Vera Nunes

The filer applied to the Ontario Securities Commission for exemptive relief from sections 10.3 and 10.4(1) of National Instrument 81-102.

The relief was sought to permit the filer to calculate and pay the retraction price for its Series 1 Preferred Shares on specific valuation and payment dates, rather than strictly adhering to the standard mutual fund redemption timelines.

The Commission granted the requested exemptive relief, finding it met the legislative test.

The applicants, comprising four labour-sponsored investment funds and their manager, applied to the Ontario Securities Commission for approval to amalgamate into a single continuing fund under National Instrument 81-102.

They also sought an exemption from section 7.1 of NI 81-102 to allow the continuing fund to adopt a performance bonus plan incorporating features of the existing funds' plans, which were not based on a benchmark or index.

The Commission granted the requested amalgamation approval and performance bonus exemption, noting the amalgamation would provide greater portfolio diversification, improved liquidity, and reduced costs.

Integra Capital Limited applied on behalf of Integra Balanced Fund for exemptive relief from the concentration restrictions in National Instrument 81-102.

The relief was sought to permit the fund to invest up to 7.5% of its net assets in the Integra Emerging Markets Equity Fund, a pooled fund.

The Ontario Securities Commission granted the exemption on the condition that the underlying fund complies with Parts 2, 4, and 6 of NI 81-102 and that the investment does not exceed 7.5% of the fund's net assets.

The Filer applied for exemptive relief from the self-dealing and related-party transaction provisions of National Instrument 81-102.

The relief sought to permit the Filer's mutual funds to purchase exchange-traded securities of related issuers in the secondary market, and to conduct inter-fund trades of debt securities with pooled funds and closed-end funds managed by the Filer.

The Ontario Securities Commission granted the requested relief, subject to conditions including approval by the funds' independent review committees and compliance with pricing and other requirements under National Instrument 81-107.

The applicant, Sceptre Investment Counsel Limited, applied for approval of a change in the manager of the Sceptre Funds under paragraph 5.5(1)(a) of National Instrument 81-102 Mutual Funds.

The change in manager resulted from a corporate transaction where Fiera Capital Inc. transferred substantially all of its assets to the applicant.

The unitholders of the Sceptre Funds approved the change in manager and trustee.

The principal regulator granted the requested approval, finding that the unitholders received timely and adequate disclosure and the change was not detrimental to unitholders or the public interest.

The Filers applied to the Ontario Securities Commission for exemptive relief from the self-dealing prohibitions in subsection 13.5(2)(b)(iii) of National Instrument 31-103.

The relief was sought to permit the transfer of the investment portfolio of the Terminating Fund to the Continuing Fund to implement a merger.

The Commission granted the requested exemption, noting that the merger would be beneficial to unitholders and that all costs would be borne by the Manager.

The applicants sought exemptive relief from sections 2.5(2)(a) and (c) of National Instrument 81-102 to permit their mutual funds to invest up to 10% of net assets in leveraged, inverse, and gold exchange-traded funds (ETFs).

The Ontario Securities Commission granted the relief, subject to conditions including that the ETFs are traded on a Canadian or US stock exchange, are treated as specified derivatives, and that the funds' prospectuses disclose the relief and associated risks.

The applicant sought exemptive relief from the multi-layering prohibition in National Instrument 81-102 to permit its managed mutual funds to invest in a new underlying mutual fund, which in turn obtains exposure to a reference fund through a forward agreement.

The underlying and reference funds are not available to retail investors and will not renew their simplified prospectuses, but will remain reporting issuers.

The principal regulator granted the requested relief, permitting the three-tier structure and continued investment without a current prospectus, provided the funds remain reporting issuers subject to mutual fund instruments.

The applicant applied for exemptive relief on behalf of mutual funds from certain restrictions in National Instrument 81-102 regarding securities lending transactions.

The relief sought included exemptions from the 50% limit on lending, the requirement to use a custodial lending agent, and the requirement to hold collateral during the transactions.

The principal regulator granted the requested relief, subject to conditions, allowing the funds to lend up to 100% of their Canadian equity securities and to use an agent other than the custodian.

The applicant, AlphaPro Management Inc., applied for exemptive relief on behalf of existing and future commodity pools from certain provisions of National Instrument 81-102.

The relief sought to permit the commodity pools to invest in exchange-traded mutual funds that track the performance of physical commodities, which would otherwise be restricted by fund of funds rules.

The Ontario Securities Commission granted the exemption, subject to conditions including that the investments align with the pools' fundamental investment objectives and that the underlying funds are listed on a Canadian or US exchange.

