PFD.PR.A to become Mutual Fund

JovFunds has announced:

its intention to proceed with a merger of Charterhouse into a new open-end mutual fund trust (the “Merger”). The primary investment objective of the new fund will be to generate high dividend income while protecting capital by investing primarily in preferred shares of Canadian companies and other income generating securities.

The Merger is expected to be completed within 90 days and is subject to all required regulatory and third party approvals. JovFunds has the authority to delay or terminate the proposed Merger if it determines that it would be necessary or desirable to do so, including if holders of a significant percentage of preferred shareholders of Charterhouse elect to exercise the annual retraction right prior to the November 15, 2008 deadline.

The success of the resolution to do this was reported on PrefBlog.

One Response to “PFD.PR.A to become Mutual Fund”

  1. […] intention to merge has been discussed on PrefBlog. JovFunds and Leon Frazer are both owned by Jovian […]

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