Mavrix Announces Lead Portfolio Management Responsibility Change
May 3rd, 2008 | by admin |Malvin Spooner, Chief Executive Officer and Chief Investment Officer of Mavrix Fund Management Inc. today announced the following streamlining initiatives to the Mutual Fund line-up.
Ms. Jackee Pratt, Vice President & Portfolio Manager, will assume the lead management role for the Mavrix Income Fund. Ms. Pratt currently manages the Mavrix Canada Fund & the Mavrix Diversified Fund.
Ms. Pratt joined the Mavrix team in February 2004 and has nearly 30 years of portfolio management experience in the investment industry. Over that time, she has successfully demonstrated a strong record of managing large capitalization funds.
In addition, Mavrix proposes to merge the Mavrix Canada Fund and the Mavrix Diversified Fund into the Mavrix Income Fund, which will be the continuing fund. The proposed mergers are subject to the receipt of all necessary unitholder and regulatory approvals. Mavrix also intends to rename the continuing fund the “Mavrix Balanced Monthly Pay Fund”. Details of the proposed mergers will be set out in a notice of meeting and information circular that will be sent to unitholders in May in advance of unitholder meetings to be held in June 2008.
The Mavrix Income Fund pays a fixed monthly distribution and seeks to provide high investment returns by investing primarily in common and preferred shares which may pay dividends, bonds and other fixed income securities plus other income producing securities such as selected income and royalty trusts. — www.cnxmarketlink.com
