Sale of Dynamic Venture Opportunities Fund gets board approvalBy The IJ Staff | August 01 2018 11:30AM
Dynamic Venture Opportunities Fund Ltd. announced July 31 that its Board of Directors has approved the sale of the fund by 1832 Asset Management L.P. to B.E.S.T. Investment Counsel Limited (BEST).
The closing of the transaction is expected to take place this fall, subject to receiving approvals from regulators and shareholders.
Upon closing, BEST will become the investment fund manager, portfolio manager and principal distributor of the fund and the name of the fund will be changed to B.E.S.T. Venture Opportunities Fund Inc. The custodian of the Fund will be changed from State Street Trust Company Canada to CIBC Mellon Trust Company.
These changes are subject to shareholder approval. A special meeting of the fund’s shareholders is expected to be held in the fall of 2018.