Changes to the FÉRIQUE Fund offering
The proposed changes aim to improve the relevance of our offering to better meet the needs of our investors. Here, you will find detailed information about the upcoming changes: the reasons behind them, key dates to remember, the benefits for unitholders and various documents relating to the announced changes.
Reorganization of two existing funds
At a special meeting to be held virtually on or about October 21, 2024, at 10 a.m. (Montreal time), FÉRIQUE Fund Management will seek the approval of the unitholders of FÉRIQUE’s Asian Equity Fund and European Equity Fund for the reorganization of the these two funds, as well as for changing 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.
Important dates
| Date | Events |
|---|---|
| August 15 | Publication of a press release |
| Sept. 10 | Closing of the registers to establish the unitholders eligible to vote |
| Sept. 20 | Sending of proxy solicitation documents |
| Oct. 21 | Virtual special meeting of unitholders at 10 a.m. |
| Oct. 25 | Expected effective date of the reorganization* |
*Subject to unitholders' approval
Proposed changes
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 sub-managers 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.
The proposed changes are intended to better target asset allocation within investors' portfolios and to simplify the range of FÉRIQUE Funds.
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. Subject to unitholder approval, the proposed changes are expected to take effect on or about October 25, 2024.
A notification and access document, along with proxy forms, will be sent on or about September 20, 2024, to the unitholders of the FÉRIQUE Asian Equity Fund and the FÉRIQUE European Equity Fund registered on 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 this page.
Unitholders of the Asian Equity Fund will vote only on the issue of the reorganization.
Unitholders of the European Equity Fund will vote on the reorganization and on the change in the investment objectives of the European Equity Fund.
If the required approvals are obtained, the FÉRIQUE European Equity Fund, to become the FÉRIQUE International Equity Fund, will change its objectives to the following:
The FÉRIQUE International Equity Fund aims to maximize long-term returns through capital appreciation. The Fund invests primarily in all classes and categories of common shares of companies located primarily in developed markets outside of Canada and the United States.
The Fund’s investment objectives will only be changed with the consent of the majority the Fund’s unitholders who are entitled to vote.
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 (MER) of the FÉRIQUE International Equity Fund by 0.05% (from 1.31% to 1.26%).