The Filer, as manager of Strategic Energy Fund, applied for exemptive relief from the restrictions on transactions with responsible persons under s. 118(2)(b) of the Securities Act.
The relief was sought to permit the transfer of private issuer securities to a newly-established closed-end investment fund as part of the Fund's conversion to an open-ended mutual fund.
The Ontario Securities Commission granted the requested relief, conditional upon the Filer obtaining the approval of the Fund's independent review committee and maintaining records of the fair value determination of the transferred securities.
