TORONTO, April 13, 2018 - Foresters Asset Management Inc. (“FAM” or the “Manager”), today announced changes to the distribution rate for the A8 and F8 classes of the imaxx Canadian Fixed Pay Fund (the “Fund”). These changes will take effect in June, 2018.
The Fund will be lowering its distribution rate for A8 and F8 class units from $0.08 per unit per month to $0.02 per unit per month. The change to the distribution rate will be implemented in June 2018 after the renewal of the imaxxFunds Simplified Prospectus in May 2018. The A8 and F8 classes will be renamed the A2 and F2 class, respectively. The Manager will not be making any further changes to the Fund and will be retaining the: A0, A3, A5, F0, F3 and F5 classes of the Fund and their respective target distribution rates.
FAM is making this change now to preserve the net asset value of the Fund and to provide distribution levels that FAM considers more appropriate for current market conditions and more sustainable for the long term, which FAM believes is what investors are looking for from the Fund.
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. Overall, FAM oversees approximately $10 billion for retail, institutional, and third party clients and is the investment fund manager and portfolio manager of the imaxx mutual funds.
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 investment, life insurance, savings and retirement solutions that help families achieve their financial goals and make a lasting difference in their lives and communities.
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or visit our website at imaxxwealth.com.