The Ontario Securities Commission has granted Fidelity Investments Canada ULC an extension of the prospectus lapse date for the Fidelity Global Growth Private Pool. This relief, allowed under subsection 62(5) of the Ontario Securities Act, extends the lapse date by 40 days to April 25, 2024. The extension aligns the prospectus renewal of the fund with other funds under Fidelity’s management, facilitating a consolidated prospectus and reducing administrative burdens.
Fidelity Investments Canada ULC, registered in multiple capacities across Canadian jurisdictions, manages the Fidelity Global Growth Private Pool, a mutual fund corporation. The fund is currently distributed under a prospectus dated March 16, 2023, which was set to lapse on March 16, 2024, requiring a renewal process to continue distribution. By extending the lapse date, Fidelity avoids the impracticality and cost of renewing the prospectus twice in a short timeframe for consolidation purposes.
The decision was made considering that there have been no material changes in the affairs of the fund since the filing of the current prospectus, and any material changes would trigger an amendment as required by law. The extension will not compromise the accuracy of the fund’s current information, and the fund’s most recent fund facts document will continue to be provided to new investors. This exemption is granted without prejudice to the public interest.