Announces Intention To Proceed With Open-End Mutual Fund Merger
TORONTO, Nov. 12 /CNW/ - JovFunds Management Inc. ("JovFunds"), the manager of
Charterhouse Preferred Share Index Corporation ("Charterhouse"), is pleased to
announce today its intention to proceed with a merger of Charterhouse into a
new open-end mutual fund trust (the "Merger"). The primary investment objective
of the new fund will be to generate high dividend income while protecting
capital by investing primarily in preferred shares of Canadian companies and
other income generating securities.
The Merger is expected to be completed within 90 days and is subject to all
required regulatory and third party approvals. JovFunds has the authority to
delay or terminate the proposed Merger if it determines that it would be
necessary or desirable to do so, including if holders of a significant
percentage of preferred shareholders of Charterhouse elect to exercise the
annual retraction right prior to the November 15, 2008 deadline.
"We are excited with the prospect of proceeding with this merger and the
opportunity to open this innovative fund to new investors", said Steve Hawkins,
President of Charterhouse and Managing Partner of JovFunds.
About JovFunds Management Inc. (www.jovfunds.com)
JovFunds provides innovative investment solutions for Canadians through the
creation, distribution and management of high quality investment products.
JovFunds manages and distributes in excess of $2.2 billion in client assets and
is wholly owned by Jovian Capital Corporation.
About Jovian Capital Corporation (www.joviancapital.com)
Jovian acquires, creates and grows financial services companies specializing in
wealth and asset management. The Jovian group of companies (MGI Securities
Inc., MGI Securities (USA) Inc., Rice Financial Group Inc., BetaPro Management
Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc.,
JovInvestment Management Inc., Leon Frazer & Associates Inc., T.E. Wealth and
Felcom Data Services Inc.) manages $14.0 billion of client assets ($6.0 billion
in assets under management and $8.0 billion in assets under administration).
Additional information is available at www.joviancapital.com and www.sedar.com.
For further information: Steven Hawkins, Managing Partner, JovFunds Management
Inc., (416) 601-2442; or Don Sangster, Investor Relations, Jovian Capital
Corporation, (416) 933-5744
CO: Charterhouse Preferred Share Index Corporation
NI: FIN MNA
-0- Nov/12/2008 22:24 GMT
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