Montreal, August 15, 2024 - In its capacity as manager of the FÉRIQUE Funds, FÉRIQUE Fund Management announced today its intention to reorganize the FÉRIQUE Asian Equity Fund and the FÉRIQUE European Equity Fund, as well as to change the investment objectives of the FÉRIQUE European Equity Fund, which will become an international equity fund. The FÉRIQUE Asian Equity Fund will be dissolved after the reorganization.
FÉRIQUE Fund Management will seek the approval of unitholders of FÉRIQUE’s Asian Equity Fund and European Equity Fund at a special meeting to be held virtually on or about October 21, 2024, at 10 a.m. (Montreal time).
The proposed changes are intended to better target asset allocation within investors' portfolios and to simplify the range of FÉRIQUE Funds.
If the change to the investment objectives of the FÉRIQUE European Equity Fund is approved, the Fund will change its name to the FÉRIQUE International Equity Fund to reflect the new objectives. In parallel with this process, FÉRIQUE Fund Management will appoint Threadneedle Asset Management Limited and Goldman Sachs Asset Management L.P. as portfolio submanagers of the Fund, replacing Lazard Asset Management (Canada) Inc. and Walter Scott & Partners Limited. If the reorganization of the funds and the change in investment objectives are approved, unitholders of the FÉRIQUE Asian Equity Fund will receive units of the FÉRIQUE International Equity Fund.
Subject to unitholder approval, the proposed changes are expected to take effect on or about October 25, 2024 and could reduce the total management expense ratio of the FÉRIQUE International Equity Fund by 0.05% (from 1.31% to 1.26%).
A notification and access document will be sent on or about September 20, 2024, to the registered unitholders of the FÉRIQUE Asian Equity Fund and the FÉRIQUE European Equity Fund as of September 10, 2024. The document will outline the procedure for obtaining a copy of the management proxy circular that will set out the full details of the changes. The circular will also be available on SEDAR+ at www.sedarplus.ca and on FÉRIQUE Fund Management’s website at www.ferique.com.
FÉRIQUE Fund Management will assume all costs associated with the proposed reorganization.
As required by securities regulation, FÉRIQUE Fund Management has submitted the conflict-ofinterest matters inherent in the proposed reorganization to the Independent Review Committee (the “IRC”) of the FÉRIQUE Funds. As part of its mandate, the IRC has made a recommendation in favour of the reorganization and has determined that the proposed reorganization would achieve a fair and reasonable result for the investment funds involved.
Unitholders of the Funds will be able to sell or exchange their securities until the close of business on the business day preceding the reorganization date. The units of the FÉRIQUE European Equity Fund and the FÉRIQUE Asian Equity Fund will no longer be available for purchase by new investors as of August 16, 2024, at 4:00 PM (Montreal time). More information will be included in the circular that will be made available on or about September 20, 2024.
