PFSL Investments Canada Ltd.

June 15, 2009 12:44 ET

Primerica Concert™ Allocation Series of Funds, Changes to Fees and Commissions for Primerica Canadian Money Market Fund

TORONTO, ONTARIO--(Marketwire - June 15, 2009) - PFSL Investments Canada Ltd. ("PFSL"), the trustee and manager of the Primerica Concert™ Allocation Series of Funds, announced today that it will make changes to the fees and commissions paid on Primerica Canadian Money Market Fund as a way of maintaining a positive yield for unitholders amid the current low-yield environment.

Effective on or about June 15, 2009, PFSL will no longer pay its sales representatives any up-front sales commission for new deferred sales charge (DSC) purchases of units of the Primerica Canadian Money Market Fund. In addition, effective on or about June 15, 2009, PFSL will no longer pay its sales representatives any trailing commissions on units of the Primerica Canadian Money Market Fund held by investors.

As a result of today's announcement, investors who first purchase their DSC units of Primerica Canadian Money Market Fund on or after June 15, 2009, will not pay the deferred sales charges when they sell those units. In effect, no DSC (seven-year) schedule will be created. Once an investor switches out of their DSC units of Primerica Canadian Money Market Fund and into DSC units of another Primerica Concert™ fund, a new seven-year DSC schedule for the investor will be created with respect to the investment in the new Primerica Concert™ fund, and the applicable deferred sales charge will be payable if the investor sells those units within 7 years.

Investors who switch into the DSC option of Primerica Canadian Money Market Fund from another Primerica Concert™ fund with the same DSC option will continue to pay the applicable deferred sales charge if they redeem the units. The seven-year DSC schedule will continue to run from the purchase date of the original Primerica Concert™ fund.

PFSL strongly encourages unitholders to consult with their PFSL sales representative to determine the solution that best meets their individual investment needs and circumstances.

About PFSL Investments Canada Ltd.

PFSL, manager of the Primerica Concert™ Allocation Series of Funds, is a mutual fund dealer subsidiary of Primerica Financial Services (Canada) Ltd. and a member of the Mutual Fund Dealers Association of Canada. The Primerica family of companies, including Primerica Life Insurance Company of Canada, has become an increasingly important participant in the Canadian financial services sector. Primerica Financial Services (Canada) Ltd. and its affiliates, including PFSL, are subsidiaries of Citigroup Inc., a leading global financial services company, with some 200 million customers in more than 100 countries.

Contact Information

  • PFSL Investments Canada Ltd.
    Jeff Goodman
    Securities Marketing Manager
    905-813-5350