The Ontario Securities Commission has granted relief to another pooled fund manager while it works on new rules for pooled funds.

The OSC has approved the request of Alexander Gluskin Investments Inc. for an exemption from certain rules governing the exempt market for trades in units of its pooled fund trusts, namely the AGII Growth Fund and the AGII RRSP Growth Fund.

AGI is registered as an adviser in the categories of investment counsel and portfolio manager and as a limited market dealer.

The AGI Funds are pooled investment trusts with minimum initial investments of $150,000. It proposed that for the purposes of calculating an investor’s initial investment, an investor may aggregate purchases made by the investor, their RRSP and any wholly-owned holding companies, or any combination of the above. It also proposes that existing qualifying unitholders can acquire additional units with smaller investments.

This ruling will terminate when the OSC publishes final rules governing pooled funds.