TORONTO--(BUSINESS WIRE)--Foresters Financial Investment Management Company of Canada Inc., the manager of the imaxx Money Market Fund (the Fund), announced today that it will seek the approval of unitholders to change the Fund to a short term bond fund. The Manager proposes to rename the Fund as imaxx Short Term Bond Fund and to change the investment objective of the Fund to the following:
The imaxx Short Term Bond Fund's investment objective is to preserve capital and liquidity while generating an attractive level of interest income. The Fund will invest in short term fixed income securities and money market instruments issued by governments, supranational agencies and corporations.
A special meeting of Unitholders to consider the proposed change will be held on or about May 10, 2017. If Unitholder approval is obtained, the benchmark index for the Fund will be the FTSE TMX Short Term Bond Universe index. The Fund’s risk rating of “low” will be unchanged. If the change is approved, the Fund will no longer be a “money market fund” for purposes of securities legislation.
About Foresters Financial Investment Management Company of Canada Inc.
Foresters Financial Investment Management Company of Canada Inc. offers six imaxxFunds™ to Canadian investors – featuring core fund offerings from an investment manager with a proven performance track record. An affiliate, Foresters Asset Management Inc., oversees approximately $10 billion1 in retail, institutional, third party and asset liability matching investments, and is the portfolio manager of the imaxx mutual funds.
About Foresters Financial
Foresters Financial™ is an international financial services provider with more than three million clients and members in Canada, the United States and the United Kingdom. Foresters Financial provides investment, life insurance, savings and retirement solutions that help families achieve their financial goals and make a lasting difference in their lives and communities.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurances that the Fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the Fund will be returned to you. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Copyright © Foresters Financial Investment Management Company of Canada Inc. 2017. All rights reserved.
Foresters Financial and Foresters are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9) and its subsidiaries.
For further information, please contact your financial advisor or call Andrew Berwick, VP, Marketing at Foresters Financial Investment Management Company of Canada Inc., 800-983-6439, or visit our website at imaxxwealth.com.