(June 9 – 12:35 ET) – The unitholders of First Heritage Fund has announced have approved a proposed change in its investment objectives. The fund will no longer be limited to investing primarily in resource stocks.
The new objectives will permit the fund to invest in equity and equity-related securities of companies whose shares trade or are quoted on any recognized stock exchange, primarily in Canada but also elsewhere in North America, Europe or Asia. Investment in non-Canadian stocks will be limited to 25% of the Fund’s portfolio.
The Fund is also changing its name to Grenadier 2000 Equity Fund. The manager of the fund had earlier indicated the name of the fund would be changed to Grenadier World Fund, but has chosen Grenadier 2000 Equity Fund to better reflect its investment criteria. The fund is an open-end mutual fund trust which offers its units on acontinuous basis in Ontario. First Grenadier Fund Management Inc. is the fund’s manager.
-IE Staff