Sceptre Investment Counsel Limited has called for special meeting of unitholders of the Sceptre Income & High Growth Trust (TSX:SZH.UN) to consider changes to the fund’s investment strategy, among other changes.

The proposed changes include:

    expanding the trust’s investment strategy to include additional asset classes and a wider range of allowable investments within those asset classes;

  • calculating and disclosing the trust’s net asset value daily instead of weekly;
  • reducing management fees to 1.05% from 1.10%;
  • merging Sceptre Income & High Growth Trust with Sceptre Income & Growth Trust and converting the trusts to an open-ended mutual fund;
  • delisting the trusts’ units from the Toronto Stock Exchange to reduce costs;
  • appointing Return on Innovation Management Ltd. (ROI) as trustee and manager; and
  • introducing seven new series of the merged fund, which will offer different distribution, purchase options and management fees.



Sceptre believes that it is in the best interests of the unitholders of the trust to approve the proposed changes, since it better positions the trusts to achieve their respective investment objectives and create more value for unitholders.

The meeting will will be held on June 22 in Toronto.

Sceptre Investment Counsel Ltd. is an independent investment management firm with assets under supervision of approximately $9 billion.

ROI Capital Ltd. manages the ROI Fund, ROI Sceptre Canadian Pension Fund, ROI Global Pension Fund, and ROI High Yield Private Placement Fund.