The applicants, T.E. Investment Counsel Inc. and JovFunds Management Inc., applied to the Ontario Securities Commission for exemptive relief on behalf of several mutual funds.
The applicants sought relief from the mutual fund conflict of interest investment restrictions and reporting requirements under the Securities Act (Ontario) to permit the top funds to invest in underlying commodity pools (Horizons BetaPro ETFs and Funds).
The Commission granted the requested relief, permitting the investments provided they comply with section 2.5 of National Instrument 81-102, as modified by a concurrent exemptive relief decision.
