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Abstract
Marret Asset Management Inc. ("Marret") as the manager of the Marret Investment Grade Bond Fund (the "Fund") has announced a meeting of unitholders of the Fund to consider a proposed extension to the termination date of the Fund by five (5) years to October 31, 2019 (the "Continuation").
Absent unitholder approval of the Continuation, the Fund is expected to terminate on October 31, 2014. In connection with the Continuation, Marret is also proposing to: (i) amend the investment objectives, investment strategies and investment restrictions of the Fund to reflect generally the current investment objectives, investment strategies and investment restrictions of the underlying investment fund (the "Portfolio Trust"); (ii) amend the management fee provision in the management agreement between the Fund and the Marret in order to reflect the current aggregate management fee paid by the Fund and the Portfolio Trust; and (iii) set the annual redemption rights on the last business day of May of each year, beginning with May 31, 2016, in connection with the Continuation and extend the monthly redemption privileges set out in the declaration of trust of the Fund (collectively, the "Business of the Meeting").