Stone Asset Management Announces Redesignation of Units of Stone Global Growth Fund, Stone Global Sustainability Fund and Stone Growth Fund, and Termination of Stone American Dividend Growth Fund
Toronto ON – September 13, 2022 Stone Asset Management Limited (the “Manager” or “SAM”), the manager and trustee of Stone Global Growth Fund, Stone Global Sustainability Fund, Stone Growth Fund and Stone American Dividend Growth Fund (collectively, the “Funds” and each a “Fund”), is announcing today that the following series of units of Stone Global Growth Fund, Stone Global Sustainability Fund and Stone Growth Fund will be redesignated as set out in the chart below based on the applicable series net asset value per unit of the two series of units of the applicable Fund on October 28, 2022.
| Fund | Current Series | Redesignated To |
| Stone Global Growth Fund | Series B | Series A |
| Series L | Series A | |
| Stone Global Sustainability Fund | Series B | Series A |
| Series L | Series A | |
| Stone Growth Fund | Series B | Series A |
| Series L | Series A | |
| Series T8B | Series T8A | |
| Series T8C | Series T8A |
All investors will experience an annualized management fee rate decrease of 0.50% as a result of these redesignations. Notice of the redesignations was mailed on September 13, 2022 to unitholders of record on September 7, 2022.
The Manager is also announcing that it has determined, in accordance with Section 10(2)(5) of Stone American Dividend Growth Fund’s Amended and Restated Declaration of Trust dated December 6, 2018, as amended May 7, 2021 (the “Declaration of Trust”), that the aggregate series net asset value of the Fund is insufficient to warrant the cost of continuing the administration of the Fund. As a result, the Manager has determined to terminate the Fund on or about October 28, 2022 (the “Termination Date”). Investors will have the opportunity to switch their units to another Stone Fund prior to the termination date and are encouraged to consult with their Investment Advisor. All of the issued and outstanding units (the “Units”) of the Fund will be redeemed by the Fund on the Termination Date.
Redemption proceeds will be paid on or before November 1, 2022. Unitholders will receive payment of the series net asset value per Unit to be redeemed. Unitholders are not required to take any action in connection with the final redemption. The Manager encourages all unitholders to consult with their Investment Advisor to understand the financial and tax implications associated with redeeming or switching their Units.
Notice of the Termination Date was mailed on September 13, 2022 to unitholders of record on September 7, 2022.
For further information please contact Stone Client Services at 1-800-795-1142 or clientservices@stoneco.com.
About Stone Asset Management Limited
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 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.
