TORONTO, ONTARIO--(Marketwired - June 2, 2014) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE SERVICES
Front Street Mutual Fund Limited ("FSMFL") and its manager, Front Street Capital 2004 (the "Manager"), have mailed the management proxy circular (the "Circular") containing details of the previously announced special meeting of the holders of Front Street Value Class (the "Fund") to be held on June 24, 2014 to consider a change to the fundamental investment objectives of the Fund to the following:
"The Fund's investment objective is to provide Shareholders with long-term capital growth and the opportunity for income through the selection, management and strategic investing in long and short positions in equity, debt and derivative securities. The Fund will invest primarily in U.S. equities and may focus its assets in specific industry sectors and asset classes based on analysis of business cycles, industry sectors and market outlook. The Fund may also invest in non-U.S. securities, including foreign common stock of issuers of any capitalization range and American Depositary Receipts ("ADRs") that provide investment exposure to global equity markets.
Front Street Investment Management Inc., the Fund's investment advisor, may also consider non-investment factors such as cash flow and liquidity requirements, hold periods and restrictions, risk factors, stop-loss containment and tax-efficient distributions in making security selections for the portfolio."
The Manager believes this change in investment objective is desirable as it provides shareholders of the Fund with the potential for long-term capital appreciation by way of exposure to U.S. and global equities and income securities. The Circular is also available at www.sedar.com. If this change in fundamental investment objectives is approved, Front Street Value Class will be renamed Front Street U.S. Equity Class.