The applicant, Canso Credit Trust, applied to the Ontario Securities Commission for an exemption from the requirement in section 14.2(3)(b) of National Instrument 81-106 to calculate its net asset value on a daily basis.

The applicant sought to calculate its net asset value on a weekly basis instead.

The principal regulator granted the requested exemption, provided that the applicant calculates its net asset value per unit at least once in each week.

Navina Asset Management Inc. applied for exemptive relief on behalf of the Navina Global Resource Fund, a closed-end investment trust converting into an open-end mutual fund.

The applicant sought relief from certain provisions of National Instrument 81-102 regarding seed capital requirements, prospectus costs, and the use of pre-conversion performance data in sales communications.

Additionally, the applicant sought relief to permit the converted mutual fund to engage in short selling up to 20% of its net assets.

The Ontario Securities Commission granted the requested relief, subject to specific conditions regarding short selling controls, cash cover, and disclosure requirements.

AGF Funds Inc. applied for exemptive relief from sections 2.5(2)(a) and (c) of National Instrument 81-102 to permit its mutual funds to invest up to 10% of their net assets in leveraged ETFs, inverse ETFs, gold ETFs, and leveraged gold ETFs traded on Canadian or US stock exchanges.

The Ontario Securities Commission granted the relief, subject to conditions including that the investments align with the funds' fundamental investment objectives, the funds do not short sell the ETFs, and the prospectuses disclose the relief and associated risks.

The filer, AGF Funds Inc., applied for exemptive relief from the investment restrictions in paragraphs 2.5(2)(a) and (c) of National Instrument 81-102 Mutual Funds.

The relief was sought to permit the filer's mutual funds to invest up to 10% of their net assets in leveraged ETFs, inverse ETFs, gold ETFs, and leveraged gold ETFs traded on Canadian or US stock exchanges.

The Ontario Securities Commission granted the requested exemption, subject to certain conditions regarding investment objectives, short selling, and prospectus disclosure.

The applicants, Sentry Select Capital Inc. and Sentry Select Investments Inc., applied for exemptive relief from the trading prohibition in section 13.5(2)(b) of National Instrument 31-103.

The relief sought to permit inter-fund trades between public mutual funds, non-redeemable investment funds, pooled funds, and managed accounts.

The Ontario Securities Commission granted the relief, subject to conditions including independent review committee approval or client consent, and specific pricing and transparency requirements.

The applicants, registered advisers and investment fund managers, applied to the Ontario Securities Commission for exemptive relief from the trading prohibition in section 13.5(2)(b) of National Instrument 31-103.

The relief sought to permit inter-fund trades between public mutual funds, non-redeemable investment funds, pooled funds, and managed accounts.

The Commission granted the exemption, subject to conditions including independent review committee approval or client consent, and compliance with pricing and transparency requirements under National Instrument 81-107.

The applicants, Sentry Select Capital Inc. and Sentry Select Investments Inc., applied for exemptive relief from the self-dealing provisions of National Instrument 81-102.

The relief sought to permit inter-fund trades in debt securities between mutual funds, pooled funds, and closed-end funds managed by the same manager or an affiliate.

The Ontario Securities Commission granted the relief, subject to conditions including independent review committee approval and compliance with National Instrument 81-107.

The applicants sought exemptive relief under National Instrument 81-102 to permit the merger of two terminating mutual funds into a continuing fund.

Approval was required because the fundamental investment objectives of the terminating funds were not substantially similar to those of the continuing fund, meaning the mergers did not meet the criteria for pre-approved reorganizations.

The Ontario Securities Commission granted the requested relief, noting that securityholders would receive timely and adequate disclosure and that the mergers would provide economies of scale and lower operating expenses.

The applicant investment fund sought an exemption from the requirement in section 14.2(3)(b) of National Instrument 81-106 to calculate its net asset value on a daily basis, as it uses specified derivatives.

The Ontario Securities Commission granted the exemption, permitting the fund to calculate its net asset value on a weekly basis, provided its equity shares are listed on the TSX and the weekly net asset value is made available to the public.

BMO Investments Inc. applied for exemptive relief on behalf of its mutual funds to permit them to invest in certain underlying exchange-traded funds (ETFs) that do not meet the definition of index participation units (IPUs) for a limited period, and to pay brokerage fees associated with trades in those ETFs.

The Ontario Securities Commission granted the relief, provided the investments comply with section 2.5 of National Instrument 81-102, except for paragraphs 2.5(2)(a) and (e).