TORONTO, Aug. 24, 2012 /CNW/ - Return On Innovation Management Ltd. ("ROI"), in its capacity as manager and trustee of ROI High Income Private Placement Fund, ROI Private Placement Fund, ROI Strategic Private Placement Fund and ROI Institutional Private Placement Fund (collectively, the "Funds"), is pleased to announce the results of the meetings of Unitholders of the Funds held earlier today.
At the meetings, Unitholders of each of the Funds considered and approved resolutions authorizing the proposed restructuring for the Funds, the change in the investment objectives of the Funds and, in the case of certain Funds, amendments to permit, in advance of the proposed restructurings, certain issuances or redemption of units of the Fund to facilitate such restructurings and related portfolio adjustments. The changes to the Funds were designed to improve liquidity for Unitholders.
Unitholders also provided advice to the manager of the Funds through the approval of certain non-binding advisory resolutions.
ROI believes that the changes are in the best interests of Unitholders of the Funds and ROI is very pleased that the Unitholders have approved its vision to move forward.
About ROI Management
Established in 2002, ROI has grown from managing a single fund to managing a range of products for investors. ROI's investment products include a tax credit fund, mutual funds and private placement pooled funds. Today, ROI manages over $1.5 billion in assets across 10 funds.
SOURCE: ROI Management Ltd.
For further information:
David Sharpe LLB, LLM, MBA
President, Return on Innovation Management Ltd.