November 24, 2016 18:42 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 24, 2016) - Qwest Investment Fund Management Ltd. (the "Manager"), the manager of the AlphaDelta Canadian Prosperity Class (the "Fund"), a class of special shares of Qwest Funds Corp., announced today that it is proposing changes to the fundamental investment objective and strategies of the Fund, as well as the name of the Fund and management fees payable by the Fund, subject to obtaining shareholder approval of the investment objective change at a special meeting of shareholders of the Fund (the "Meeting") to be held on or about December 21, 2016.
In particular, the Manager is proposing to amend the Fund's fundamental investment objective to become to provide long-term capital appreciation by investing primarily in equity securities of Canadian and foreign companies. If this change to the Fund's fundamental investment objective is approved at the Meeting, then the Manager will make consequential changes to the Fund's investment strategies and the name of the Fund will be changed to the "AlphaDelta Canadian Focused Equity Class", and the management fees payable by the Fund will be reduced as follows: the management fee payable in respect of the Series A shares of the Fund will decrease from 2.5% per annum to 2.0% per annum; the management fee payable in respect of the Series F shares of the Fund will decrease from 1.5% per annum to 1.0% per annum; and the management fee payable in respect of the Series G shares of the Fund will decrease from 0.75% per annum to 0.60% per annum.
If the requisite approval is obtained, the investment objective change, as well as the other changes to the Fund described above, are expected to be implemented on or about December 30, 2016.
About Qwest Investment Fund Management Ltd.
Qwest Investment Fund Management Ltd. is the registered portfolio management firm that provides management and portfolio advisory services to the investment funds offered by the Qwest group of companies, including the Qwest Energy Canadian Resource Class, AlphaDelta Tactical Growth Class, AlphaDelta Canadian Prosperity Class and AlphaDelta Growth of Dividend Income Class of Qwest Funds Corp.
Cindy BowerSenior Manager, Business Development & Client ServicesPhone: 604-601-5804 or 1-866-602-1142 (ext. 5804)Email: firstname.lastname@example.orgWebsite: www.qwestfunds.com
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