Rhonda Goldberg

Global Prosperata Funds Inc. applied for an exemption from section 2.1(e) of National Instrument 81-101 to allow additional time to file a final prospectus for the Global Iman Fund.

The Director of the Ontario Securities Commission granted the requested exemption, extending the deadline to file the prospectus to March 20, 2009.

The applicants, managers of various mutual funds, applied for exemptive relief from paragraph 2.5(2)(a) of National Instrument 81-102 Mutual Funds.

The relief sought was to permit the funds to invest up to 10% of their net assets in exchange-traded commodity pools that correlate to a multiple or inverse multiple of the performance of an underlying index.

The Ontario Securities Commission granted the requested relief, subject to certain conditions including investment limits and prospectus disclosure requirements.

The applicants sought exemptive relief from paragraph 2.5(2)(a) of National Instrument 81-102 to permit their mutual funds to invest up to 10% of their net assets in exchange-traded commodity pools that correlate to a multiple or inverse multiple of an underlying index.

The Ontario Securities Commission granted the relief, subject to conditions including maximum exposure limits, short selling restrictions, and prospectus disclosure requirements.

The Filers applied for exemptive relief under the securities legislation of Ontario to permit a continuing mutual fund to use the performance data and start date of a terminating mutual fund following an amalgamation and merger.

The principal regulator granted the exemption, finding that the continuing fund is effectively a continuation of the terminating fund and the track record is significant information for investors, provided that the merger and any significant differences are appropriately disclosed.

The applicants sought exemptive relief under National Instruments 81-101, 81-102, and 81-106 to permit a newly amalgamated mutual fund (the Continuing Fund) to use the performance data, financial highlights, and start date of a terminating commodity pool fund (the Terminating Fund) that merged into it.

The Ontario Securities Commission granted the requested exemptions, noting that the Continuing Fund is effectively a continuation of the Terminating Fund and that the historical track record is significant information for investors, provided that the merger and any significant differences between the funds are appropriately disclosed.

The applicants, Mackenzie Financial Corporation and Counsel Group of Funds Inc., applied for exemptive relief from the commingling prohibition in section 11.1(1)(b) of National Instrument 81-102.

The applicants sought to temporarily commingle mutual fund trust monies with non-mutual fund trust monies in their trust accounts to facilitate investments in deposits offered by an affiliate.

The Ontario Securities Commission granted the requested relief, satisfied that the applicants' record-keeping and daily reconciliation processes would adequately safeguard client assets.

The applicant, frontierAlt Funds Management Limited, applied for approval of a change of manager of the frontierAlt Opportunistic Global Fund to Ark Fund Management Ltd. under section 5.5(1)(a) of National Instrument 81-102 Mutual Funds.

The Ontario Securities Commission granted the approval, finding that the change of manager would not result in any material changes to the management and administration of the fund, unitholders received timely and adequate disclosure, and the change was not detrimental to unitholders or the public interest.

The applicant, a passive investment company, applied for exemptive relief from certain provisions of National Instrument 81-102 regarding investment restrictions, redemption price calculation and payment, compliance reports, and record dates for distributions.

The Ontario Securities Commission granted the requested relief, allowing the applicant to invest its net assets in a specific portfolio of common shares and to calculate and pay retraction prices as described in its prospectus.

The applicant applied for exemptive relief on behalf of several proposed exchange-traded funds from certain provisions of National Instrument 81-102.

The requested relief included exemptions relating to the transmission of purchase or redemption orders, issuing units for cash or securities, calculation and payment of redemptions, record dates for distributions, and prohibited representations.

The principal regulator granted the requested exemptions, subject to specified conditions.

The applicant, Goodman & Company, Investment Counsel Ltd., applied for exemptive relief on behalf of several mutual fund portfolios.

The requested relief included approval for current mutual fund mergers under subsection 5.5(1)(b) of National Instrument 81-102 and an exemption from the financial statement delivery requirements under subsection 5.6(1)(f)(ii) for both current and future mergers.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding disclosure in the management information circular and the provision of financial statements upon request.

The applicant, Mackenzie Financial Corporation, sought exemptive relief under National Instrument 81-102 to approve the merger of several terminating mutual funds into continuing funds.

