(August 2 – 16:40 ET) – Mulvihill Capital Management Inc. says it intends to change the investment objective of the Mulvihill U.S. Equity Index Fund. The fund’s new objective will be to achieve long-term capital growth by investing principally in equity securities of mid-sized and large U.S. companies that are listed on a U.S. stock exchange.
The fund’s current investment objective is to track the performance of the Standard & Poor’s 500 Index by investing principally in Standard & Poor’s 500 Depository Receipts.
Mulvihill also intends to change the name of the fund to Mulvihill U.S. Equity Fund and to increase the maximum ordinary expenses, which includes the management fee, payable by the fund from 1% to 1.25%.
The change in investment objective is subject to unitholder approval. A meeting of unitholders will be held August 30.
-IE Staff