Stone Asset Management announces mutual fund changes

Stone Asset Management announces mutual fund changes

Stone Asset Management announces mutual fund changes

Stone Asset Management has announced that security holders of the Stone & Co. Flagship Growth & Income Fund Canada and the Stone & Co. Flagship Stock Fund Canada have approved changes to the fundamental objectives of the funds.

The Stone & Co. Flagship Growth & Income Fund Canada’s current investment objective restricts its investments primarily to Canadian equity and fixed-income securities. With the updated investment objective, the fund will give investors access to a global balanced fund aiming for capital appreciation and a steady income stream.

Meanwhile, the Stone & Co. Flagship Stock Fund Canada currently seeks superior returns through capital growth mainly from Canadian equity securities, with current income being a secondary objective. The fund’s new objective will expand investors’ exposure to North American equity securities that aim for long-term capital appreciation.

“The changes are expected to provide greater diversification and a wider range of investment opportunities for the two Funds by expanding the investment horizons beyond a weighting primarily in securities of Canadian issuers,” the firm said, adding that the funds’ investment time horizons were not changed.

The changes in investment objectives are set to take effect on or about August 25.

For more of Wealth Professional's latest industry news, click here.


Related stories:
RBC Global Asset Management announces new SRI funds
Canoe Financial proposes fund mergers