(June 9 – 17:15 ET) – Elliott & Page has announced portfolio manager changes on three of its funds. Effective June 30, 2000, Elliott & Page Global Equity Fund, Elliott & Page Asian Growth Fund and Elliott & Page Emerging Markets Fund will be advised by ABN AMRO Asset Management which replaces Fleming Asset Management as sub-advisor to these three portfolios.
With over 1000 investment professionals located in 32 offices worldwide, ABN AMRO currently manages assets in excess of CDN$150 billion.
Elliott & Page has also decided to close the Elliott & Page Emerging Markets Fund effective December 31, 2000. The decision to terminate this Fund reflects the goals of improving the cost-efficiency of fund administration for all funds under management, says the company.
In preparation for the termination of this Fund, the Fund will be closed to new purchases after the close of business on July 15, 2000. Unitholders of the Elliott & Page Emerging Markets Fund will be given the option to switch their investments in this Fund to any other fund within the Elliott & Page Group of Funds. Written notice of these changes to the Elliott & Page Mutual Funds will be delivered in the near future to unitholders of the Elliott & Page Emerging Markets Fund.
-IE Staff