Business News • MarketWire • Stone Asset Management Limited to Terminate Stone & Co. Growth Industries Fund |
Stone Asset Management Limited to Terminate Stone & Co. Growth Industries Fund |
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Stone Asset Management Limited to Terminate Stone & Co. Growth Industries Fund
TORONTO, ONTARIO--(Marketwired - March 18, 2016) - Stone Asset Management Limited ("SAM"), the Trustee and Manager of the Stone & Co. Growth Industries Fund (the "Fund") announced today plans to terminate the Fund on or about June 24, 2016 (the "Termination Date"). As a result of the termination, subscriptions for units of the Fund will not be accepted after March 18, 2016 at 4:00 p.m.
The decision to terminate was made in consideration of the Fund's small asset size (approximately $2 million as of March 17, 2016) and limited demand from new investors, making it uneconomic to fulfill the Fund's objective. SAM believes the termination of the Fund is in the best interest of the existing unitholders.
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