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Notice to Investors in the Stone Mutual Funds

Date: April 22, 2022

NOTICE TO INVESTORS IN THE STONE MUTUAL FUNDS

Stone Dividend Growth Class, Stone Growth Fund, Stone Dividend Yield Hog Fund, Stone Covered Call Canadian Banks Plus Fund, Stone American Dividend Growth Fund, Stone Global Balanced Fund, Stone Global ESG Strategy Fund, Stone Global Growth Fund and Stone Global Sustainability Fund (collectively, the “Stone Mutual Funds“)

 


Re:         Acquisition of Stone Investment Group Limited by Starlight Investments Capital LP and Change of Control of the Manager of the Stone Mutual Funds, Notice under Section 5.8(1)(a) of NI 81-102

 


On April 7, 2022, Stone Investment Group Limited (“Stone” or the “Company“) and Starlight Investments Capital LP (“Starlight Capital“) announced that they have entered into an arrangement agreement pursuant to which Starlight Capital, through a wholly-owned subsidiary, will acquire Stone through a series of transactions. On completion of the transactions, Stone Asset Management Limited (“SAM“), a wholly-owned subsidiary of Stone and manager of the Stone Mutual Funds, will become an indirect wholly-owned subsidiary of Starlight Capital.  This will result in a change of control of SAM for purposes of National Instrument 81-102 – Investment Funds (“NI 81-102“).  This notice is provided to the investors in the Stone Mutual Funds in accordance with NI 81-102.  You are not required to take any action as a result of these transactions.

 


Starlight Capital is an independent asset management firm offering mutual funds, exchange-traded funds, offering memorandum funds and structured products. Starlight Capital is a leading independent investment manager that is focused on helping Canadian investors realize their financial goals. Starlight Capital is a wholly-owned subsidiary of Starlight Investments, a privately-held real estate investment and asset management company with over $25.0 billion of assets under management.

 


Stone is an independent wealth management company offering the Stone Mutual Funds and private managed accounts. The boards of directors of each of Starlight Capital and Stone believe that the combination of the two businesses will create additional depth in investment and client service.  It is expected that all key personnel to the Stone Mutual Funds will continue to serve following the change of control.

 


The closing of Starlight’s acquisition of Stone is subject to receipt of all necessary approvals and customary closing conditions, including the non-objection of Canadian securities regulators and approval by the shareholders of Stone. It is expected that the transactions will close in mid-June 2022.

 


For further information please review the joint press release issued on April 7, 2022 outlining the transactions.

 


Should you have any questions about this notice, please contact your advisor, or feel free to contact us at (416) 364-9188 or by e-mail at clientservices@stoneco.com.