Toronto-based Marquest Asset Management Inc. announced on Friday a change in the risk level to seven funds.
The following six funds have had their risk ratings changed to “low to medium” from “medium”: Marquest Monthly Pay Fund, Marquest Monthly Pay Fund (Corporate Class), Marquest Covered Call Canadian Banks Plus Fund, Marquest Covered Call Canadian Banks Plus Fund (Corporate Class), Marquest American Dividend Growth Fund and Marquest American Dividend Growth Fund (Corporate Class).
In addition, Marquest Global Balanced Fund has had its risk rating changed to “low” from “medium.”
The modified risk classifications are a result of the firm’s annual review of its funds’ investment risk levels. Risk ratings for the firm’s funds are determined in accordance with the methodology recommended by the Investment Funds Institute of Canada’s fund risk classification task force, according to Marquest’s statement.
The announcement also notes that the new risk ratings do not signify changes to the investment objectives, strategies or portfolio management of the affected funds.
These changes will be reflected in the simplified prospectus for the funds, which will be filed with Canadian securities regulators in connection with the funds’ 2015 annual renewal.