TORONTO, March 26, 2020 (GLOBE NEWSWIRE) — LDIC Inc. (the “Manager”) today announced that the Manager has determined that it is in the best interests of LDIC North American Infrastructure Fund (the “Fund”) to terminate the Fund on May 29, 2020 (the “Termination Date”). The Manager has considered the size of the Fund (which is relatively small) against the operating expenses of the Fund and has determined that it is no longer in the best interests of unitholders to continue the offering of the Fund.
Effective today, the Fund will cease to be available for purchase and all remaining outstanding units will be redeemed at the NAV per unit on May 29, 2020. The unitholders will be able to redeem and / or initiate switches from the Fund to another mutual fund managed by the Manager, as described in the offering documents of the Fund, up to and including May 28, 2020.
Those unitholders, who are existing discretionary managed clients, will get the redemption proceeds in their managed accounts with us. For other unitholders, the redemption proceeds will be delivered in the same manner as unitholder initiated redemptions.
The Manager will send a notice to each unitholder in the Fund notifying them of the termination.
For more information, please contact:
President and Chief Compliance Officer