Subject: MUTUAL FUNDS
Ninepoint Partners LP Announces Proposed Changes to Investment Objective and Investment Strategies, and Temporary Management Fee Waiver for Ninepoint High Interest Savings Fund
TORONTO, June 14, 2023 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (Ninepoint Partners) announced today that it proposes to expand the investment objective (the IO Change) of Ninepoint High Interest Savings Fund (the Fund) to permit the Fund to also invest in high-quality money market securities, subject to unitholder approval. If the IO Change is approved by unitholders, Ninepoint Partners will adjust the investment strategies to implement the new investment objective, and until the earlier of June 30, 2024 or the Fund's net asset value (NAV) exceeding $1 billion, temporarily waive or waive a portion of the annual management fee as follows:
| Series | Current Management Fee | Management Fee After Waiver (effective August 3, 2023 if IO is approved until the earlier of June 30, 2024 or the Fund's NAV exceeding $1 billion) |
| Series A | 0.39% | 0.25% |
| Series F | 0.14% | 0% |
| ETF Series (NSAV) | 0.14% | 0% |
The temporary waiver will result in a reduction in the management expense ratios for the series indicated. Ninepoint Partners may cease the waiver without notice.
Ninepoint Partners will seek the approval of unitholders of the Fund in respect of the IO Change at a special meeting to be held on or about August 3, 2023. Next month, details of the IO Change will be sent to investors in the Fund who are entitled to vote. If the requisite approval is obtained, it is expected that the IO Change and corresponding changes to the investment strategies and the temporary management fee waiver will be implemented effective after the meeting on or about August 3, 2023.
About Ninepoint Partners
Based in Toronto, Ninepoint Partners LP is one of Canada's leading alternative investment management firms overseeing approximately $8 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets. Ninepoint Digital Asset Group is a division of Ninepoint.
For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at (416) 943-6707 or (866) 299-9906 or [email protected].
Sales Inquiries:
Ninepoint Partners LP
Neil Ross
416-945-6227
[email protected]
Media Inquiries:
Longacre Square Partners
Scott Deveau / Kate Sylvester
[email protected]
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