Current News

Notice to Unitholders of Stone Global Growth Fund, Stone Global Sustainability Fund and Stone Growth Fund

Redesignation of Units of the Funds

Stone Asset Management Limited (the “Manager” or “Stone”), in its capacity as manager and trustee of Stone Global Growth Fund, Stone Global Sustainability Fund and Stone Growth Fund (collectively, the “Funds”) is providing notice that effective as of October 28, 2022, the following Series of units of Stone Global Growth Fund, Stone Global Sustainability Fund and Stone Growth Fund will be redesignated as follows based on the applicable Series net asset value per unit of the two Series of units of the applicable Fund on October 28, 2022 (the “Series Redesignation”):

 

Fund Current Series Redesignated Series
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

 

You will not be required to pay any redemption fees, sales charges or other fund fees associated with the Series redesignations. Unitholders should consult their own financial advisors for advice about their specific circumstances.

We believe that the Series Redesignation’s are in the best interests of the existing unitholders. All unitholders will experience an annualized management fee rate decrease of 0.50% as a result of the redesignations.


Do I need to do anything?
No.  The Series Redesignation will occur automatically on October 28, 2022.  There is no action required on your part.


 
How does this affect my investment?
After the Series Redesignation, you:

• will continue to hold units of the same Fund as you currently hold with the same underlying pool of assets, investment objectives, investment strategies and valuation procedures;

• will receive units having the same aggregate market value and cost as the units you currently hold;

• will continue to have the same rights as a unitholder as you did prior to the redesignation; and

• will not experience any increase in management fees or charges due to the Series Redesignation.

The Series Redesignation will not result in a disposition of securities for tax purposes since you are holding the same Fund immediately after the Series Redesignation.


We thank you for entrusting your money with us and look forward to continuing to be of service to you, working with your financial advisor to provide investment solutions for your portfolio. If you have any questions, please contact your financial advisor or Stone Client Service at 1-800-795-1142 or clientservices@stoneco.com.


STONE ASSET MANAGEMENT LIMITED


Notice to Unitholders of Stone American Dividend Growth Fund

Termination of Stone American Dividend Growth Fund

Stone Asset Management Limited (“we”, the “Manager” or “Stone”), in its capacity as manager and trustee of Stone American Dividend Growth Fund (the “Fund”) has determined, in accordance with Section 10.2(5) of the Fund’s Amended and Restated Declaration of Trust dated December 6, 2018, as amended May 7, 2021, to terminate the Fund effective October 28, 2022 (the “Termination Date”).

The decision to terminate was made in consideration of the Fund’s small asset size, limited demand from new investors and high fund operating expenses borne by investors. We believe the termination of the Fund is in the best interest of the existing unitholders.

There are three options available to you:

Option 1 Switch your units of the Fund for units of another Stone Fund any time prior to the Termination Date;
Option 2 Redeem your units, or transfer (in cash) to another institution prior to the Termination Date; or
Option 3 If we do not receive instructions to switch, transfer, or redeem your units prior to the Termination Date, units will be redeemed and the proceeds will be remitted either to your Nominee account, or you will receive a cheque for the amount of the proceeds by mail to the address on our records.

You will not be required to pay any redemption fees, sales charges or other fund fees associated with the termination of the Fund. To discuss your investment options and determine any tax implications associated with redeeming units of the Fund, Stone strongly encourages you to consult with your financial advisor(s).


As a large number of unitholders may wish to redeem their units in advance of the Termination Date, the Manager intends to commence an orderly liquidation of the assets of the Fund as soon as is reasonably practical.


Since our inception in 1995, Stone has maintained our commitment to our core corporate values:

•To help our customers achieve their long-term financial goals beyond just providing a return on their money.

•To provide the best possible customer service by listening and responding to our customers’ needs.

•To conduct our business in the highest professional and ethical manner.

•To satisfy our employees’ desire for professional growth and encourage their participation in our community.

Stone prides itself on following these four corporate values, and it’s our position that to best service our investors in the Fund, we should close the Fund and return your capital.


We thank you for entrusting your money with us and look forward to continuing to be of service to you, working with your financial advisor to provide investment solutions for your portfolio. If you have any questions, please contact your financial advisor or Stone Client Service at 1-800-795-1142 or clientservices@stoneco.com.


STONE ASSET MANAGEMENT LIMITED


Notice to Investors in the Stone Mutual Funds

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.


2021 FundGrade A+® Awards

Congratulations to our Portfolio Management Teams at SAM and Rathbones for their 2021 FundGrade A+® Award Wins!

“It is an honour to be recognized once again at this year’s FundGrade A+® Awards. At Stone we pride ourselves on the strengths of both our in-house Portfolio Managers and the quality of our sub-advisory relationships. These awards recognize Stone Funds in each of our exclusive Pure Total Return® and Pure Growth® mandates, proof that our investment process and philosophy continue to deliver outstanding performance that allows our investors to sleep well, knowing they’ll have the financial resources to live well.”

– Richard G. Stone, Chief Investment Officer, Stone Asset Management Limited


Fund Name

CIFSC Category

Fund Count

FundGrade Start Date
Stone Dividend Growth Class

Canadian Dividend & Income Equity

277

1/31/2012

Stone Global Growth Fund

Global Equity

1127

1/31/2012

The end date for the FundGrade calculation is December 31, 2021.

