Leith Wheeler Investment Counsel Ltd. Provides Update on Series B, F Funds, and Balanced Fund
VANCOUVER, BC, Oct. 3, 2023 /CNW/ - Leith Wheeler Investment Counsel Ltd. ("Leith Wheeler"), manager of the Leith Wheeler Investment Funds (the "Funds") announced today that, effective immediately, it was ceasing the distribution of Series B units of the Funds. In connection with such cessation, it will file an amendment to the simplified prospectus of the Funds dated May 26, 2023, as amended.
Following the cessation of distribution, effective on or about October 18, 2023, the Manager will re-designate Series B units as Series F units of the following Funds and reduce the management fee as indicated:
Fund |
Series B Management Fee (Old)_ |
Series F Management Fee (New) |
Leith Wheeler Canadian Equity Fund |
1.40 % |
0.95 % |
Leith Wheeler Core Bond Fund |
0.75 % |
0.50 % |
Leith Wheeler Money Market Fund |
0.60 % |
0.40 % |
Also effective on or about October 18, 2023, the following Series B units of the Funds will be re-classified as Series F units: Leith Wheeler Balanced Fund, Leith Wheeler Canadian Dividend Fund, Leith Wheeler Carbon Constrained Canadian Equity Fund, Leith Wheeler Corporate Advantage Fund, Leith Wheeler Emerging Markets Equity Fund, Leith Wheeler Income Advantage Fund, Leith Wheeler International Equity Plus Fund, Leith Wheeler Multi Credit Fund, Leith Wheeler Preferred Share Fund, Leith Wheeler Short Term Income Fund, Leith Wheeler U.S. Dividend Fund, Leith Wheeler U.S. Equity Fund, Leith Wheeler U.S. Small/Mid-Cap Equity Fund, Leith Wheeler High Yield Bond Fund (CAD Hedged) and Leith Wheeler High Yield Bond Fund.
After the re-designation of the three Funds from series B to series F, all of the named Funds will be distributed as Series F and Series A units.
In addition, Leith Wheeler Balanced Fund announced today that it has revised its investment strategies to permit the use of derivatives for not only hedging purpose, but also non-hedging purposes rather than direct investments to reduce transaction costs, achieve greater liquidity, create effective exposure to a market or increase speed and flexibility in making portfolio changes. Further details can be found in Amendment No. 2 to the simplified prospectus of the Fund.
Founded in 1982, Leith Wheeler is an independent, employee-owned, client-focused value manager that manages assets on behalf of individual investors, foundations, endowments, Indigenous communities, advisors, pensions and other institutional clients across Canada.
For further information on Leith Wheeler and its funds, please visit www.leithwheeler.com.
SOURCE Leith Wheeler Investment Counsel Ltd.
Media Contact: Mike Wallberg, Vice President, Marketing & Communications, 604 683 3391, [email protected]
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