JovFunds Management Inc. has called a special meeting of unitholders of the Jov Talisman Fund to approve changes to the investment objective and strategies of the fund and to approve the conversion of the fund into an actively managed Exchange Traded Fund (ETF).
If approved, the fundamental investment objective of the fund will be to achieve long-term capital growth by investing primarily in equity securities that are constituents of the S&P/TSX 60 Index.
The meeting will be held on Dec. 1. If approved by unitholders, the fund will be re-launched, subject to regulatory approval, in December 2008 through a reorganization of the Series A, F and I units of the fund into the newly created series E units, and a name change.
Upon approval, the fund will be one of the first actively managed ETFs offered in Canada listed on the TSX. It will be actively rebalanced, provide inter-day liquidity and will have a lower MER.
Additionally, JovFunds and the advisor to the fund, JovInvestment Management Inc., have entered into an agreement with Ron Meisels, with immediate effect, to provide JovInvestment with exclusive access to his analytical and technical research services for such purposes.
Meisels has been an active analyst since 1971 and is the president and founder of Phases & Cycles Inc., a firm specializing in the independent research of Canadian securities. He is the editor for all Phases & Cycles publications including its TOP 60 portfolio report, researching the best candidates among S&P/TSX 60 Index.
Effective immediately, Strategic Analysis (1994) Corp. will cease to be the sub-advispr of the fund. JovInvestment will continue to act as portfolio manager of the fund.
“We are excited to gain access to the analytical and technical research that Ron provides,” says Adam Felesky, CEO of JovFunds and BetaPro Management Inc. “Ron’s extensive knowledge and experience in technical analysis of the S&P/TSX 60 will provide strong support for the fund’s adviser, JovInvestment, and the launch of this product.”
Prior to founding Phases & Cycles, Meisels was v.p. and director of technical research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990 where he was ranked among the top three technical analysts by Canadian Institutions for six consecutive years in the Brendan Wood Survey. Meisels is also the founder and first President of the CSTA (Canadian Society of Technical Analysis) and the first Secretary of the International Federation of Technical Analysts (IFTA).
JovFunds proposes to convert Jov Talisman Fund into actively managed ETF
Fund will have exclusive access to Ron Meisels’ technical and analytical research
- By: IE Staff
- October 14, 2008 October 14, 2008
- 08:45