Mavrix Fund Management Inc. today proposed a change to the fundamental investment objective of Mavrix Multi Series Fund Ltd. – Canadian Equity Series to the provision of a high return through a combination of long-term capital growth and income, from the provision of long-term capital growth.
The proposed change results from the proposed merger of Mavrix Canada Fund into Mavrix Income Fund, which is proposed to take effect on June 30, subject to unitholder and regulatory approval, as previously announced by Mavrix.
Following the merger, Mavrix Multi Series Fund Ltd. – Canadian Equity Series will not be able to invest in units of Mavrix Canada Fund as Mavrix Canada Fund will be terminated.
Accordingly, Mavrix Canada Fund will be replaced by Mavrix Income Fund (which will be renamed Mavrix Balanced Monthly Pay Fund) as one of the two underlying funds (along with Mavrix Sierra Equity Fund) in which the Canadian Equity Series will invest.
The proposed change in the Canadian Equity Series’ fundamental investment objective reflects this change in the underlying funds.
If the required approvals are obtained, the change of the fund’s fundamental investment objective will be implemented on June 30.
The proposed change is subject to unitholder and regulatory approval.