The Securities Commission has granted an exemption to 1832 Asset Management L.P. (the Filer), the manager of Dynamic Retirement Income Fund (the Fund), under subsection 62(5) of the Securities Act (Ontario). This exemption allows the Filer to extend the prospectus lapse date for the Fund by 50 days. The extension aligns the Fund’s prospectus renewal with that of other funds under the Filer’s management, thereby consolidating their prospectuses into a single document. This consolidation aims to reduce costs and facilitate easier comparison of fund features for investors.
The Filer is a registered investment fund manager and the Fund is a mutual fund and a reporting issuer in Canada. The Fund’s current prospectus lapse date is October 28, 2023, but the Filer manages other mutual funds with a lapse date of December 2, 2023. The exemption sought is to avoid the impracticality and unreasonable costs of renewing the Fund’s prospectus separately and then again with the other funds.
The Commission’s decision is based on the understanding that there have been no material changes in the Fund’s affairs since its last prospectus and that any future material changes will be disclosed as required by law. The exemption is not expected to impact the accuracy of the Fund’s prospectus or be prejudicial to the public interest. The decision was made in accordance with the test set out in the applicable securities legislation.