Matrix Tax Deferred Income Fund & Matrix Tax Deferred Income Trust Pool

TORONTO, ONTARIO--(Marketwire - March 22, 2013) - Matrix Funds has received the recent Federal Budget provisions with respect to character conversion transactions.

The budget proposes new rules that would treat the gain realized on close-out of any derivative forward agreement as ordinary income rather than capital gain for forward agreements entered into after March 21, 2013.

The proposed changes are being reviewed to determine what impact, if any, they will have on the Matrix Tax Deferred Income Fund and the Matrix Tax Deferred Income Trust Pool, which use forward agreements as part of their investment strategies to create a tax efficient distribution for their unitholders. As details are limited at this point, the Funds will await further guidance from the Federal Government on how these new changes will be implemented and make further announcements as necessary.

The Matrix Tax Deferred Income Fund recently won the 2013 Lipper Award for its 3 year performance in the Global Equity Balanced Category.

The Matrix Tax Deferred Income Fund and Matrix Tax Deferred Income Trust Pool are managed by Toronto based Liis Palmer, Vice President & Portfolio Manager, Cassels Investment Management Inc. Brookfield Asset Management acts as a sub-advisor to Cassels with respect to the fixed income portion of the portfolios.

* GrowthWorks Capital Ltd., through its Matrix Funds Management operating division, is the manager of the Matrix Funds and a subsidiary of Matrix Asset Management Inc. (TSX:MTA). Matrix provides diversified asset and wealth management for both individuals and institutional investors. Please visit www.matrixfunds.ca for more information.

Matrix Funds are distributed through authorized investment dealers. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance provides no assurance or indication of future performance. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Please review the Fund(s) prospectus carefully for important information before investing.