NINEPOINT PARTNERS LP ANNOUNCES MANAGEMENT FEE REDUCTION AND INVESTMENT STRATEGY CHANGE OF NINEPOINT FX STRATEGY FUND - GlobeNewswire | Canada News Media
Management Fee Reductions on Certain Series of the Fund
Ninepoint Partners LP (Ninepoint Partners) announced today that effective April 8, 2020, the management fee payable on Series A units of Ninepoint FX Strategy Fund (the Fund) is reduced from 2.25% to 2.05%, and the management fee payable on Series F units of the Fund is reduced from 1.75% to 1.55% (the Management Fee Reduction). The reason for the Management Fee Reduction is to create a discount for initial subscribers. It is intended that two new series with higher management fees will be qualified for distribution subsequent to the initial launch period.
Investment Strategy Changes to the Fund
Ninepoint Partners also proposes to change the investment strategy of the Fund to permit exposure to gold through investment in futures contracts (the Investment Strategy Change). The Fund will continue to be permitted to gain exposure to foreign currencies, such as the U.S. Dollar, Australian Dollar, Euro, British Pound, Japanese Yen, Canadian Dollar, Swiss Franc, Norwegian Krone, New Zealand Dollar, Swedish Krona, Brazilian Real, Mexican Peso and such other currencies as may be agreed in writing by Ninepoint Partners and the sub-adviser of the Fund. The effective date of the Investment Strategy Change is April 9, 2020.
About Ninepoint Partners
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $6 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.
For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.
Sales Inquiries: Ninepoint Partners LP Neil Ross 416-945-6227 nross@ninepoint.com
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
