The Securities Commission has decided to grant Tralucent Asset Management Inc., the manager of Tralucent Global Alt (Long/Short) Equity Fund, an exemption from the requirement under subsection 2.1(2) of National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101). This subsection typically prohibits the filing of a prospectus more than 90 days after the preliminary prospectus receipt date.
The decision was made following an application by the Filer, dated September 14, 2023, requesting relief from this timing restriction. The Director of the Ontario Securities Commission reviewed the application and based on the information and representations provided, agreed to issue an exemption. This exemption is conditional upon the prospectus being filed by October 16, 2023.
The legislative framework guiding this decision is National Instrument 81-101, specifically section 6.1 which allows for exemptive relief applications, and subsection 2.1(2) which sets the 90-day filing limit for a prospectus following a preliminary prospectus.