Canoe Financial Responds to 2013 Federal Budget Announcement
CALGARY, ALBERTA - April 1, 2013 – Canoe Financial LP, one of the fastest growing mutual fund companies in Canada, today responded to the announcement by the Minister of Finance on March 21, 2013 that measures are being introduced which would affect certain tax benefits gained by taxable shareholders of investment funds that utilize forward purchase and sale agreements to obtain exposure to an underlying reference portfolio. Canoe understands that further clarification will be issued by Finance on a number of points. Pending that clarification, Canoe will review the implications to the Canoe Enhanced Income Class and Canoe Bond Advantage Class, which are the only funds currently utilizing forward purchase and sale agreements, and will provide additional details to shareholders as soon as it is in a position to do so. In the interim, the forward agreement strategy will continue in these funds for approximately 180 days.
About Canoe Financial LP
Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its ‘GO CANADA!’ investment thesis reflects Canoe’s strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada’s sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.
Canoe is one of Canada’s fastest-growing mutual fund companies and currently manages approximately $1.7 billion in assets as at February 28, 2013 through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.
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Canoe Financial LP
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Important information regarding the Funds, including conditions of purchase, investment strategy, distribution policy, management fees, and expenses, are set out in the Funds' Simplified Prospectus and Annual Information Form which are available on Canoe’s website at www.canoefinancial.com or SEDAR at www.sedar.com. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed and their values change frequently. These funds are new and there is no history of performance associated with these Funds. This communication is for information purposes only and is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document which should be read carefully before making any investment. Investors should consult their Investment Advisor for complete details and risk factors on specific strategies and various investment products.
This communication may contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated, and should not be unduly relied upon. Canoe does not undertake any obligation to publicly update or revise any forward-looking statements. Market conditions may change and Canoe accepts no responsibility for individual investment decisions arising from the use or reliance on the information contained herein.