OceanRock Investments Announces Completion of Fund Changes

VANCOUVER, Oct. 15 /CNW/ - OceanRock Investments Inc. ("OceanRock"), manager of the OceanRock family of mutual funds (the "OceanRock Funds") and the Meritas family of mutual funds (the "Meritas Funds"), is pleased to announce the completion of the restructuring changes to the OceanRock Funds (formerly named the QFM Funds) and Meritas Funds announced April 30, 2010. Following unitholder approval of the changes at special meetings of unitholders of the OceanRock Funds held on September 29, 2010, all changes were fully implemented as of October 13, 2010. The changes align the two fund families and enhance OceanRock's mutual fund offering while improving the management, operation and administration of the funds for the benefit of both the funds and their respective unitholders. Investors may now switch between the two fund families without incurring any sales charges. In addition, OceanRock is excited to announce the launch on October 18, 2010 of five new portfolio funds - Meritas Income & Growth Portfolio, Meritas Growth Portfolio, OceanRock Income & Growth Portfolio, OceanRock Balanced Portfolio and OceanRock Growth Portfolio - bringing the total number of portfolio funds offered to eight. The key changes to the funds are:

• Qtrade Fund Management Inc. has been renamed OceanRock Investments Inc. and the QFM Funds have been rebranded as the OceanRock Funds.
• The former QFM Money Market Fund has merged with Meritas Money Market Fund.
• The former QFM Fixed Income Fund has merged with Meritas Canadian Bond Fund.
• OceanRock Canadian Equity Fund (formerly named QFM Structured Yield Fund) has changed its fundamental investment objective and has appointed Laketon Investment Management Ltd. as its sub-adviser.
• OceanRock US Equity Fund (formerly named QFM Global Equity Fund) has changed its fundamental investment objective and has appointed McLean Budden Limited as its sub-adviser.
• OceanRock International Equity Fund (formerly named QFM Global Sector Target Fund) has changed its fundamental investment objective.
• QFM World Balanced Fund has been renamed OceanRock Growth & Income Portfolio.
• The outstanding Series B, C and D units of the OceanRock Funds have been redesignated as Series A units of the respective fund, such that the OceanRock Funds currently offer Series A and Series F units.
• In order to align the OceanRock Funds and the Meritas Funds certain management fees and sales charges have been changed and a number of service providers have been appointed for both fund families including custodian (Canadian Western Trust Company), registrar and transfer agent (Citigroup Fund Services Canada, Inc.) and auditor (Grant Thornton LLP).

About the Qtrade Financial Group

The Qtrade Financial Group provides comprehensive brokerage and wealth management platforms, services and solutions to the retail public as well as the customers of over 180 financial institutions across Canada. Since 1999, Qtrade has been dedicated to providing its financial institution partners with a single source for market-leading wealth management products and services including: online, full-service and institutional brokerage services, mutual fund dealer services, insurance dealer services, portfolio management and discretionary money management services and proprietary managed money solutions. For more information visit www.qtrade.ca.

For further information:

Qtrade Financial Group
Pamela Patton
Vice President, Marketing & Partner Relations
T 604.678.6962
E [email protected]