Marquest Asset Management is to sell 14 of its retail mutual funds to Stone Investment Group.
The funds to be sold are: Marquest Monthly Pay Fund; Marquest American Dividend Fund; Marquest Covered Call Canadian Bank Plus Fund; Marquest Global Balanced Fund; Marquest Monthly Pay Fund – Corporate Class; Marquest American Dividend Growth Fund – Corporate Class; Marquest Covered Call Canadian Bank Plus Fund – Corporate Class; Marquest Canadian Resources Fund; Marquest Small Companies Fund; Marquest Canadian Bond Fund; Marquest Canadian Fixed Income Fund; Marquest Money Market Fund; and Marquest Canadian Resource Fund – Corporate Class; Marquest Short Term Income Fund – Corporate Class.
The transaction is expected to close on 31 August 2018, subject to the receipt of regulatory and securityholder approvals. An information circular will be mailed to securityholders of the Funds in the near future.
“Stone could not be more excited about this acquisition because many of these Funds are an excellent complement to our firm’s Pure Total Return and Pure Growth mandates,” says Stone Founder and Chief Executive Officer, Richard Stone. “Through our firm’s disciplined investment process, we can create additional value for investors and advisors by expanding Stone’s fund family within a framework that aligns with our values and expertise.”