Toronto, ON March 7, 2019 –
Ninepoint Partners has obtained approval to change the investment objective of Ninepoint Short Term Bond Fund, with the goal of maximizing yield on cash balances for investors and advisors. Ninepoint Short Term Bond Fund has been renamed Ninepoint High Interest Savings Fund.
The objective of the Ninepoint High Interest Savings Fund is to maximize yield on cash balances, while providing easy access to investments with daily liquidity. The Fund invests in high interest savings accounts offered at Schedule 1 Canadian Banks.
The Fund is structured to look for reasonable returns in the short term and offer daily liquidity without penalty for redemptions. The current underlying investments of the Fund have an interest rate of 2.25%*
“There is a need for high-quality, short-term vehicles for investors and advisors to earn higher returns on cash balances being set aside for new investments, purchases or expenses,” says James Fox, Co-CEO and Managing Partner at Ninepoint Partners. “We feel that the Ninepoint High Interest Savings Fund will provide investors with convenient access to such a vehicle.”
Performance as of 2/28/2019
All returns and fund details are a) based on Series F shares; b) net of fees; c) annualized if period is greater than one year.
*The interest rate on the underlying investments of the fund is effective March 7, 2019 and is subject to change. The interest rate does not represent individual return as the fund is subject to management fees - 0.39% for Series A and 0.14% for Series F. The Manager currently absorbs all other expenses.
About Ninepoint Partners
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $2.4 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Diversified Core, Alternative Income, and Real Assets.
For more information, please contact:
Managing Director, Marketing
Goldman Communications Inc.