The Securities Commission has granted an extension for the renewal of the prospectus for a group of mutual funds managed by Pembroke Private Wealth Management Ltd. The extension allows the inclusion of a new fund, Pembroke Canadian All Cap Fund, into the existing prospectus that qualifies units of the existing funds for distribution. The lapse date for the current prospectus materials was set to be March 25, 2022, but with the exemption, it has been extended to April 25, 2022.
The decision is based on the understanding that the extension will not compromise the accuracy or currency of the information in the prospectus, as there have been no material changes to the funds that have not been disclosed. The extension is minimal and is not seen as disadvantageous to the unitholders. The Filer has also committed to amending the prospectus should any material changes occur.
The decision was made in accordance with the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 62(5), and other relevant regulations including National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions, Regulation 11-102 respecting Passport System, Regulation 81-101 respecting mutual fund prospectus disclosure, and Regulation 81-102 respecting Investment Funds. The Autorité des marchés financiers acted as the principal regulator, and the decision also applies to other Canadian jurisdictions where the Filer intends to rely on Regulation 11-102.