SOURCE: DPF India Opportunities Fund

DPF India Opportunities Fund

SOURCE: 1832 Asset Management L.P.

March 05, 2014 11:47 ET

DPF India Opportunities Fund Announces Details of Its Proposed Conversion to an Open-Ended Fund

TORONTO, ON--(Marketwired - March 05, 2014) - 1832 Asset Management L.P. (the "Manager"), manager of DPF India Opportunities Fund (TSX: DPF.UN) (the "Fund"), announced details of the proposed conversion of the Fund from a closed-end investment fund to an open-ended fund. 

On or about June 20, 2014 (the "Conversion Date"), subject to obtaining the necessary approvals:

  • the name of the Fund will change to Dynamic Emerging Markets Fund;
  • the Fund's new investment objective will be to achieve long-term capital appreciation by investing primarily in equity securities of companies that are located or doing business primarily in emerging markets;
  • the units of the Fund will become redeemable on a daily basis at their net asset value per unit; and
  • unitholders will be able to switch their units into units of other mutual funds offered by the Manager.

A Unitholder meeting will take place on May 21, 2014 seeking approval of the proposed conversion.

A management information circular and other proxy materials, providing further details about the proposed conversion, will be sent in due course to unitholders of record as at April 10, 2014. The units of the Fund will be delisted from the Toronto Stock Exchange prior to the Conversion Date. Units may be surrendered for redemption as detailed in the management information circular prior to the Conversion Date.

The Manager referred the proposal to the Fund's Independent Review Committee, which concluded that, in its view, the result of the proposal to convert the Fund to an open-ended fund as described above is fair and reasonable to the Fund and its unitholders.

About 1832 Asset Management L.P.
1832 Asset Management L.P. offers a range of wealth management solutions, including mutual funds, investment solutions for private clients, institutional clients and managed asset programs. 1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by Scotiabank.

Caution regarding forward-looking statements
Certain portions of this news release may contain forward-looking statements about the Fund. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates" and similar forward-looking expressions or negative versions thereof. In addition, any statement that may be made concerning future performance, strategies or prospects, and possible future Fund action, is also a forward-looking statement. Forward-looking statements are inherently subject to, among other things, risks and uncertainties, some of which may be unforeseeable. Accordingly, assumptions concerning future economic and other factors may prove to be incorrect at a future date.

Forward-looking statements are not guarantees of future performance, and actual events could differ materially from those expressed or implied in any forward-looking statements made by the Fund. Any number of important factors could contribute to these digressions, including, but not limited to, failure to receive unitholder approval of the proposed conversion at the unitholder meeting or failure receive all required regulatory approvals to implement the proposed conversion should it be approved by unitholders. We stress that the above mentioned list of important factors is not exhaustive.

We encourage you to consider these and other factors carefully before making any investment decisions and we urge you to avoid placing any undue reliance on forward-looking statements. Further, you should be aware of the fact that the Fund has no specific intention of updating any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. For a complete disclosure record for the Fund, please visit its profile at . Unitholders are encouraged to consult with their own tax advisors for advice with respect to the tax consequences of the proposed conversion having regard to their own particular circumstances.

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