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Educators Financial Group announces changes to the Educators Diversified Fund

TORONTO, Jan. 15, 2013 /CNW/ - Educators Financial Group Inc., the manager of the Educators Diversified Fund (the "Fund"), today announced changes to the name and investment strategies of the Fund.

Effective January 15, 2013, the name of the Fund was changed to the Educators North American Diversified Fund.  While the fundamental investment objectives of the Fund are, and remain, to invest primarily in common shares of established Canadian corporations and other equity securities, the Fund's investment strategies currently permit up to 25% of its assets to be invested in U.S. equity securities, and this percentage will increase, as discussed more fully below.  The Manager in consultation with the Fund's Portfolio Adviser accordingly decided to change the name of the Fund to more accurately reflect its investment strategies and portfolio composition.  In conjunction with this change, the investment classification of the Fund has been changed from Canadian equity to North American equity and its performance benchmark will become a blend of 55% the S&P/TSX Composite Total Return Index, 40% the S&P 500 Total Return Index and 5% the MSCI US Small Cap 1750 Index.

In connection with the change of name, the Manager in consultation with the Fund's Portfolio Adviser also implemented changes to the Fund's investment strategies.  Going forward, the Fund's holdings will normally comprise at least 65% in large cap stocks.  Acceptable equity investments include the following:

  • common and preferred stocks listed on major recognized North American exchanges;
  • warrants on qualified stocks;
  • securities which are convertible into qualified stocks;
  • investment trusts, such as REITS, royalty trusts and other trusts the units of which are traded on North American exchanges;
  • limited partnership units and master limited partnership units which are traded on North American exchanges;
  • ETFs;
  • with respect to that portion of the Fund's portfolio invested in securities of non-North American securities, which are generally limited to no more than 5% of the Fund's net assets, the Fund may hold index participation units and index certificates, mutual fund units and ADRs or GDRs.

The Fund's asset mix targets and allowable investment ranges are set forth in the table below:

Asset Class Minimum (%) Target (%) Maximum (%)
Total Equities 90 100 100
  Canadian Equities 45 55 60
  U.S. Equities 40 45 49
  Small Cap Equities(1) 0 5 10
Cash and Cash Equivalents 0 0 10

(1) Small cap equities are defined as equity securities issued by
companies with approximate market capitalizations between
US$300 million and US$3 billion, and may be used to satisfy
the allocation to either Canadian or U.S. equities.

The Fund may but need not use derivatives to hedge its exposure to foreign currencies.  Unitholders will be given not less than 60 days' prior notice before the Fund commences using derivatives to hedge its foreign currency exposure, in accordance with the requirements of National Instrument 81-102.  The Fund may continue to enter into securities lending transactions to generate additional income.

The Manager does not believe that this change in the Fund's investment strategies has resulted in any material change to the Fund's risk profile, and that it remains appropriate for investors seeking a core North American equity fund who are comfortable with a medium investment risk.

SOURCE Educators Financial Group Inc.

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