the offices of the Fédération des médecins spécialistes du Québec, located at 2 Complexe Desjardins, East Tower, 20th Floor (Salle Raymond-Robillard), Montreal, Québec.
As prescribed in the Declaration of Trust of the Funds, if a meeting of the unitholders of a Fund is adjourned due to lack of quorum, unitholders of such Fund present at the adjourned meeting, whatever their number and the number of units held by them, will form a quorum.
About Professionals' Financial
Professionals' Financial serves, among others, the following shareholder members: the Fédération des médecins spécialistes du Québec, the Association des chirurgiens dentistes du Québec, the Corporation de service de la Chambre des notaires, the Association des architectes en pratique privée du Québec and the Association québécoise des pharmaciens propriétaires. Members of the Fédération des médecins résidents du Québec and of Médecins francophones du Canada, both partners of Professionals' Financial, also have access to the same services. Initially designed for professionals not covered by a pension plan and their family members, the Financial now offers professionals private management, mutual funds and financial planning services. Its investment solutions are focused on long-term performance and capital preservation, and its management and professional fees are among the lowest in Canada. Professionals' Financial has more than 8,000 clients and assets under management of over $2 billion. It is headquartered in Montréal, with offices in Québec City and Sherbrooke.
SOURCE: PROFESSIONALS' FINANCIAL
For further information:
Vice-Chairman of the Board and Vice-president
Professionals' Financial - Mutual Funds Inc.
2 Complexe Desjardins
East Tower, 31st Floor
P. O. Box 1116
Montréal, Quebec H5B 1C2
More details at www.fprofessionels.com