The Securities Commission has granted an application by Guardian Capital LP for two forms of relief concerning the distribution of certain mutual funds. The first relief extends the lapse date for the renewal of simplified prospectuses, fund facts documents, and annual information forms for the GC One Equity Portfolio, GC One Fixed Income Portfolio, and Guardian Strategic Income Fund. The new lapse date is set for April 21, 2022, aligning with the lapse date of another prospectus for additional funds managed by Guardian Capital LP. This extension is intended to consolidate the prospectuses to streamline costs and distribution.
The second form of relief allows for the consolidation of the simplified prospectus of alternative mutual funds with that of mutual funds that are not alternative mutual funds. This exemption is from the requirement in subsection 5.1(4) of National Instrument 81-101 Mutual Fund Prospectus Disclosure, which typically prohibits such consolidation. The consolidation aims to reduce costs and facilitate easier comparison of fund features for investors.
The decision is based on the rationale that there have been no material changes in the affairs of the funds since the last prospectus, and the current prospectuses continue to provide accurate information. The consolidation will not affect the accuracy of the information provided and is not expected to be prejudicial to the public interest.
The relief is granted under the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 62(5), and National Instrument 81-101 Mutual Fund Prospectus Disclosure, sections 5.1(4) and 6.1. The decision was made with the understanding that Guardian Capital LP is in compliance with all applicable securities legislation and that any future material changes will be disclosed as required by law.