(November 22 – 15:00 ET) – Unitholders of Grenadier 2000 Equity Fund and First Capital Income and Growth Fund approved a merger of the funds at meetings held November 20. The merger will be effective December 31.

First Grenadier Fund Management Inc., the manager of the fund, says the merged fund will benefit from increased economics of scale and potentially lower management expenses, as well as a greater level of assets for increased portfolio diversification opportunities.

Unitholders also approved a new name for the merged fund. The name of the fund to will be changed to Juniper Equity Growth Fund. As well, unitholders approved reduced quorum requirements at future unitholder meetings of the fund. First Grenadier says this change brings the quorum requirements of the fund in line with those of other public issuers with a large unitholder base.

First Grenadier Fund Management will change its name to The Juniper Fund Management Corporation on December 31.
-IE Staff