Marquest Asset Management Inc. Announces Termination of MARQUEST MUTUAL FUNDS INC. – Energy Series Fund
TORONTO, July 31, 2018 – Marquest Asset Management Inc. (the “Manager”) today announced that the Manager has determined that it is in the best interests of MARQUEST MUTUAL FUNDS INC. – Energy Series Fund (the “Fund”), a class of shares of Marquest Mutual Funds Inc., to terminate the Fund by September 30, 2018 (the “Termination Date”). The Manager has considered the size of the Fund (which is relatively small) against the operating expenses of the Fund and has determined that it is no longer economical to continue the offering of the Fund.
Effective today, the Fund will cease to be available for purchase and all remaining outstanding shares will be cancelled (redeemed) at the NAV per share on September 26, 2018. The shareholders will be able to initiate switches from the Fund to another class of mutual fund shares of Marquest Mutual Funds Inc., as described in the offering documents of the Fund, up to and including September 26, 2018. The shareholders who have not initiated a switch prior to that date, will be paid proceeds of redemption as of September 28, 2018. Redemption proceeds will be delivered in the same manner as a shareholder initiated redemption.
About Marquest Asset Management Inc.
Marquest provides diversified asset and wealth management for both individuals and institutional investors. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
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Chief Investment Officer