Gatehouse Announces Investment Adviser Change on Global Credit Pref. Corp.
February 19, 2010
TORONTO, ONTARIO–(Marketwire – Feb. 19, 2010) – Gatehouse Capital Inc., a wholly-owned subsidiary of Redwood Asset Management Inc., announced today, that effective February 16, 2010, SciVest Capital Management Inc. assumed investment advisory responsibility for Global Credit Pref Corp. (TSX:GPA.PR.A) and the underlying trust, Global Credit Trust.
Global Credit Pref Corp. is a mutual fund corporation that issued 10-year redeemable, retractable cumulative preferred shares. The corporation has exposure, by way of an equity forward sale agreement, to a structured credit linked note issued by The Toronto-Dominion Bank and held by Global Credit Trust, the return on which is currently linked to the credit performance of 120 reference entities.
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