Guardian Capital LP (the “
Manager”) announces the
completion of certain fund mergers (the
“
Mergers”). At the close of business on November
3, 2023, the ETF series units of each fund identified as a Merging
ETF in the following table were exchanged for equivalent ETF series
units of the corresponding Continuing Fund and the ETF series units
of each Merging ETF were delisted from the Toronto Stock Exchange
(“
TSX”). Today, November 6, 2023, the ETF series
units of each Continuing Fund will be substitutionally listed on
the TSX under the same ticker.
Merging ETF |
Continuing Fund |
TSX Ticker(s) |
Guardian Directed Equity Path ETF |
Guardian Directed Equity Path Portfolio |
GDEP, GDEP.B |
Guardian Directed Premium Yield ETF |
Guardian Directed Premium Yield Portfolio |
GDPY, GDPY.B |
Guardian Canadian Bond ETF |
Guardian Canadian Bond Fund |
GCBD |
In each Merger, each Merging ETF transferred all
of its net assets to the corresponding Continuing Fund in return
for ETF series units of the Continuing Fund having an aggregate net
asset value equal to the value of the assets transferred to the
Continuing Fund. Immediately thereafter, each Merging ETF caused
all of its outstanding securities to be redeemed in exchange for
ETF series units of the corresponding Continuing Fund on a
one-for-one basis. This resulted in each unitholder of the Merging
ETF receiving the exact same number of equivalent ETF series units
of the Continuing Fund as it held in the Merging ETF prior to the
Merger. The Mergers occurred on a tax-deferred basis.
As a result of the Mergers, each Continuing Fund
now offers both mutual fund series units and ETF series units. In
each case, the investment objectives and the portfolio management
team for the Continuing Fund remain unchanged.
In addition, the Manager confirms that, on
November 3, 2023, unitholders of record in the Merging ETFs
received the final distributions shown in the following table (the
“Distributions”). This is an update to the
estimated final distributions previously announced on October 30,
2023.
Merging ETF |
Series of ETF Units |
TSX Ticker |
Final Distribution Amount (per ETF
Unit) |
Guardian Directed Equity Path ETF |
Hedged ETF Units |
GDEP |
$0 |
Guardian Directed Equity Path ETF |
Unhedged ETF Units |
GDEP.B |
$0 |
Guardian Directed Premium Yield ETF |
Hedged ETF Units |
GDPY |
$0 |
Guardian Directed Premium Yield ETF |
Unhedged ETF Units |
GDPY.B |
$0 |
Guardian Canadian Bond ETF |
ETF Units |
GCBD |
$0.0697 |
The Distributions were not paid in cash, but
were reinvested and the resulting ETF units immediately
consolidated so that the number of ETF units held by each
unitholder did not change. Unitholders who held their ETF units
outside of registered plans will have taxable amounts to report and
will have an increase in the adjusted cost base of their
investment.
About Guardian Capital
LPGuardian Capital LP is the manager and portfolio manager
of the Guardian Capital Funds and Guardian Capital ETFs, with
capabilities that span a range of asset classes, geographic regions
and specialty mandates. Additionally, Guardian Capital LP manages
portfolios for institutional clients such as defined benefit and
defined contribution pension plans, insurance companies,
foundations, endowments and investment funds. Guardian Capital LP
is a wholly owned subsidiary of Guardian Capital Group Limited and
the successor to its original investment management business, which
was founded in 1962. For further information on Guardian Capital
LP, please call 416-350-8899 or visit www.guardiancapital.com.
About Guardian Capital Group LimitedGuardian
Capital Group Limited (“Guardian”) is a global
financial services company, which provides extensive investment
management services to institutional, retail and private high and
ultra-high-net worth clients through its subsidiaries. As at June
30, 2023, Guardian had C$56.5 billion of total client assets, while
managing a proprietary investment portfolio with a fair market
value of C$1.27 billion. Founded in 1962, Guardian’s reputation for
steady growth, long-term relationships and its core values of
trustworthiness, integrity and stability have been key to its
success over six decades. Its Common and Class A shares are listed
on the Toronto Stock Exchange as GCG and GCG.A, respectively. To
learn more about Guardian, visit www.guardiancapital.com.
CONTACT INFORMATION Guardian Capital LP Richard
BritnellTelephone: +1-416-350-3117 Email:
rbritnell@guardiancapital.com
Guardian Capital LP Commerce Court West Suite
2700, 199 Bay Street PO Box 201 Toronto, Ontario M5L 1E8
Caution Concerning Forward-Looking
StatementsCertain information included in this press
release constitutes forward-looking information within the meaning
of applicable Canadian securities laws. All information other than
statements of historical fact may be forward-looking information.
Forward-looking information is often, but not always, identified by
the use of forward-looking terminology such as “outlook”,
“objective”, “may”, “will”, “would”, “expect”, “intend”,
“estimate”, “anticipate”, “believe”, “should”, “plan”, “continue”,
or similar expressions suggesting future outcomes or events or the
negative thereof. Forward-looking information in this press release
includes, but is not limited to, statements with respect to
management’s beliefs, plans, estimates, and intentions, and similar
statements concerning anticipated future events, results,
circumstances, performance or expectations. Such forward-looking
information reflects management’s beliefs and is based on
information currently available. Certain material factors and
assumptions were applied in providing this forward-looking
information. All forward-looking information in this press release
is qualified by the following cautionary statements.
Although the Manager believes that the
expectations reflected in such forward-looking information are
reasonable, such information involves known and unknown risks and
uncertainties which may cause the Manager’s actual performance and
results in future periods to differ materially from any estimates
or projections of future performance or results expressed or
implied by such forward-looking information. Important factors that
could cause actual results to differ materially include but are not
limited to: general economic and market conditions, including
interest rates, business competition, changes in government
regulations or in tax laws, the ongoing conflict in the Ukraine,
the failure to satisfy any applicable stock exchange requirements,
as well as those risk factors discussed or referred to in the
Continuing Funds’ prospectus and the disclosure documents filed by
the Manager with the securities regulatory authorities in certain
provinces of Canada and available at www.sedarplus.ca. The reader
is cautioned to consider these factors, uncertainties and potential
events carefully and not to put undue reliance on forward-looking
information, as there can be no assurance that actual results will
be consistent with such forward-looking information.
The forward-looking information contained in
this press release is presented as of the preparation date of this
press release and should not be relied upon as representing the
Manager’s views as of any date subsequent to the date of this press
release. The Manager undertakes no obligation, except as required
by applicable law, to publicly update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise.
This communication is intended for informational
purposes only and does not constitute an offer to sell or the
solicitation of an offer to purchase Continuing Funds and is not,
and should not be construed as, investment, tax, legal or
accounting advice, and should not be relied upon in that regard.
Commissions, management fees and expenses all may be associated
with investments in Continuing Funds. Please read the prospectus
before investing. Exchange-traded funds (“ETFs”)
and mutual funds are not guaranteed, their values change frequently
and past performance may not be repeated. You will usually pay
brokerage fees to your dealer if you purchase or sell units of an
ETF on the TSX. If the units are purchased or sold on the TSX,
investors may pay more than the current net asset value when buying
units of the ETF and may receive less than the current net asset
value when selling them.
All trademarks, registered and unregistered, are owned by
Guardian Capital Group Limited and are used under licence.
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