Canoe Financial LP announces approval of changes to certain mutual funds
June 10 2024 - 4:30PM
Canoe Financial LP (“Canoe Financial”) today announced unitholder
approval to proceed with changes to Canoe Premium Income Fund (the
“Fund”) as previously announced on March 28, 2024. Canoe Financial
also announced a change in sub-advisor for Canoe Global Income Fund
and Canoe Global Income Portfolio Class (collectively, “Global
Income Funds”).
Changes to Canoe Premium Income
Fund
Effective after the close of business on or about
June 20, 2024, the investment objective of Canoe Premium Income
Fund will be to generate income and long-term capital growth by
primarily writing put options, investing in equity securities,
and/or writing call options on these equities. The Fund will seek
to achieve its objectives by primarily writing cash covered put
options on North American equities, as well as investing in a
diversified portfolio of North American equities, writing covered
calls, and employing other options strategies.To better align with
the new investment objective:
- The Fund will be renamed Canoe Premium Yield Fund; and
- The Fund’s investment strategies will have a greater focus on
generating premiums from writing put options.
The Fund will continue to be managed by Steve
DiGregorio, Vice President & Portfolio Manager, and the Fund’s
risk rating will remain low/medium. Full details of changes to the
Fund can be found in a management information circular available on
www.sedarplus.ca.
Changes to Canoe Global Income Fund and
Canoe Global Income Portfolio Class
The Global Income Funds’ current sub-advisor Aegon
Asset Management, will be replaced with Reams Asset Management
(“Reams”) on or about August 1, 2024. Reams manages fixed income
assets for a broad group of institutional investors and is the
sub-advisor for Canoe Unconstrained Bond Fund and Canoe
Unconstrained Bond Portfolio Class. Reams was established in 1981
and is headquartered in Indianapolis. As of March 31, 2024, Reams
managed US $26.7 billion in assets.
About Canoe Financial
Canoe Financial is one of Canada’s fastest growing
independent mutual fund companies managing over $16 billion in
assets across a diversified range of award-winning investment
solutions. Founded in 2008, Canoe Financial is an employee-owned
investment management firm focused on building financial wealth for
Canadians. Canoe Financial has a significant presence across
Canada, including offices in Calgary, Toronto and Montreal.
About Reams Asset Management
Reams Asset Management, founded in 1981, is a fixed
income investment management firm whose mission is to provide
high-quality investment expertise and unmatched client service. We
apply our consistent investment process across a range of
strategies, seeking to take advantage of volatility and react
opportunistically to price and valuation dislocations in the bond
market. Reams offers clients customized solutions that seek to
maximize risk-adjusted total returns over a full market cycle and
across a range of fixed income strategies. Reams Asset Management
is a division of Scout Investments.
Further informationInvestor
RelationsCanoe Financial
LP1–877–434–2796info@canoefinancial.com
Commissions, trailing commissions, management fees
and expenses all may be associated with mutual fund investments.
Please read the prospectus before investing. The indicated rates of
return are the historical annual compounded total returns including
changes in unit value and reinvestment of all distributions and do
not take into account sales, redemption, distribution or optional
charges or income taxes payable by any unitholder that would have
reduced returns. Mutual funds are not guaranteed, their values
change frequently, and past performance may not be repeated.
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