October 30, 2019, Toronto, Caldwell Investment Management Ltd. announced the completion, effective today, of the previously announced merger of Clearpoint Global Dividend Fund and Caldwell U.S. Dividend Advantage Fund. Furthermore, the Caldwell U.S. Fund is the continuing fund.
The said merger was effected on a tax-deferred basis with the funds not being responsible for any of the costs and expenses associated with the merger. Furthermore, they were borne by the manager of the funds Caldwell Investment Management Ltd.
Series A units of Clearpoint Global Fund were exchanged for Series A units of Caldwell U.S. Fund in accordance with an exchange ratio of 0.6527 units of Caldwell U.S. Fund per unit of Clearpoint Global Fund, pursuant to the merger. Series F units of Clearpoint Global Fund were exchanged for Series F units of Caldwell U.S. Fund in accordance with an exchange ratio of 0.7781 units of Caldwaldwell U.S. Fund in accordance with an exchange ratio of 0.7781 units of Caldwell U.S. Fund per unit of Clearpoint Global Fund. Visit this link if you’re curious to learn more.
The exchange ratios were calculated based on the net asset value per unit of the respective Series for each fund as of the close of business on October 29, 2019. Furthermore, the former unitholders of Clearpoint Global Fund are not required to take any action in order to be recognized as unitholders of Caldwell U.S. Fund.
Unitholders of Caldwell U.S. Fund are not required to take any action as they will continue as unitholders of Caldwell U.S. Fund.
Investment Management Ltd. Background
Caldwell Investments has considerable expertise in the management of dividend-paying equity mandates. This is with particular emphasis on funds focused on issuers domiciled in Canada and the U.S. This is consistent with the investment approach implemented by the GDF Fund over the past several years.
Established in 1990, Caldwell Investment Management Ltd. offers investment management services to pooled and mutual funds. Furthermore, the firm has established and maintained its reputation for excellence in the investment management industry. They provide innovative investment solutions to meet the requirements of individual and institutional investors. Due to this, Caldwell was awarded the FundGrade A+ Award for the year 2018 in respect of the Caldwell Canadian Value Momentum Fund.
(Disclaimer : We are not associated with Caldwell Investment Management)