(Toronto, ON, August 21, 2018) – Foresters Asset Management Inc., the manager of the imaxx Global Equity Growth Fund (the “Fund”), is pleased to announce that the change to the Fund’s investment objective that was approved at a special meeting of unitholders of the Fund held on May 15, 2018, takes effect today.
Effective today, the Fund’s name is changed to the imaxx Global Fixed Pay Fund and the investment objective of the Fund is as follows:
The imaxx Global Fixed Pay Fund's investment objective is to generate long-term capital appreciation and income by investing primarily in a combination of equity and fixed income investments from around the world.
As a result of the change of the investment objective of the Fund, the investment strategies of the Fund have also been revised to reflect the Fund’s position as a global equity balanced fund and the Fund’s risk rating has changed from “medium” to “low to medium.”
Also, effective today, the Fund’s management fees are reduced to 2.00% from 2.10% for Class A0, Class A3 and Class A4 Units and to 1.00% from 1.10% for Class F0, Class F3 and Class F4 Units.
For Class A3, F3, A4 and F4 Units, the Fund expects to make a fixed monthly distribution from its net income, net realized capital gains and, to the extent necessary, a return of capital (net of expenses), with a targeted start date of October 22, 2018. The expected target distribution rate for Class A3 and F3 Units is $0.03 per Unit per month. The expected target distribution rate for Class A4 and F4 Units is $0.04 per Unit per month.
About Foresters Asset Management Inc. (“FAM”)
FAM offers six imaxxFunds™ to Canadian investors – featuring core fund offerings from an investment manager with a proven performance track record. In total, FAM oversees approximately $10 billion CAD in retail, institutional, third party and asset liability matching investments.
About Foresters Financial
Foresters Financial is an international financial services provider with more than three million clients and members in Canada, the United States and the United Kingdom. Foresters Financial provides life insurance, savings, retirement and investment solutions that help families achieve their financial goals and make a lasting difference in their lives and communities. Foresters Financial has assets of $17.7 billion, liabilities of $15.7 billion, total funds under management of $45.1 billion and a surplus of $2 billion (all figures in Canadian dollars as of December 31, 2017). For more information, visit foresters.com.
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