NexGen Acquires Onefund Diversified Plus from Lionridge Capital Management
Inc.
TORONTO, Sept. 23 /CNW/ - NexGen Financial Limited Partnership ("NexGen") and Lionridge Capital Management Inc. ("Lionridge") are pleased to announce the completion of a purchase transaction whereby NexGen acquired the rights to manage Onefund Diversified Plus ("Onefund"), a mutual fund trust with net assets of approximately $15.7 million. The assets of Onefund have been merged into NexGen's Turtle Canadian Balanced Fund's portfolio.
Onefund investors will benefit from improved economies of scale, access to a higher degree of tax efficiency to the extent assets are taxable, as well as the management talents of Keith Graham of Rondeau Capital Inc., a sub advisor to NexGen, who is lead manager on the NexGen Turtle Canadian Balanced Funds.
Following completion of the transaction NexGen fund assets are currently $720 million, a record high asset level for the organization.
NexGen Financial Limited Partnership is one of Canada's fastest growing independent financial services firms and was founded to develop value added investment solutions for financial advisors and their clients. The firm is focused on the creation of innovative investment products and services that meet the needs of Canadians seeking more tax efficient investment opportunities and greater control over the tax treatment of their investments. Managed by strong investment professionals, NexGen's unique Registered and Tax Managed Fund offerings are well positioned as attractive investment opportunities for Canadians looking to alleviate the tax costs associated with traditional investment solutions.
Lionridge Capital Management Inc. is an independent, Winnipeg-based asset management firm, focusing on the management of equity mandates with a disciplined value method.
For further information: at NexGen: Laurie Munro, President and CEO, 416 775 3705, [email protected]; at Lionridge: Hardev Bains, President, 204 957 1802, [email protected]
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