TORONTO, Nov. 6, 2017 /CNW/ - Further to the November 1, 2017 press release, special meetings of unitholders of the following ETFs:
Sphere FTSE Canada Sustainable Yield Index ETF (TSX: "SHC")
Sphere FTSE US Sustainable Yield Index ETF (TSX: "SHU")
Sphere FTSE Europe Sustainable Yield Index ETF (TSX: "SHE")
Sphere FTSE Asia Sustainable Yield Index ETF (TSX: "SHA")
Sphere FTSE Emerging Markets Sustainable Yield Index ETF (TSX: "SHZ")
will be held on December 11, 2017 whereby unitholders of record of each ETF on November 1, 2017 will be asked to approve a change in manager and trustee from Sphere Investment Management Inc. to Evolve Funds Group Inc. ("Evolve"), and in connection therewith, each of SHU and SHA will merge into SHC.
In connection with the proposed changes, Evolve will reduce the management fee of SHC to 0.45% of net asset value (from 0.54%) and SHE to 0.50% of net asset value (from 0.54%). The management fee of SHZ will remain the same. Evolve will also introduce a fixed administration fee that will result in a cap on certain operating expenses of 0.15% of net asset value in respect of SHC and SHE, and a fixed administration fee of 0.25% of net asset value of SHZ. In addition, the trustee and portfolio manager of each Sphere ETF will change to Evolve and the custodian will change from State Street Trust Company Canada to CIBC Mellon Trust Company. The fundamental investment objectives of SHC, SHE and SHZ will remain substantially the same. Subject to obtaining all necessary regulatory, unitholder and applicable third party approvals, it is anticipated that the change in manager and merger will be implemented by January 31, 2018.
Commissions, management fees and applicable sales taxes all may be associated with an investment in the exchange traded funds managed by Sphere Investment Management Inc. The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the ETFs. Please read the prospectus before investing.
About Sphere Investment Management Inc.
Sphere Investment Management Inc. is the provider of an integrated wealth management platform based on ETFs. Founded in 2015, Sphere was established with a philosophy of providing Canadians with leading investment solutions based on factor-tilted methodologies that are: innovative, diversified, low cost, tax efficient, transparent and tailored to investor risk/return profiles. For more information, visit: sphereetfs.com
SOURCE Sphere Investment Management Inc.
For further information: Media Contact: John Durfy, Chief Financial Officer, Sphere Investment Management Inc., e: [email protected], o: 416.687.5436.