The relief was required because the fee structures of the merging funds were not substantially similar, which precluded reliance on the pre-approval criteria.

The Ontario Securities Commission granted the requested exemption, noting that the continuing funds offered similar or lower management expense ratios, greater certainty concerning operating expenses, and that the independent review committee had recommended the mergers.

The filer, Nufcor Uranium Limited, applied for exemptive relief from the requirement under National Instrument 41-101 to file a final prospectus within 90 days of receiving a receipt for its preliminary prospectus.

Due to market conditions, the filer decided to discontinue its offering and instead sought to file a non-offering prospectus to become a reporting issuer.

The Ontario Securities Commission granted the requested relief, providing a 30-day extension to file the final prospectus.

Mackenzie Financial Corporation applied on behalf of the Mackenzie Destination+ 2017 Fund for an exemption from the requirement to prepare and file a management report of fund performance (MRFP) for the financial year ended June 30, 2008.

The Fund was created on June 12, 2008, and only had public investors for a maximum of 5 trading days during the financial year.

The Ontario Securities Commission granted the requested relief, provided that the first interim MRFP for the period ended December 31, 2008 includes financial highlights.

The Manager applied for exemptive relief to approve the merger of two terminating mutual funds into a continuing fund, and for relief from the requirement to deliver the continuing fund's financial statements to unitholders in connection with the current and future mergers.

The Ontario Securities Commission granted the requested relief, provided that the management information circular prominently discloses how unitholders can access the financial statements and that the Manager provides them upon request.

The applicant, a mutual fund manager, applied for exemptive relief from the short selling restrictions in National Instrument 81-102 Mutual Funds on behalf of its current and future mutual funds.

The relief sought would permit the funds to sell securities short, provide a security interest over fund assets, and deposit fund assets with dealers as security.

The principal regulator granted the exemption, subject to several conditions including a 20% limit on short sales relative to net assets, cash cover requirements, and specific disclosure obligations.

The applicants, managers of various mutual funds, applied for exemptive relief from paragraph 2.5(2)(a) of National Instrument 81-102 Mutual Funds.

The relief sought to permit the funds to invest up to 10% of their net assets in aggregate in commodity pools managed by BetaPro Management Inc. that use financial instruments correlating to the performance of an underlying index.

The Ontario Securities Commission granted the exemption, subject to conditions including investment limits, short selling restrictions, and prospectus disclosure requirements.

The Filer, a mutual fund corporation, applied to the Ontario Securities Commission for an exemption from the requirement under Section 14.2(3)(b) of National Instrument 81-106 to calculate its net asset value at least once every business day.

The Filer proposed to calculate its net asset value as of each Retraction Date and the fifteenth day of each month.

The principal regulator granted the requested exemptive relief, provided the Filer's shares remain listed on the TSX and the net asset value is calculated on the proposed dates.

The applicant, Connor, Clark & Lunn Risk-Managed Energy Fund, applied for exemptive relief from the requirement under NI 81-101 to use a simplified prospectus and the prohibition under NI 81-102 against a mutual fund bearing its own organizational costs.

The fund is a mutual fund for securities legislation purposes but operates similarly to a non-redeemable investment fund, conducting a one-time initial public offering through full-service dealers.

The principal regulator granted the requested relief, permitting the fund to use a long-form prospectus and to bear the expenses of the offering, provided those expenses do not exceed 1.5% of the gross proceeds.

The Filer applied on behalf of several mutual funds for exemptive relief from certain provisions of National Instrument 81-102 to permit the funds to engage in limited short selling of securities and to deposit fund assets with borrowing agents as security.

The Ontario Securities Commission granted the requested relief, subject to numerous conditions including limits on the aggregate market value of securities sold short, cash cover requirements, and specific disclosure obligations.

The applicant, AIC Limited, applied for exemptive relief under National Instrument 81-102 to permit the merger of certain mutual funds that did not meet all criteria for pre-approved reorganizations.

Specifically, the investment objectives were not substantially similar, the merger was not a qualifying exchange under the Income Tax Act, and the meeting materials did not include the most recent financial statements of the continuing funds.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the delivery of tailored simplified prospectuses and the availability of financial statements.