Toronto-based Faircourt Asset Management Inc. is migrating two closed end funds to the NEO Exchange from the Toronto Stock Exchange (TSX), Aequitas NEO Exchange Inc. announced Wednesday.
Faircourt Split Trust, including both units (FCS.UN) and preferred securities (FCS.PR.C), and Faircourt Gold Income Corp. (FGX) will be voluntarily delisted from the TSX effective Dec. 20, and begin trading on NEO on Dec 21, NEO says in a news release.
“We look forward to migrating our funds to NEO later this week and begin realizing costs savings with our listing fees. We are committed to pass along these savings to our securityholders,” says Charles Taerk, president and CEO, Faircourt, in a statement.
“We are pleased to welcome Faircourt to NEO and are proud to see yet another fund company realize the positive impact and cost savings we can enable for investors,” adds Jos Schmitt, president and CEO, NEO.
NEO Exchange is currently home to eight corporate listings and more than 65 investment fund listings from 11 Canadian providers.