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 ST: Ontario NI: FIN MNA -0- Nov/12/2008 22:24 GMT
Charterhouse Preferred Share Index Corporation (PFD.PR.A)
Press spacebar to pause and continue. Press esc to stop.