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Scotia to close High Rock Canadian high-yield bond fund
New York, Nov. 28 – Scotia Managed Companies Administration Inc. said it will terminate the High Rock Canadian High Yield Bond Fund after the close of business on Dec. 29.
The manager said that after the annual redemptions of units are processed on Dec. 15 the fund will no longer be “economically practical.”
Unitholders as of Dec. 29 will receive the net asset value per unit on Dec. 30.
As of Nov. 24, the fund had a market capitalization of C$10.42 million.
The fund, managed by High Rock Capital Management Inc., aims to provide exposure to Canadian dollar-denominated high-yield bonds of Canadian corporations.
Scotia Managed Companies is based in Toronto.
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