Yorkton Securities Inc. and Stone & Co. Ltd. say that effective March 19, Stone will acquire Lion Funds Management Inc., the manager of Yorkton Knowledge Industries Fund and Yorkton Health Sciences Fund. The change is subject to regulatory approval.

Yorkton and Stone anticipate that the change will provide a greater opportunity to grow the funds’ assets, enhance investor services and create investment alternatives and cost efficiencies.

“This signifies another extremely important and logical step in our corporate growth and development, for we have always been dedicated to the principles of growth, not just as an investment imperative but as a company,” said Richard Stone, president and CEO, Stone & Co. Ltd.

Effective January 18, responsibility for each of the funds’ investment portfolio will be transferred from Yorkton Securities Inc. to Stone Asset Management Ltd., an affiliate of Stone & Co. Ltd.

As well, the name of each fund will be changed as follows: Yorkton Knowledge Industries Fund to Stone & Co. Flagship Growth Industries Fund, and Yorkton Health Sciences Fund to Stone & Co. Health Sciences Fund.

Lion Funds Management Inc. is a subsidiary mutual fund company of Yorkton.