The Securities Commission has granted an exemption to extend the prospectus lapse date for a fund managed by AGF Investments Inc. This decision allows the fund’s current prospectus, which was set to lapse on October 21, 2021, to be extended to January 29, 2022. This extension aligns the fund’s prospectus renewal with that of 11 other exchange-traded mutual funds managed by the same investment fund manager, facilitating administrative efficiency and cost reduction.
The fund in question, AGFIQ US Market Neutral Anti-Beta CAD-Hedged ETF, is an exchange-traded alternative mutual fund and a reporting issuer in multiple Canadian jurisdictions. The fund is in continuous distribution and its securities are listed on the Toronto Stock Exchange.
The decision is based on the rationale that there have been no material changes in the fund’s affairs since the current prospectus was issued, and the information contained therein remains accurate. Should any material changes occur, the prospectus will be amended as required by law. The exemption is not expected to prejudice the public interest.
The decision is grounded in section 62(5) of the Securities Act (Ontario) and is consistent with National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions. The Ontario Securities Commission, acting as the principal regulator, has determined that the exemption meets the necessary legislative criteria.