Redwood Asset Management Announces Change of Fund Name

Redwood Asset Management Inc. (“Redwood”) is pleased to announce that the Redwood Floating Rate Preferred Fund has been renamed as the Redwood Canadian Preferred Share Fund (“the Fund”), effectively immediately.

The Fund is available with two different mutual fund purchase options, as well as an ETF that trades on the Aequitas NEO Exchange Inc. (“NEO”) exchange under the symbol RPS.

“When we launched this mandate almost two years ago, the ‘floating rate’ concept was consistent with our view of the market environment,” said Peter Shippen, President and Chief Executive Officer of Redwood Asset Management. “Given the active nature of this portfolio and our desire to manage money without constraints, we believe that this new name will better reflect a broader focus for the strategy, and its ability to invest across the preferred share market.”

Clients will see the new name reflected on client statements on May 16, 2017. As a result of the renaming of the Fund, the ETF units will see a change in CUSIP; there are no changes to the FundServ codes.

Redwood Canadian Preferred Share Fund will continue to employ an active, fundamental approach to investing in preferred shares to provide a high-quality source of tax-efficient income. “We are very proud of the Fund’s strong track record, and believe it continues to represent an attractive alternative to other areas of the fixed-income market,” said Mr. Shippen.

Redwood Canadian Preferred Share Fund (formerly Redwood Floating Rate Preferred Fund)

The Redwood Canadian Preferred Share Fund aims to provide a consistent stream of income with potential for capital appreciation by investing in Canadian income producing securities and Canadian equities.

Return to Press Releases