Since its debut in 2012, The FundGrade A+® award has become a highly prized achievement in the Canadian investment funds industry. The FundGrade A+® award has been accepted and embraced as a truly objective, independent mark of distinction for those funds and fund managers who receive the award. Achieving a FundGrade A+® Rating denotes inclusion in an exclusive group, because around 6% of the investment fund products available in Canada have received a FundGrade A+® rating.


FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.


Lipper Fund Awards 2021


Congratulations to our portfolio managers at SAM for winning back-to-back Lipper Awards!


Stone Dividend Growth Class Series F  | Best Fund Over Past Five Years | Canadian Dividend & Income Equity


“Awards are a recognition of end results. At Stone, this means a commitment to our investment process and our in-house investment managers, and providing service where the customer comes first. Stone Dividend Growth Class also won a Lipper Award last year for its three-year results. We are proud to continue delivering outstanding performance that allows our investors to sleep well, knowing they’ll have the financial resources to live well.”  – Richard G. Stone, Chief Investment Officer


See the full list of winners on globeandmail.com


About Refinitiv Lipper Fund Awards:
For more than 30 years and in over 17 countries worldwide, the highly respected Refinitiv Lipper Awards have honoured funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers and focus the investment world on top-funds. The merit of the winners is based on entirely objective, quantitative criteria. This coupled with the unmatched depth of fund data, results in a unique level of prestige and ensures the award has lasting value. Renowned fund data and proprietary methodology is the foundation of this prestigious award qualification, recognizing excellence in fund management. Find out more at www.lipperfundawards.com

 


Stone Asset Management Limited Launches Two New PTFs on NEO

“Return issuer brings attractive investment opportunities to MFDA and IIROC communities…”

Read more on financialpost.com


Congratulations to our Portfolio Managers at SAM for their 2020 Lipper Fund Awards!

REFINITIV LIPPER FUND AWARDS 2020 WINNER CANADA


Stone Dividend Growth Class Series A  Best Fund Over Past 3 Years  |  Canadian Dividend & Income Equity


Stone Growth Fund Series A  |  Best Fund Over Past 3 Years  |  North American Equity


“The Refinitiv Lipper Fund Awards celebrate exceptional investment management. In a year of dramatic change across the global economy, climate, the environment and political cultures, it has never been more important to have your investments entrusted with talented and experienced professionals. The Refinitiv Lipper Fund Awards recognize those exceptional managers and fund management groups who navigate these changes and steer your savings into outperforming returns”, said Robert Jenkins, Head of Research, Lipper, Refinitiv. “We at Refinitiv congratulate the 2020 Refinitiv Lipper Fund Award winners for delivering outstanding performance to their investors and wish Stone Asset Management Limited continued success.”


Stone Asset Management Limited extends our congratulations to all the other winners who are providing outstanding investment performance for Canadian investors this year.


The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.


Return on Innovation Advisors Ltd. Announces Transaction with Stone Investment Group Limited

TORONTO, June 02, 2020 (GLOBE NEWSWIRE) — Return On Innovation Advisors Ltd., the manager of Return On Innovation Fund Inc. (the “ROI Fund”) announces that it has agreed to enter into a transaction with Stone Investment Group Limited (“SIG”), whereby the portfolio of the ROI Fund will be liquidated to cash and transferred to the Stone Growth Fund (the “Growth Fund”) in exchange for units of the Growth Fund, and shareholders of the ROI Fund will become unitholders of the Growth Fund.  This transaction is subject to the approval of the shareholders of the ROI Fund and securities regulatory authorities, and the completion of the formal exchange transaction between the ROI Fund and the Growth Fund.  Stone Asset Management Limited (“SAM”) is a wholly owned subsidiary of SIG and is the trustee, manager and portfolio advisor for the Growth Fund. The Growth Fund is a mutual fund trust, and one of a family of mutual funds offered by SAM (the “Stone Funds”).  The Stone Funds are distributed by prospectus throughout Canada by brokers and mutual fund dealers. If approved, the transaction is expected to close on or about July 30, 2020. Further information regarding the proposed transaction will be mailed to shareholders of the ROI Fund shortly.

About ROI Capital

Established in 2002, ROI Capital is a privately held Canadian investment management firm that specializes in commercial mortgages, loans and private investments. Website: www.roicapital.ca


Stone Business Continuity Update

To Our Valued Clients and Partners,

As we enter the new reality created by COVID-19 (coronavirus) and its continued impact on the global community, I am writing to personally update you on the measures Stone is taking to ensure our business continuity.

In keeping with the most recent guidance from the World Health Organization, Stone has enacted our Business Continuity Plan, with special consideration given to the implications of COVID-19.  In this current environment, the well-being of our employees, clients and partners is our primary focus and social distancing will be of paramount importance.

Effective Monday March 16, all Stone employees will be working remotely and leveraging our technology platforms to communicate virtually. Our Toronto office will remain closed until further notice. Rest assured our remote working policies have been rigorously tested and we are confident we can continue to support our business functions and provide exemplary customer service with minimal disruption.

I am sharing this link to a comprehensive overview of the realities of COVID-19 which has provided our management team with great insight. As this is a very fluid situation, we will continue to provide regular updates by email as events unfold.

At present we are thankful that the entire Stone team is well, and we remain available for your questions and feedback. We welcome discussions and sharing of information as we navigate this challenging environment together.

We thank you for your continued support and we wish you and your loved ones good health in the coming weeks.

Sincerely,

Richard G. Stone, CEO


Stone Investment Group Limited Reports Annual Results

Read More