Operations Memo

OM_2022-12; Covington II Fund Windup

For more information, contact:

Advisor Services Team

Date Issued:

October 12, 2022

This is to let you know that Covington Corporation has received shareholder approval to complete the windup of the Covington Fund II Labour Sponsored Fund.The Windup will be completed on Friday, October 14, 2022. This will be a taxable disposition for non-registered accounts. All transactions will be completed free of both tax credit clawback and DSC fees. CI Global Asset Management (CIG) will process the redemptions for the wind up for both nominee and client name accounts.

Please see the attached for further details. Note that for registered accounts, the transaction will occur as a switch to the CI Money Market Fund. 

Covington Fund Announcement - Covington Fund II Wind Up Automated Redemption October 14, 2022.pdf

As always, if you have questions or comments, contact the Advisor Services Department by email at advisorservices@gpwealth.ca.