Toronto-based Marquest Asset Management Inc. says that the special meetings of securityholders of several funds, which had been initially convened on Oct. 21, and adjourned until Nov. 20, will not proceed as the requisite quorum requirements were not met.
The meetings were being convened in connection with the previously announced reorganization of certain of the mutual funds.
The reorganization included proposed mergers the following funds: Marquest Canadian Balanced Fund (Corporate Class); Marquest Dow Jones Canada High Dividend 50 Fund (Corporate Class), and Marquest S&P/TSX Canadian Dividend Aristocrats Fund (Corporate Class).
It also included changes to the investment objectives of Marquest American Dividend Growth Fund (Corporate Class) and Marquest Covered Call Canadian Banks Plus Fund (Corporate Class).
As a result, Marquest will continue to manage and administer the funds in accordance with their existing investment objectives, strategies and restrictions.