Goodman & Company, Investment Counsel Ltd., manager of Dynamic Equity Income Fund, said Thursday it ask unitholders of the fund for approval to change the fund’s investment objective.

The fund’s current investment objective is to seek to achieve high income and long term growth of capital through investment primarily in business, resource, real estate, utility and other investment trusts and interest bearing securities.

Changes to the tax treatment of income trusts beginning in January 2011 will result in them generally being taxed at the same rate as corporations, resulting in many income trusts converting to corporations, thus reducing the number of income trusts in which the fund can invest.

In response, the fund proposes to change its investment objective so as to allow it greater flexibility to invest in other forms of issuers, such as corporations, in pursuing its original mandate.

Goodman & Company believes that the interests of unitholders of the fund will be better served by changing the investment objective of the fund to allow it to seek to achieve high income and long term growth of capital by investing primarily in equity securities that pay a dividend or a distribution.

Unitholders of record as of the close of business on September 1 will receive a notice of special meeting to be held on October 13, proxy and management information circular describing the proposed change to the investment objective.

IE