Toronto, Ontario--(Newsfile Corp. - August 9, 2016) - Redwood Asset Management Inc. ("Redwood"), the manager of Redwood Unconstrained Bond Class, announced on August 5, 2016, that it is changing the risk rating associated with Redwood Unconstrained Bond Class. This change will be reflected in an amendment to the simplified prospectus for the Redwood funds (the "Simplified Prospectus") to be filed shortly.
Following a review of the mutual funds in the Simplified Prospectus under its risk rating methodology, which is based on the approach recommended by the Fund Risk Classification Task Force of The Investment Funds Institute of Canada, Redwood has determined that it is appropriate to reduce the risk rating for Redwood Unconstrained Bond Class from "medium" to "low". The amendment to the Simplified Prospectus will also include changes that are not material changes to Redwood Floating Rate Preferred Fund: an amendment to the investment strategies of Redwood Floating Rate Preferred Fund and a decrease to the management fees for Series A and F of that fund. No material changes have been made to the investment objectives or strategies of the affected funds.
The methodology used by Redwood to identify the investment risk level of each Redwood mutual fund is available at no cost by calling us at 416-304-6800 or 1-877-313-7011, or writing us at [email protected]
For more information please contact:
President and Chief Executive Officer, Redwood Asset Management Inc.