1832 Asset Management L.P. and Dynamic Credit Absolute Return Fund

2023-11-07 | Decision | 81-101, 81-101F1, 81-102, 81-106, 81-106F1 | Investment funds and structured products | https://www.osc.ca/en/securities-law/orders-rulings-decisions/1832-asset-management-lp-and-dynamic-credit-absolute-return-fund

National Instrument 81-101 Mutual Fund Prospectus Disclosure, ss. 2.1 and 6.1(1).Form 81-101F1 Contents of Simplified Prospectus, Item 8(2) of Part B.National Instrument 81-102 Investment Funds, ss. 2.3(1)(f), 3.1, 15.1.1, 15.3(2), 15.6(1)(a)(i)(A), 15.6(1)(b), 15.6(1)(d)(i), 15.8(2)(a), 15.8(2)(a.1), 15.8(3)(a), 15.8(3)(a.1), and 19.1(1).National Instrument 81-106 Investment Fund Continuous Disclosure, ss. 2.1, 2.3, 4.4 and 17.1(1).Form 81-106F1 Contents of Annual and Interim Management Report of Fund Performance, Items 3.1(1), 3.1(7), 3.1(7.1), 3.1(8), 4.1(1), 4.1(2), 4.2(1), 4.2(2), 4.3(1)(a) and 4.3(1)(b) of Part B, and Items 3(1) and 4 of Part C.

The Ontario Securities Commission has granted 1832 Asset Management L.P. (the Filer) and Dynamic Credit Absolute Return Fund (the Continuing Fund) relief from certain provisions of National Instruments 81-101, 41-101, 81-102, and 81-106. This allows the new ETF series of continuing funds to use the past performance, financial data, start date, and fund expenses of corresponding terminating funds in their sales communications, simplified prospectus, ETF facts documents, management reports of fund performance, and financial statements. The decision is based on the condition that the Continuing Fund’s investment objectives and strategies will be substantially similar to those of the terminating funds, and that the Continuing Fund will be managed in a manner substantially similar to the terminating funds. The relief is granted under the condition that the Continuing Fund includes the applicable past performance data of the terminating funds in its communications, prospectus, and reports.