Toronto, ON
FOR IMMEDIATE RELEASE
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Arrow Capital Management Inc. (“Arrow”) today announced its intention to wind-up Exemplar Portfolios Ltd. (the “Corporation”). This will impact its suite of five corporate class funds (the “Merging Funds”), resulting in the merging of each Merging Fund into its corresponding trust fund equivalent (the “Continuing Funds”), on a tax-deferred basis.
Arrow believes this is in the best interest of investors since the Corporation is in a potential taxable position. Changes to tax legislation and evolving market trends have eliminated many of the benefits that were previously available to corporate class funds.