Brompton Mutual Funds Limited Provides Update on 2016 Federal Budget Proposal Impacting Mutual Fund Corporations

TORONTO, ONTARIO--(Marketwired - April 14, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Brompton Mutual Funds Limited (the "Corporation") would like to advise investors in Brompton Resource Class and Brompton Dividend & Income Class (the "Funds") of proposed changes to the ability of shareholders to switch between the Funds on a tax-deferred basis.

Currently shareholders of mutual funds that are classes of a mutual fund corporation, like the Funds, may switch between the classes without resulting in a taxable disposition. However, as part of the 2016 Federal Budget, the government has proposed to eliminate the ability of shareholders to switch between share classes on a tax-deferred basis after September 2016 where the classes derive their value from different portfolios. This does not apply to switches between different series of the same class.

The Corporation will continue to monitor and assess any guidance regarding the implementation of the proposed changes. Investors should consult with their financial advisor about their investment options and how these changes may impact them.

About Brompton Funds

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton's investment solutions include TSX listed closed-end funds, mutual funds, hedge funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Funds' prospectus before investing which is available from SEDAR at www.sedar.com. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Funds, to the future outlook of the Funds and anticipated events or results and may include statements regarding the future financial performance of the Funds. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy shares nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.