BEST Funds

BEST Funds

April 23, 2013 16:00 ET

BEST Funds Comment on the Proposed Phase Out of the Federal Labour-Sponsored Venture Capital Corporations Tax Credit

TORONTO, ONTARIO--(Marketwired - April 23, 2013) - B.E.S.T. Investment Counsel Limited (the "Manager"), the manager of B.E.S.T. Total Return Fund Inc. (the "Fund"), announces that it will assess the impact of the proposals contained in the 2013 budget announced by the Minister of Finance (Canada) on March 21, 2013 related to the phase out of the federal tax credit. The federal tax credit is currently available for purchases of newly issued Class A Shares of the Fund, subject to specific exemptions and requirements. It is proposed that the 15% federal tax credit will be reduced to 10% for the 2015 taxation year and to 5% for the 2016 taxation year, before being eliminated in 2017. The Manager will continue to assess the effect of the proposals on the Fund, including the level of sales of Class A Shares.

About BEST Funds

BEST Funds, a leader in the venture capital arena since 1996, focuses on rapidly growing Canadian companies, where new technology can fundamentally change the way people conduct business or enjoy their lifestyles. After identifying an emerging market that has tremendous growth potential, BEST Funds' experienced management team then selects companies poised to be leading players in that market for the investment portfolio. BEST Fund's extensive experience in the venture capital arena helps ensure that all of our investors partake in unique opportunities otherwise available only to high net worth and institutional investors.

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