TORONTO, March 22, 2019 – Ninepoint Partners LP (Ninepoint Partners) announced today that it proposes to merge (each a Merger and collectively, the Mergers) Ninepoint Enhanced Balanced Class into Ninepoint Enhanced Balanced Fund and Ninepoint Focused U.S. Dividend Class into Ninepoint Global Infrastructure Fund (each a Fund and collectively, the Funds). Each of Ninepoint Enhanced Balanced Class and Ninepoint Focused U.S. Dividend Class (each a Terminating Fund and collectively, the Terminating Funds) will cease to be available for sale effective immediately. Following the Mergers, pre-authorized chequing plans established for purchases of securities of each Terminating Fund will be immediately transferred to the equivalent series of securities of the applicable continuing fund. Through the Mergers, holders of securities of each series of each of the Terminating Funds will receive securities of the same series of its respective continuing fund, determined on a dollar-for-dollar basis.
Ninepoint Partners will seek the approval of the securityholders of each Terminating Fund and the applicable securities regulator in respect of the proposed Mergers. Securityholder approval will be sought at separate special meetings to be held consecutively on or about May 23, 2019. Details of the proposed Mergers will be sent to investors in the Terminating Funds who are entitled to vote in advance of the special meetings. If the requisite approvals are obtained, it is expected that the Mergers will be implemented effective on or about May 31, 2019. As soon as practicable following the Mergers, the Terminating Funds will be wound up.
The Independent Review Committee of each of the Funds has reviewed the potential conflict of interest matters related to the proposed Mergers and has provided the Manager with a positive recommendation having determined that the proposed Mergers, if implemented, will achieve a fair and reasonable result for each of the Funds.
Ninepoint Partners also announced today it intends to terminate Ninepoint Core Bond Fund effective on or about May 31, 2019 (the Termination Date). Effective immediately, Ninepoint Core Bond Fund is closed to new purchases. Investors may redeem or switch their units of Ninepoint Core Bond Fund up to the close of business on the Termination Date. Ninepoint Partners will waive any short-term trading fees for redemptions of units of Ninepoint Core Bond Fund prior to the Termination Date. Investors that still hold units of Ninepoint Core Bond Fund on the Termination Date will receive a cash payment for their units equal to the proportionate share of all property and assets of Ninepoint Core Bond Fund attributable to the applicable series of Ninepoint Core Bond Fund, which is expected to be the series net asset value per unit on the Termination Date multiplied by the number of units held.
Ninepoint Partners will send a notice to each investor in Ninepoint Core Bond Fund regarding the termination.
About Ninepoint Partners
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $2.5 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.
Ninepoint Partners LP