Caldwell Investment Management Ltd.

September 28, 2017 13:43 ET

Caldwell Investment Management Ltd. - Announcement

TORONTO, ONTARIO--(Marketwired - Sept. 28, 2017) - Caldwell Investment Management Ltd. ("Caldwell"), the manager and trustee of the Caldwell Canadian Value Momentum Fund (the "Fund"), announces today that an amount equal to the $24,330 performance fee in respect of the 2016 fiscal year incorrectly borne by Series F unitholders of record as of December 30, 2016 (the "Affected Unitholders") due to a calculation error will be returned (the "Refund"). Caldwell will repay the Fund this amount and the Fund will immediately distribute to Affected Unitholders their share of the amount as a reduction of capital. In addition, Caldwell will also refund the performance fee earned by it for the 2016 fiscal year in respect of Series F units of the Fund, which will be included in the amount distributed to Affected Unitholders (the "Waiver").

In the opinion of the Fund's independent review committee, after reasonable inquiry, the Refund and Waiver achieve a fair and reasonable result for the Fund.

Each Affected Unitholder will be notified of the Refund and Waiver in writing. The Refund and Waiver should not expose the Fund or Affected Unitholders to adverse tax consequences. Neither the Fund nor any Fund unitholder will be financially disadvantaged.

The Fund's 2016 Series F management expense ratio ("MER") will be reduced as a result of the Refund and Waiver. A material change report and related amendment to the Fund's current Simplified Prospectus and Series F Fund Facts document will be filed in due course to reflect the reduction in the Series F 2016 MER figures.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • Brendan T. N. Caldwell
    President and Chief Executive Officer