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CALGARY, ALBERTA--(Marketwired - Mar 4, 2016) - Brickburn Asset Management Inc. ("Brickburn"), manager of Brickburn Small Cap Class and Brickburn Income Growth Class (the "Funds"), has decided to give not less than 60 days' notice to holders of Series F shares and Series MF shares of the Funds, effective 4 March, 2016, of its intention to terminate and redeem the Series F shares and the Series MF shares in each of the respective Funds. Brickburn anticipates setting the Valuation Date for the redemption of the Series F shares and the Series MF shares to be on or about 16 May, 2016 (the "Valuation Date").
Effective today, (March 4, 2016) the Series F shares and the Series MF shares will no longer be available for purchase by new investors. As such, the Funds have elected not to file their renewal simplified prospectus, annual information form and Fund Facts.
Holders of the Series F shares and the Series MF shares of the Funds are able to redeem such shares for settlement on or prior to the Valuation Date. Shortly thereafter, Brickburn Funds will cause to be paid to each shareholder their pro rata share of the series net asset value of any Series F shares and the Series MF shares registered in the name of such shareholder as at the Valuation Date.
The decision to terminate the Series F shares and the Series MF shares is due to a low number of shareholders, difficult market for attracting new fund inflows and the costs associated with maintaining a small fund.
Holders of the Series O shares of each of the Funds are advised that Brickburn is not taking any action with respect to the Series O shares.
Brickburn Income Growth fund will make its last distribution on or about April 15th, with a record date of March 30th.
The costs associated with the termination and redemption of the Series F shares and the Series MF shares will be borne by the Funds. Shareholders will not be required to pay any redemption fees associated with the redemption of the Series F shares and the Series MF shares.
Brickburn encourages all shareholders to consult with their financial and or tax advisors to understand the financial and tax implications associated with redeeming their Series F shares and the Series MF shares.
About Brickburn Asset Management Inc.
Since its formation in 1997, Brickburn Asset Management Inc. has been creating investor wealth through a unique and extensive blend of expertise. Over the years, Brickburn has expanded its offerings to include a family of public mutual funds, private equity and flow through limited partnerships. To read previous monthly updates please go to http://brickburn.com.