TORONTO, March 29, 2018 (GLOBE NEWSWIRE) -- (TSX:HIG.UN) (TSX:TLF.UN) Brompton Funds Limited (the “Manager”), the manager of each of Global Healthcare Income & Growth Fund (“HIG.UN”) and Tech Leaders Income Fund (“TLF.UN” and together, the “Funds”) is pleased to announce that the Funds have filed a final prospectus dated March 28, 2018 with the securities regulatory authorities in each province and territory in Canada, relating to each Fund’s upcoming conversion to an exchange-traded fund (an “ETF”).
At special meetings of unitholders held on February 28, 2018, unitholders of each of the Funds approved the conversion of the respective Funds (the “Conversions”) from closed-end investment funds into ETFs. On or about April 3, 2018, HIG.UN will become Global Healthcare Income & Growth ETF (new TSX ticker symbol: HIG) and TLF.UN will become Tech Leaders Income ETF (new TSX ticker symbol: TLF). Unitholders of either Fund are not required to take any action for their TLF.UN or HIG.UN units to be converted to units of the applicable ETF on a 1:1 basis following the implementation of the Conversions. The Toronto Stock Exchange (the “TSX”) has conditionally approved the continued listing of each ETF on the exchange, subject to the fulfillment of the TSX’s original listing requirements.
In connection with the conversions, the distribution reinvestment plans (“DRIP”) for each of the Funds will be terminated effective April 1, 2018 and a new DRIP for each of the ETFs is expected to be in place in advance of ETFs April 30, 2018 record date for distributions.
About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton’s investment solutions include TSX traded funds, mutual funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email US AT info@bromptongroup.com or visit our website at www.bromptongroup.com.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the Funds on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the Funds and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Funds in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Funds, to the future outlook of the Funds and anticipated events or results and may include statements regarding the future financial performance of the Funds. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.