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Redwood Asset Management Inc. Announces Fund Changes

TORONTO, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Redwood Asset Management Inc. (“Redwood”) announced today that, subject to all required approvals, effective on or about January 23, 2018 (the “Effective Date”), Redwood Infrastructure Income Fund will be re-named Marijuana Opportunities Fund (the “Fund”) and the changes described below will be made to the Fund. 

Redwood is the trustee, manager and portfolio advisor of the Fund.  Units of the Fund have not yet been distributed to the public, nor are they currently listed on any stock exchange.  At present, Redwood is the sole unitholder of the Fund.

In addition to the name change described above, as of the Effective Date, the following changes are expected to be made to the Fund:     

  • The investment objective of the Fund will change to the following:

    To provide unitholders with attractive long-term capital appreciation by investing in global issuers with interest in the marijuana or marijuana related industries.  While the Fund will primarily invest in equity securities, it may also acquire other types of securities of publicly listed companies, including, but not limited to, ADRs, preferred shares, convertible securities, debt securities, subscription receipts, options and warrants.”
  • The investment strategies of the Fund will be revised in order to reflect the new investment objective.
     
  • As a result of the change in the investment objectives and strategies the current sub advisor will no longer act on behalf of the fund. Redwood will continue as the portfolio advisor of the Fund and will be solely responsible for investment decisions on behalf of the fund.
     
  • The management fees of the Fund will be lowered to the following rates: 
Series          Management Fee
Class A units  1.75%
Class F units  0.75%
ETF units  0.75% 
  • The Fund’s fund type will change to “Global Marijuana Equity”. 
     
  • The Fund’s risk rating will increase from “low to medium” to “high”.  Such change is a result of the change to the investment objective and fund category.
     
  • The timing of distributions of the Fund will change from monthly to annual.

Amendments to the simplified prospectus, annual information, fund facts and ETF facts of the Fund will be filed in accordance with applicable securities regulatory requirements in order to reflect the changes described above.

/EIN News/ -- About Redwood Asset Management

Redwood Asset Management is a Toronto-based investment fund manager, focused on delivering unique investment solutions managed by boutique global investment managers to Canadian investors. Redwood Asset Management is a wholly owned subsidiary of Purpose Investments Inc., which has over $4.9 billion in assets under management. More information about Redwood's product offerings is available at www.redwoodasset.com.

For more information please contact:

Peter Shippen
President & CEO, Redwood Asset Management
T: 416.304.6811
pshippen@redwoodasset.com

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to U.S. news wire services.

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