/EINPresswire.com/ -- Dynamic Funds, a division of 1832 Asset Management L.P., the manager (the "Manager") of Dynamic Protected Dividend Value Fund (the "Fund") today announced that it will seek the approval of unitholders of the Fund to terminate the Fund. A special meeting of Unitholders of the Fund will take place on August 4, 2016 seeking approval of the proposed termination. If approved, the termination will take place on or about September 9, 2016.

Unitholders will have the right to redeem securities of the Fund up to the close of business on the effective date of the termination, and there will not be any redemption fees or sales charges payable on the termination of the Fund by unitholders. Unitholders who redeem their securities of the Fund prior to the termination will forfeit any "Guaranteed Amount", as described in the simplified prospectuses of the Fund under which its units were distributed.

The Manager presented the terms of the proposal to terminate the Fund to the Fund's independent review committee (the "IRC") for a recommendation. The IRC considered the termination and provided a positive recommendation to the Manager on the basis that the termination would achieve a fair and reasonable result for the Fund. The proposal to terminate the Fund has been approved by the board of directors of the Manager, and is subject to receipt of all other necessary approvals, including unitholder approval.

Units of the Fund are no longer offered for sale. The Fund was closed to new purchases on November 23, 2000.

A management information circular and other proxy materials, providing further details of the proposed termination, will be sent in due course to unitholders of record as of June 17, 2016.

About Dynamic Funds

Dynamic Funds is a division of 1832 Asset Management L.P., which offers a range of wealth management solutions, including mutual funds, investment solutions for private clients, institutional clients and managed asset programs. 1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by Scotiabank. ® Dynamic Funds is a registered trademark of its owner, used under license.

For further information, please contact:
Customer Relations Centre
1-800-268-8186
www.dynamic.ca

For media enquiries only:
Debra Chan
Public, Corporate and Government Affairs
Scotiabank
(416) 866-6443
debra.chan@scotiabank.com

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