LDIC North American Small Business Fund Announces NAV Correction
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Sept. 17, 2018 (GLOBE NEWSWIRE) -- LDIC Inc. (the "Manager"), the manager of the LDIC North American Small Business Fund (the "Fund"), announces that it has discovered a discrepancy which has affected the net asset value per unit ("NAVPU") of the Fund. The Manager has determined that an administrative error in calculating performance fee accruals resulted in a misstatement of the NAVPU of the Series A of the Fund over the period from August 20, 2018 to September 6, 2018.
The NAVPUs were subsequently recalculated and were higher than the reported NAVPU during the period, with the maximum difference 0.70% or $0.09. The NAVPU for Series A was calculated and published for September 7, 2018 reflected the correction for Series A respectively and re-established the correct NAVPU values.
The Manager has reviewed and updated its procedures and is working with its valuation agent to ensure that this administrative error will not be repeated. It should be noted that the Manager will be reimbursed the difference for any redemption happened during the period.
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