Canoe Financial Acquires O’Leary Funds

February 25, 2016

On February 17, 2016, Canoe Financial announced the acquisition of the assets and contracts of the O’Leary Funds, which as a result are re-branded as Canoe funds.


With the completion of this transaction, Stanton Asset Management Inc. will remain as sub-advisor for Canoe Canadian Corporate Bond Fund, which was formerly known as O’Leary Canadian Bond Yield Fund. In addition, Aegon USA Investment Management, LLC (“AUIM”) was appointed sub-advisor for the following funds:
• Canoe Floating Rate Income Fund, formerly O’Leary Floating Rate Income Fund;
• Floating Rate Income Fund; and
• Canoe Floating Rate Portfolio Trust, formerly O’Leary Floating Rate Portfolio Trust.
AUIM will also continue as the sub-advisor for the Canoe Global Income Class/Fund and the Canoe Strategic High Yield Class/Fund.

Moreover, Canoe will no longer re-designate Series A (USD) and Series F (USD) units of the following funds:
• Canoe Floating Rate Income Fund;
• Canoe Tactical Income Fund, formerly the O’Leary Tactical Income Fund; and
• Canoe U.S. Strategic Yield Fund, formerly the O’Leary U.S. Strategic Yield Fund (collectively, the “USD Series”).

Additionally, new and existing investors will not be able to purchase Series H, Series H (hedged), Series H (USD), Series FH and Series FH (hedged) units for the former O’Leary funds. Furthermore, effective on or about February, 18, 2016, new and existing investors will not be able to purchase Series A and Series F units of Canoe Global Balanced Fund, which was previously known as the O’Leary Global Infrastructure Income Fund. The hedged Series A and Series F remain available for purchase, however.

Founded in 2008, Canoe is a Canadian investment-management firm with more than $3.3 billion in assets under management.

 

To read the press release: please click here.

 


Categories

Investment Manager M&A, Mutual Fund M&A, Transactions