Rhonda Goldberg

The Coxe Commodity Strategy Fund applied for an exemption from the requirement under National Instrument 81-106 to calculate its net asset value daily, as it uses specified derivatives.

The Ontario Securities Commission granted the exemptive relief, permitting the fund to calculate its net asset value on a weekly basis, provided the calculation is available to the public upon request via a website, the Class A Units remain listed on the TSX, and the calculation occurs at least weekly.

The applicants, two flow-through limited partnerships, applied for exemptive relief from the requirements in National Instrument 81-106 to file an annual information form and to maintain, prepare, and post an annual proxy voting record.

The partnerships argued that given their short lifespan, limited business activities, and the lack of a secondary market for their units, compliance with these requirements would not benefit limited partners and would impose a material financial burden.

The Ontario Securities Commission granted the requested exemptions, finding that the relief was not against the public interest.

Claymore Investments, Inc. applied for exemptive relief to extend the lapse date of the prospectus for several of its mutual funds.

Due to inadvertence, the funds failed to file a pro forma prospectus in time to qualify for the standard renewal timelines, causing the prospectus to lapse.

The Ontario Securities Commission, acting as principal regulator, granted the requested relief, noting that no undisclosed material changes had occurred and the extension would not be prejudicial to the public interest.

The applicant sought exemptive relief from paragraphs 2.5(2)(a) and 2.5(2)(c) of National Instrument 81-102 to permit a new mutual fund to invest up to 10 percent of its net assets in a Luxembourg-based mutual fund managed by an affiliate.

The principal regulator granted the exemption, subject to conditions including that the underlying fund remains subject to substantially similar laws and that the investment does not exceed the 10 percent threshold.

The applicant, Goodman & Company, Investment Counsel Ltd., applied for exemptive relief from the investment prohibition in subsection 4.1(1) of NI 81-102.

The relief was sought to permit the Dynamic Precious Metals Fund to invest in a private placement of Peregrine Metals Ltd., despite an affiliate of the applicant acting as an underwriter.

The Ontario Securities Commission granted the exemption, conditional on the fund complying with subsection 4.1(4)(a) and (d) of NI 81-102, which includes obtaining approval from the fund's independent review committee.