First Defined Portfolio Management Co. Announces Termination of RBC Dominion Securities U.S. Focus List Portfolio
TORONTO, Dec. 1, 2011 /CNW/ - First Defined Portfolio Management Co. ("FDPM"), the manager of RBC Dominion Securities U.S. Focus List Portfolio (the "Fund"), announced today its intention to terminate the Fund effective on or about February 12, 2012. The Fund will continue to be managed in accordance with its current investment objective and strategy until its termination date, however, effectively immediately, the Fund will be closed to new purchases of shares.
The decision was made as a result of a mutual agreement to terminate a license agreement entered into between FDPM, RBC Dominion Securities Inc. and Royal Bank of Canada pursuant to which FDPM has licensed the use of certain marks, as well as a model portfolio of securities known as the "U.S. Focus List Portfolio" (the "License Agreement"). As the Fund is based on the U.S. Focus List Portfolio, when the License Agreement is terminated, the Fund will not be able to achieve its investment objective.
In accordance with applicable securities legislation, shareholders will be provided 60 days' advance written notice of the termination.
Fraser Howell, President and Chief Financial Officer of FDPM at 416 865-8065 or 877 622-1787.
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