March 30, 2017 09:16 ET
OAKVILLE, ONTARIO--(Marketwired - March 30, 2017) - Harvest Portfolios Group Inc. ("Harvest") announced today that it will assume investment management responsibilities for the Australian REIT Income Fund (TSX:HRR.UN) (the "Fund") from Macquarie Investment Management Global Limited. The change in investment manager for the Fund will occur on or about June 30, 2017. Upon assuming investment management responsibilities, Harvest intends to engage Australian-based CBG Asset Management Limited to provide local market and industry research and intelligence to enhance Harvest's investment management process and decision making.
Harvest referred the change in investment manager to the Fund's independent review committee for consideration. After due consideration, the independent review committee, each member of which is independent of the Fund and Harvest, determined that the change in investment manager would achieve a fair and reasonable result for the Fund.
There will be no change to any of the Fund's investment objectives, investment restrictions, fee structure, redemption provisions, TSX listings or other terms of the declaration of trust as a result of the change.
"Our investment management team, with the benefit of CBG Asset Management Limited's insight, will continue to provide quality active portfolio management for the Fund", said Michael Kovacs, President & Chief Executive Officer, Harvest Portfolios Group Inc.
You will usually pay brokerage fees to your dealer if you purchase or sell units of a fund on the TSX. If units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of a funds and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Funds in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Harvest Portfolios Group Inc.David BalsdonChief Compliance Officer1email@example.com
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