(April 17 – 17:20 ET) – Pursuit Financial Management Corp. says that unitholders of the Pursuit Global Bond Fund have approved a change to the fund’s investment objectives, at a meeting held on April 10.

The fund’s new objective is to achieve a high level of total return with due regard for safety of capital by investing primarily in high quality debt securities of foreign issuers in foreign currencies, Canadian issuers in foreign currencies, and foreign issuers in Canadian dollars. Investment decisions will be based on changes in currency and interest rate expectations. The company says such change ensures compliance with securities legislation and with the Fund’s investment objectives.

In addition to the fund’s new investment objectives, unitholders also approved a change in the concentration restrictions set forth both in National Instrument 81-102 and in the Fund’s Declaration of Trust which prohibits the Fund from investing more than 10% of its net assets in any one issuer.

The change allows the fund to invest from 25 to 35% of its net assets, in evidences of indebtedness of any one issuer, if the debt is issued or guaranteed by permitted supranational agencies or certain governments, or issued by issuers of a high rating, and better enables the fund to meet its fundamental investment objectives.

Approval for relief from the concentration has been granted by the Ontario Securities Commission. It is expected that the change to the investment restrictions of the Fund will be effective April 20, 2001.