Dynamic Power Hedge Fund Series Consolidation


Date: Tuesday, March 15, 2011
Author: Canada Newswire

TORONTO, March 14 /CNW/ - Goodman & Company, Investment Counsel Ltd. (the "Manager"), manager of Dynamic Funds(R) ("Dynamic"), today announced a series consolidation for Dynamic Power Hedge Fund (the "Fund") whereby Series A units and Series F units (each a "Terminating Series") of the Fund will be reclassified into Series C units and Series FC units (each a "Continuing Series") of the Fund, respectively. The reclassification is expected to take place on March 25, 2011.

Each Terminating Series has the same characteristics as the Continuing Series that it is being reclassified as. Effective, March 21, 2011, both Continuing Series, which are currently capped, will be opened to new purchases, while both Terminating Series will be capped to new purchases and will no longer be offered. The reclassifications will be automatic and will have no tax consequences to unitholders.

In 2009, in response to a decline in net asset values experienced as a result of the global financial crisis, the Manager added high water marks to the performance fees of certain Dynamic investment funds, including the Fund, to protect investors from paying twice for the same performance. At the same time, duplicate series of units of the affected funds were created for administrative purposes to track the different high water marks that would apply to purchases prior to and after January 1, 2009.

The net asset values of the Fund's units have since returned to and surpassed the year end levels they achieved in December 2007 before the markets began their decline. As a result, all four series of the Fund have overcome their high water marks, eliminating the need for the duplicate series.

 

About Dynamic Funds

Dynamic Funds is a division of Goodman & Company, Investment Counsel Ltd., a subsidiary of DundeeWealth Inc. Goodman & Company offers a wide range of wealth management solutions through financial advisors. These include the mutual funds and hedge funds of Dynamic Funds, the portfolio solutions of the Marquis Investment Program and the high net worth investment counsel of DundeeWealth Investment Counsel (formerly, Goodman Private Wealth Management). DundeeWealth Inc. is a wholly owned subsidiary of The Bank of Nova Scotia and part of the Bank's Global Wealth Management business line, with $81.9 billion in fee earning assets.

This press release is for information purposes only and is not, and under no circumstances shall be construed as, an offering of the Fund referred to herein or as investment advice. Investors should read the Confidential Offering Memorandum of the Fund for information about the Fund's investment objectives, strategies and the risks associated with an investment in the Funds before investing. Investors should discuss the suitability of the Fund with their Investment Advisor before making any investment decisions.