Morgan Meighen & Associates Limited

June 27, 2005 15:54 ET

Morgan Meighen Announces Fund Mergers and Change in Manager

TORONTO, ONTARIO--(CCNMatthews - June 27, 2005) - Morgan Meighen & Associates Limited ("MMA") announced today that it has entered into an agreement to transfer the management of the Capstone Funds to Juniper Fund Management Corporation ("JFM"). Units of the Capstone Funds are offered by way of prospectus in each Province in Canada, other than Quebec, and, as such, the Capstone Funds are subject to National Instrument 81-102 Mutual Funds ("NI 81-102"). Completion of the agreement is therefore subject to receipt of all required regulatory and unitholders approvals under such instrument.

Capstone Cash Management Fund

In the case of the Capstone Cash Management Fund, subject to unitholder and regulatory approval, the declaration of trust and the management contract of the fund will be assigned to JFM. JFM will become the trustee and the manager (within the meaning of such term in NI 81-102) of such fund. MMA intends to call a special meeting of unitholders of the fund to approve the change in manager and such other changes as directed by JFM, including a change in management fees, change in custodian, change in investment objectives and strategies, change of name and such consequential changes to the declaration of trust. Full details of the matters to be approved at the special meeting will be set out in meeting materials to be mailed to unitholders of the fund in July, 2005.

Capstone Balanced Fund, Capstone Canadian Equity Fund, and Capstone Global Equity Fund

Capstone Balanced Fund, Capstone Canadian Equity Fund, and Capstone Global Equity Fund (the "Merging Capstone Funds"), will, subject to unitholder and regulatory approval, be merged with the Juniper Equity Growth Fund. In order to facilitate the proposed mergers, unitholders of the Merging Capstone Funds will be asked to approve, as part of the merger, certain changes to the declarations of trusts of the funds.

MMA intends to call concurrent special meetings of unitholders to approve such mergers. Full details of the matters to be approved at the special meetings will be set out in meeting materials to be mailed to unitholders of the Merging Capstone Funds in July, 2005. If approved by the unitholders of such funds at the concurrent special meetings, and subject to the receipt of regulatory approval, it is anticipated that the mergers and the assignment of contracts for the Capstone Cash Management Fund will become effective at the end of August 2005.

Contact Information

  • Morgan Meighen & Associates Limited
    Clive Robinson
    Senior Vice-President
    (416) 366-2931