TORONTO, April 24, 2018 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (Ninepoint Partners) today announced the following changes.
Changes to Ninepoint UIT Alternative Health Fund
Ninepoint Partners and Purpose Investments Inc., which has amalgamated with its wholly-owned subsidiary, Redwood Asset Management Inc. announced that they successfully closed the previously announced transaction pursuant to which Ninepoint Partners has purchased the right to manage the Ninepoint UIT Alternative Health Fund (formerly UIT Alternative Health Fund) (the UIT Fund), effective April 16, 2018. Pursuant to the transaction, Ninepoint Partners has become the manager and trustee of the UIT Fund. The UIT Fund will continue to be sub-advised by Faircourt Asset Management Inc.
Unitholders of the UIT Fund approved the transaction at a special meeting held on March 19, 2018. Regulatory approval was also obtained.
Change of Trustee:
Effective April 23, 2018, the trusteeship of the Funds listed in Schedule “A” was assumed by Ninepoint Partners from RBC Investor Services Trust.
Risk Rating Change to Certain Funds:
Effective April 23, 2018, the risk rating of Ninepoint Global Real Estate Fund has changed from “Medium” to “Medium to High”, the risk rating of Ninepoint Global Infrastructure Fund has changed from “Low to Medium” to “Medium” and the risk rating of Ninepoint Enhanced US Equity Class has changed from “Medium” to “Low to Medium”. These changes are a result of Ninepoint Partners adopting the risk classification methodology mandated by the Canadian Securities Administrators.
Monthly Distribution Change to Certain Funds:
The manager also announced the target monthly distribution for Series T, Series FT, Series PT, Series PFT, Series QT, and Series QFT securityholders of Ninepoint Diversified Bond Fund and Ninepoint Diversified Bond Class will change from approximately 6% per annum to approximately 4% per annum, effective May 31, 2018.
About Ninepoint Partners
Ninepoint Partners is an independent investment manager committed to adding value to investors’ portfolios while helping to differentiate advisors’ businesses.
Based in Toronto, Ninepoint Partners has assumed portfolio management of the Canadian diversified assets of Sprott Asset Management (SAM), including actively managed hedge and mutual funds, while also offering leading resource and precious metals strategies through an exclusive sub-advisory relationship with SAM. The new firm oversees approximately $3 billion in assets under management.
Please visit www.ninepoint.com to learn more.
Sales Inquiries:
Ninepoint Partners LP
Richard Goode
416-945-6227
1-888-362-7172 ext. 6227
rgoode@ninepoint.com
Media Inquiries:
Goldman Communications Inc.
Corey Goldman
416-322-2863
corey@goldman-communications.com
www.goldman-communications.com
Schedule “A” – Funds
Ninepoint Enhanced Balanced Fund
Ninepoint Global Infrastructure Fund
Ninepoint Global Real Estate Fund
Ninepoint Diversified Bond Fund
Ninepoint Energy Fund
Ninepoint Gold Bullion Fund
Ninepoint Silver Bullion Fund
Ninepoint Gold and Precious Minerals Fund
Ninepoint International Small Cap Fund
Ninepoint Concentrated Canadian Equity Fund
Ninepoint Enhanced Equity Class
Ninepoint Enhanced U.S. Equity Class
Ninepoint Enhanced Balanced Class
Ninepoint Focused Global Dividend Class
Ninepoint Focused U.S. Dividend Class
Ninepoint Diversified Bond Class
Ninepoint Short‐Term Bond Fund
Ninepoint Short‐Term Bond Class
Ninepoint Silver Equities Class
Ninepoint Real Asset Class
Ninepoint Resource Class