TORONTO--(BUSINESS WIRE)--Marquest Asset Management Inc. (“Marquest”) and Stone Investment Group Limited (“Stone”) are pleased to announce that the firms have entered into a binding agreement for Stone to acquire the management contracts of certain of Marquest’s retail mutual funds, as listed below:
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
Marquest Canadian Resource Fund - Corporate Class
Marquest Short Term Income Fund - Corporate Class
(collectively, the “Funds”).
The transaction is expected to close on August 31, 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,” said 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.”
About Marquest Asset Management Inc.
Marquest is a Canadian investment firm based in Toronto, which provides diversified asset and wealth management for both individuals and institutional investors.
About Stone Investment Group Limited
Stone Investment Group Limited is an independent, Canadian-owned wealth management company and the parent company to its wholly owned subsidiary, Stone Asset Management Limited (“SAM”). SAM is an active asset manager, providing investment management services via distinctive investment mandates, overseen daily by the disciplined execution of a proprietary investment process and investment philosophy. Access to SAM investment mandates can be achieved via a family of open-ended mutual funds, a pooled fund, and Private Wealth Management services. SAM’s expertise ranges from servicing Canada’s retail investors and working with their financial advisors to the complexities of working directly with Family Offices, endowments and foundations.
At Stone, we want our investors to sleep well, knowing they’ll have the financial resources to live well.
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 guaranteed, their values change frequently and past performance may not be repeated.