Canoe Financial Announces Fund Risk Rating and Strategy Changes

CALGARY, ALBERTA--(Marketwire - Aug. 8, 2012) -

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Canoe Financial LP (the "Manager") today announced a change to the risk rating for the following funds: Canoe 'GO CANADA!' Bond Advantage Fund, Canoe 'GO CANADA!' Bond Advantage Class, Canoe 'GO CANADA!' Enhanced Income Fund and Canoe 'GO CANADA!' Enhanced Income Class. Additionally, the investment strategy of Canoe 'GO CANADA!' Energy Income Class has been changed. These changes are reflected in the funds' amended and restated simplified prospectus filed with Canadian securities regulators today.

The risk level of Canoe 'GO CANADA!' Bond Advantage Fund, Canoe 'GO CANADA!' Bond Advantage Class, Canoe 'GO CANADA!' Enhanced Income Fund and Canoe 'GO CANADA!' Enhanced Income Class has been adjusted from "low to medium" to "low". The Manager determined that the investment risk rating assigned to these funds was higher than the risk level assigned to other similar mutual funds in the same fund type category. Using its risk rating methodology, where a fund is new or does not have a five year performance history (as is the case with these funds), the Manager will look at the risk rating assigned to the fund category in which each fund belongs. As the Canadian fixed income and the Canadian fixed income balanced categories are rated as "low" risk, the Manager has determined it is appropriate to lower its expected risk rating for these Funds to "low". No changes have been made to the investment objectives, strategies or management of these funds.

In addition, the investment strategies of Canoe 'GO CANADA!' Energy Income Class have been amended to remove reference to any target asset mix. The portfolio manager has determined that the existing target allocation of 70% equities and 30% fixed income is not a desirable asset mix for this fund, given current market conditions. In order to provide the portfolio manager with increased flexibility in applying its investment style to selecting equity and fixed income investments, the Manager is removing all reference to a target mix in the fund's investment strategies. This change will permit the portfolio manager to invest up to 100% of the fund's assets in either equity securities or fixed income securities.

About Canoe Financial LP

Canoe Financial is the registered portfolio manager and manager of the funds. AEGON Capital Management is sub-advisor to the Canoe 'GO CANADA!' Bond Advantage Fund, Canoe 'GO CANADA!' Bond Advantage Class, Canoe 'GO CANADA!' Enhanced Income Fund and Canoe 'GO CANADA!' Enhanced Income Class. Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!' investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.

Canoe is one of Canada's fastest-growing investment fund companies and currently manages approximately $1.6 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.

Forward Looking Statement: Certain statements included in this news release may constitute forward looking statements which reflect

Canoe Financial's current expectations regarding future results or events. Words such as "may," "will," "should," "could," "anticipate," "believe," "expect," "intend," "plan," "potential," "continue" and similar expressions have been used to identify these forward-looking statements.

Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.

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 and their values change frequently. This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.