JovFunds Management Inc., the manager and trustee of the Long Reserve Life Resource Fund, has named its wholly owned subsidiary, 2197039 Ontario Inc. (TrusteeCo), as manager of the fund.
JovFunds says it has entered into an agreement with Lawrence Asset Management Inc. to purchase TrusteeCo in a transaction that closed yesterday.
Unitholders of the fund approved a proposed conversion of the fund to an open-ended mutual fund trust and approved certain changes to the investment restrictions applicable to the new fund at meetings held in 2007 and 2008.
LAMI says it expects that, pending regulatory approval, the fund will be renamed Navina Global Resource Fund and that it will convert the fund into an open-ended mutual fund trust.
JovFunds is wholly owned by Jovian Capital Corp. Lawrence Asset Management Inc. is a specialized global asset management firm with interests and investments in Canada and around the world.
JovFunds names new manager for Long Reserve Life Resource Fund
Fund to be renamed and converted to open-ended mutual fund trust
- By: IE Staff
- August 9, 2009 August 9, 2009
- 12:22
IE Staff