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Redwood Announces Proposed Changes to Redwood Energy Income Class

TORONTO, ONTARIO–(Marketwired – May 17, 2013) – Redwood Asset Management Inc., (“Redwood”) a Toronto based investment fund manager that distributes unique, actively managed investment funds, focused on addressing specific client needs, announced changes to one mutual fund effective on or about July 18, 2013, subject to securityholder approval.

Proposed Changes

Subject to securityholder approval at a special meeting of securityholders to be held on or about July 17, 2013, the investment objective and incentive fee benchmark of Redwood Energy Income Class will be changed as further described below. If the objective and benchmark changes are approved, the investment strategies and fund name will be revised to reflect the new objective, and the portfolio manager of the fund will be changed. If the changes to the objective and benchmark are approved, the portfolio manager of the Fund will change from Aston Hill Investments Inc. to Redwood Asset Management Inc. The changes, if approved, will be effective on or about July 18, 2013.

Name Change

If securityholders of Redwood Energy Income Class approve the proposed changes to the fundamental investment objective and performance fee benchmark, the name of the Fund will change to “Redwood Pension Class”.

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