Alternative Investment

Bridgehouse Asset Managers Receives Securityholder Approval for Changes to its Investment Fund Lineup and Announces Changes to the Morningstar Balanced Portfolio


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TORONTO, Jan. 24, 2023 (GLOBE NEWSWIRE) — Bridgehouse Asset Managers (“Bridgehouse”) announces the results of the proposals voted upon today at the special meeting of securityholders announced on November 16, 2022. Bridgehouse also announces changes to the Morningstar Balanced Portfolio (to be renamed T. Rowe Price Global Allocation Fund).

Bridgehouse has received the required approval from securityholders to proceed with the change to the fundamental investment objective (the “Investment Objective Change”) of the Morningstar Balanced Portfolio as follows:

Current Investment Objective New Investment Objective
The fundamental investment objective of the Morningstar Balanced Portfolio is to achieve a combination of long-term capital appreciation and income by investing primarily in a diverse mix of mutual funds and exchange traded funds that invest in Canadian and global fixed income and equity securities.The Fund may also invest directly in pooled funds (subject to regulatory exemptive relief), individual fixed income and equity securities and cash or cash equivalents.The Fund’s fundamental investment objective cannot be changed unless approval from a majority of unitholders is received from those who vote at a special meeting called for that purpose. The fundamental investment objective of the Morningstar Balanced Portfolio is to achieve a combination of long-term capital appreciation and income by investing in a broadly diversified global portfolio that includes global stocks, bonds and short-term securities, and alternative investments.The Fund’s fundamental investment objective cannot be changed unless approval from a majority of unitholders is received from those who vote at a special meeting called for that purpose.

Bridgehouse has also received the required approvals from securityholders to proceed with the mergers (each a “Merger” and collectively, the “Mergers”) of the following funds:

Terminating Funds Continuing Funds
Morningstar Strategic Canadian Equity Fund Sionna Canadian Equity Fund
Morningstar Conservative Portfolio  
Morningstar Moderate Portfolio Morningstar Balanced Portfolio*
Morningstar Growth Portfolio  

*To be renamed T. Rowe Price Global Allocation Fund

As securityholder approvals have been received, the Mergers will be effective on or about January 27, 2023 and the Investment Objective Change will be effective on January 30, 2023.

Holders of securities of each series of the Terminating Funds will receive securities of their respective Continuing Funds, determined on a series-for-series and dollar-for-dollar basis. As soon as practicable following the Mergers, each Terminating Fund will be wound up.

No sales charges, redemption fees or other fees or commissions will be payable by securityholders of the Terminating Funds in connection with the Mergers. All costs and expenses associated with the Mergers will be borne by Bridgehouse. Securityholders of the Terminating Funds will have the right to redeem securities of, or make switches out of, the Terminating Funds up to the close of business on the effective date of the applicable Merger. No sales charges, redemption fees or other fees or commissions will be charged to securityholders on the issue of securities of the Continuing Funds or exchange of securities of the Terminating Funds into the Continuing Funds.

Changes to the Morningstar Balanced Portfolio

As announced on November 16, 2022 and effective January 30, 2023, the Morningstar Balanced Portfolio will be renamed T. Rowe Price Global Allocation Fund, the portfolio sub-advisor will be changed to T. Rowe Price (Canada), Inc. (“T. Rowe Price”) and the Fund’s investment strategies will be modified to reflect the approach utilized by T. Rowe Price in managing multi-asset portfolios.

In addition, the management fee applicable to Series A and Series F of the fund will be reduced as indicated in the table below, effective January 30, 2023:

Morningstar Balanced Portfolio* Current Management Fee New Management Fee
Series A 1.75% 1.70%
Series F 0.75% 0.70%

*To be renamed T. Rowe Price Global Allocation Fund

About Bridgehouse Asset Managers: Bridgehouse Asset Managers, the retail trade name for Brandes Investment Partners & Co., is an independent platform for products from investment managers with deep institutional roots including: Allspring Global Investments, LLC, Brandes Investment Partners, L.P., GQG Partners LLC, Lazard Asset Management (Canada), Inc., Sionna Investment Managers Inc. and T. Rowe Price (Canada), Inc. Through financial advisors, we aim to help Canadians build their long-term wealth by following sound investing principles. Bridgehouse develops product and value-added tools and CE-accredited training to help advisors build stronger ties with clients and maximize the benefits of the financial advice relationship. Our end-goal is to help investors make informed decisions and achieve their long-term financial goals.

For more about Bridgehouse and the Bridgehouse Funds visit: bridgehousecanada.com and follow us on LinkedIn.

Brandes Investment Partners & Co. is the manager of the Bridgehouse Funds. Securities of the Bridgehouse Funds are available through registered dealers only and not available through Bridgehouse. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Returns on mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

This news release is for information purposes only.

Media ContactSamantha HillAVP, Sales and MarketingBridgehouse Asset Managers416-306-5723[email protected]

 

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Source: Bridgehouse Asset Managers

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