Dynamic to merge Power Hedge series

Goodman & Company, Investment Counsel Ltd. has announced a series consolidation for Dynamic Power Hedge Fund, which will see Series A and Series F units reclassified as Series C and Series FC units, respectively. Series A and F would be terminated.

In the depths of the global financial crisis in 2009, the manager added high water marks to the performance fees of the fund, creating duplicate series of units of the affected funds for administrative purposes. These tracked the different high water marks that would apply to purchases prior to and after January 1, 2009.

The company says that the fund’s units have now surpassed their net asset values achieved in December 2007, eliminating the need for the duplicate series.

The reclassifications will be automatic, will have no tax consequences to unitholders and is expected to take place on March 25, 2011. Each terminating series has the same characteristics as the Continuing Series that it is being reclassified as.

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