MONTREAL, Oct. 21, 2024 /CNW/ - In its capacity as manager of the FÉRIQUE Funds, FÉRIQUE Fund Management announces the results of today's special meeting of unitholders of the FÉRIQUE Asian Equity Fund and the FÉRIQUE European Equity Fund (the "Continuing Fund").
Unitholders of the concerned funds approved the previously announced resolutions to reorganize the FÉRIQUE Asian Equity Fund and the FÉRIQUE European Equity Fund, as well as to change the investment objectives of the FÉRIQUE European Equity Fund.
As a result of this change, the FÉRIQUE European Equity Fund will be renamed FÉRIQUE International Equity Fund and will be managed by portfolio sub-managers Threadneedle Asset Management Limited and Goldman Sachs Asset Management L.P., thereby replacing the current portfolio sub-managers Lazard Asset Management (Canada) Inc. and Walter Scott & Partners Limited. The Continuing Fund's investment strategy will also be changed to reflect the new investment objectives. These changes will come into effect on or around October 25, 2024. Gestion FÉRIQUE will remain the portfolio manager of the Continuing Fund.
It is anticipated that the management expense ratio (MER) of the FÉRIQUE International Equity Fund will be 1.26%, a decrease of five basis points (5 bps) compared with the management expense ratio of the FÉRIQUE European Equity Fund.
It is also anticipated that the FÉRIQUE Asian Equity Fund will be dissolved after the reorganization.
More information concerning the above-mentioned reorganization and change of investment objectives can be found in the management information circular filed on Gestion FÉRIQUE's profile on SEDAR+ at www.sedarplus.ca and on Gestion FÉRIQUE's website at www.ferique.com.
ABOUT GESTION FÉRIQUE
Founded on October 12, 1999, FÉRIQUE Fund Management (www.ferique.com)is the manager of the FÉRIQUE Funds. It is the only not-for-profit mutual fund company in Canada dedicated solely to serving the interests of engineering professionals and their families. The company offers 18 mutual funds, including 5 portfolios representing the different asset classes required for healthy diversification. Fund management is entrusted to reputable external firms mandated by FÉRIQUE Fund Management according to their respective specialties. FÉRIQUE Funds total $4.3 billion and has nearly 24,000 participants as of September 30, 2024.
This document contains forward-looking statements on the FÉRIQUE Funds concerning the reorganization and the modification of investment objectives described above, and the benefits and impacts resulting therefrom. Forward-looking statements are based on the manager's opinions and estimates as at the date when such statements are made (including, without limitation, regarding the manager's capacity to fulfill the conditions of such transactions) and are subject to inherent uncertainties and risks concerning such transactions, such that the forward-looking statements may not materialize.
SOURCE FÉRIQUE Fund Management
For information: Hugo Thibault, Vice President, Marketing and Corporate Development, FÉRIQUE Fund Management, 514 796-9206, [email protected]
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