Business News • MarketWire • Qwest Funds Corp: Impact of 2016 Federal Budget on Mutual Fund Corporations |
Qwest Funds Corp: Impact of 2016 Federal Budget on Mutual Fund Corporations |
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Qwest Funds Corp: Impact of 2016 Federal Budget on Mutual Fund Corporations
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 30, 2016) - Qwest Investment Fund Management Ltd. (the "Manager"), the manager of the Qwest Energy Canadian Resource Class, AlphaDelta Tactical Growth Class, AlphaDelta Canadian Prosperity Class and AlphaDelta Growth of Dividend Income Class (together, the "Funds"), each a class of special shares of Qwest Funds Corp., announced that the Federal Government's 2016 budget included a provision that would eliminate the ability of investors in mutual fund corporations such as Qwest Funds Corp. to switch between classes of the same corporation on a tax-deferred basis. If the 2016 budget is adopted as proposed, then effective as of October 1, 2016 switches between the Funds will be treated as a disposition at fair market value, which may trigger a capital gain or loss to the investor at the time of the switch.
View More : http://www.marketwired.com/mw/release.do?id=2110301&sourceType=3
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