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Stone Asset Management to terminate Stone & Co Growth Industries Fund


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.

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