Deans Knight Income and Growth Fund is temporarily suspending the redemption of units of the fund for a period of up to 120 days, JovFunds Management Inc. said late Friday.

“This suspension follows careful consideration by JovFunds and Deans Knight Capital Management Ltd., the sub-advisor to the fund, regarding the best interests of all unitholders, the fund’s current liquidity situation and its pending annual redemption,” JovFunds said in a release.

Deans Knight is in the process of rebalancing the portfolio by liquidating certain debt instruments, which is expected to occur during the 120-day period.

“However, since there is no certainty of such liquidation before the pending annual redemption date, the decision to suspend redemptions was a necessary one to allow the fund time to achieve the liquidity that may be required to meet potential redemption requests,” JovFunds said.

Unitholders may still submit requests for redemption during the suspension period, which will be held until the suspension of redemptions is lifted.

IE