Stone & Co. Limited

Stone & Co. Limited

November 06, 2009 11:27 ET

Stone & Co. Limited Announces Changes to Its Mutual Funds

TORONTO, ONTARIO--(Marketwire - Nov. 6, 2009) - Stone & Co. Limited ("Stone & Co.") today announced changes to certain mutual funds it manages.

Effective on or about December 4, 2009, all issued Series A units, Series B units and Series C units of Stone & Co. Flagship Growth & Income Fund Canada ("Growth & Income Fund") will be re-designated as Series T8A units, Series T8B units and Series T8C units of Growth & Income Fund, respectively. With a "re-designation", the particular series of units of Growth & Income Fund that the investor holds at the time is changed so that the investor's holding is of a different series of units of Growth & Income Fund. The re-designation is automatic and such re-designated units will continue to be subject to any redemption charges which may apply to the original units of Series B and Series C units. The fees, rights and privileges, other than the distribution policy, associated with Series T8A, T8B and T8C units are the same as Series A, B and C units. Series T8 units are designed to provide an annual distribution, paid monthly, targeted to a rate of 8%. "In light of current market conditions, Stone & Co. and the Portfolio Manager are of the opinion that following the re-designation, investors will have the opportunity for capital growth and receive tax-efficient monthly cash distributions that reflect the long-term growth potential of the Growth & Income Fund", said Richard Stone, Chief Investment Officer of Stone Asset Management Limited, the Portfolio Manager of the Growth & Income Fund.

Effective December 4, 2009, Series T8B units and Series T8C units of each of the Stone & Co. Mutual Funds (other than Stone & Co. Resource Plus Class, Stone & Co. Growth Industries Fund and Stone & Co. Flagship Money Market Fund Canada, which do not offer Series T8B units and Series T8C units) will be closed to new purchases. This closure will apply to purchases made pursuant to a pre-existing "Stone & Co. Savers Plan", "Stone & Co. Automatic Exchange Plan", and a plan whereby distributions of one Stone & Co. Mutual Fund are automatically used to purchase units of another Stone & Co. Mutual Fund.

Amendments to the Stone & Co. Mutual Funds prospectus and annual information form, each dated August 18, 2009 (the "Prospectus and AIF") to reflect the above-noted changes have been filed with securities regulators and are subject to regulatory approval. Details including a full description of the Series T8A units, Series T8B units and Series T8C units and the re-designations of Series A units, Series B units and Series C units are set out in the Prospectus and AIF, as amended.

About Stone & Co. Limited

Stone & Co. Limited ("Stone & Co.") is an independent, 100% Canadian-owned fund company. Stone & Co. offers the Stone mutual funds, flow-through limited partnerships, and a TSX-listed fund to investors through financial advisors in all provinces and territories of Canada.

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