Not for dissemination to U.S. Newswire Services or for dissemination in the United States of America
TORONTO, Dec. 12, 2017 (GLOBE NEWSWIRE) — Energy Credit Opportunities Income Fund (the “Fund”) (TSX:PCF.UN) (TSX:PCF.U) today provided further details concerning a special redemption right to be offered to unitholders of the Fund who do not wish to hold the Fund following its proposed conversion to an actively managed open-end fund with ETF and mutual fund units (the “ETF Conversion”). The Special Meeting of the unitholders of the Fund to approve the ETF Conversion is to be held on December 13, 2017. Upon the ETF Conversion, the management fee of the Fund will be reduced from 1.00% to 0.70%, which represents another significant enhancement to the Fund. The details of the ETF Conversion are described in a management information circular that has been mailed to unitholders of record as of November 7, 2017.
A unitholder who does not wish to remain invested in the Fund, may redeem their Class A or Class U Units, as the case may be, on December 27, 2017 (the “Special Redemption Right”) for a redemption price equal to the net asset value per Class A Unit or Class U Unit, as applicable, as of the effective date of the redemption provided that such unitholder gives notice that they wish to exercise the Special Redemption Right at any time prior to December 22, 2017. Redemption proceeds will be paid on December 29, 2017. Unitholders should contact their broker or nominee if they wish to exercise their Special Redemption Right.
About Purpose Investments Inc.
Purpose Investments Inc. is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors. Purpose has over $3.6 billion in assets under management and currently offers 35 exchange traded funds and mutual funds and 7 closed-end funds across multiple asset classes and both traditional and alternative investment strategies. Redwood Asset Management, a wholly owned subsidiary of Purpose, is a Toronto-based investment fund manager focused on delivering unique investment solutions managed by boutique global investment managers to Canadian investors.
For further information please contact:
Purpose Investments Inc.
Tel: (877) 789-1517
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.