Acker Finley Asset Management Inc., the trustee and manager of QSA e-business Fund says it will seek unitholder approval to change the investment objective and name of the fund.

The investment objective of the fund will be changed from “to provide investors with above average capital growth over the long term by investing primarily in Canadian, and U.S. and other foreign companies that are using information technology, such as the Internet, to execute their business strategy” to “to provide investors with strong capital growth over the long term by investing in equity securities – principally common shares of a group of US companies selected from the S&P 500 Index”.


It is also proposing to change the name of the fund to QSA US Value 50 Cdn$ Fund, and to use specified derivatives for hedging purposes only.

The meeting of unitholders to consider the proposed changes is scheduled to be held on December 23. If approved, the change in investment objective and the name of the fund will take place on or about December 23, and the use of specified derivatives for hedging purposes by the fund will commence on or about Jan. 31, 2004.

Effective the close of business on November 21, the fund ceased distribution of new units pending the outcome of the unitholder meeting on December 23.