Bringing you live news and features since 2006 

Stone Asset Management to terminate Stone & Co Growth Industries Fund

RELATED TOPICS​

Stone Asset Management (SAM), the Trustee and Manager of the Stone & Co Growth Industries Fund is to terminate the Fund on or about 24 June, 2016 (the "Termination Date"). 

As a result of the termination, subscriptions for units of the Fund will not be accepted after 18 March, 2016 at 4:00 pm.

The decision to terminate was made in consideration of the Fund's small asset size (approximately USD2 million as of 17 March, 2016) and limited demand from new investors, making it uneconomic to fulfil the Fund's objective. SAM believes the termination of the Fund is in the best interest of the existing unitholders.

Unitholders may redeem or switch their units on or prior to the Termination Date. SAM will liquidate the holdings of the Fund at fair market value, determine distributions, and on the Termination Date distribute the net assets to remaining unitholders. SAM will waive any redemption fees, sales charges, or short-term trading fees associated with redeeming units of the Fund.

Pursuant to applicable securities legislation, SAM will provide a written notice to unitholders no less than 60 days prior to the Termination Date.

To discuss their investment options and determine any tax implications associated with redeeming units of the Fund, SAM strongly encourages unitholders to consult with their financial advisors.

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by