Purchase of Shares:
Subscription Forms for Class A shares (the "shares") of the Fund must be submitted directly to the office of Montaque Securities International or sent by mail. The minimum initial investment in the Fund is $500, but the Fund reserves the right to modify this requirement. Shares of the Fund shall be purchased at the NAV of the shares on the next Valuation Date, and fractional shares may be issued. All shares must be paid in full at the time of their issue. After the initial investment, each investment account must maintain a minimum investment balance of $500 and may be increased in minimum increments of $100.
Share certificates will not be issued. Each person accepted as a shareholder in the Fund will be assigned an investment account with Montaque Securities International. Upon acceptance of the subscription, the Fund Manager will forward details of the investment account to the subscriber, including the number of shares credited thereto. All references to and inquiries about any individual investment account must be identified by the relevant account number.
Acceptance of the subscription, assignment of an investment account number, and the inclusion of the name on the Register of Shareholders will collectively be prima facie evidence of a shareholder's interest in the Fund. This interest is transferable, subject to notice being given to the Fund Manager and approval thereof by the Fund Manager.
Unless waived at the discretion of the Directors, subscriptions must be received at least ten business days prior to the Valuation Date on which the purchase will be deemed to be effective. The Valuation Date will be the last business day in each month. The Fund reserves the right to decline any subscription or portion of any subscription.
Redemption of Shares:
Shares of the Fund may be redeemed by submitting a Redemption Form to the office of Montaque Securities International at least ten business days prior to the Valuation Date. Cheques and/or statements of account reflecting the value of assets at the date of redemption will be dispatched within seven days of the Valuation Date.
As the Fund is intended as a long-term savings vehicle, there is a redemption fee of 1% of any amount being redeemed within the first year of investment in the Fund.
The Fund will not distribute dividends to its shareholders but will reinvest all net income in the Fund. The accumulation of net income will be reflected by an increase both in the NAV shares of the Fund and in the value of each shareholder's investment account.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances