Toronto, Ontario--(Newsfile Corp. - November 26, 2020) - NCM Asset Management Ltd. ("NCM") is pleased to announce that Michael Simpson will be managing the NCM Norrep Fund. On November 5th the proposed changes to the Investment objectives* of the NCM Norrep Fund were successfully approved by unitholders. The Fund is now open for purchases.
Says Alex Sasso, CEO "The NCM Norrep Fund has been a wealth creation solution for over 20 years as a Canadian small cap product. As the investment environment has changed, NCM has proposed to make this Fund more dividend focused, eligible to invest in all sizes of companies, and more diversified with up to 49% investable in the U.S. market."
"To ensure this updated mandate continues to maintain the high-quality performance investors have come to expect, NCM has hired Michael Simpson, one of the top investment managers in the country to manage this Fund," says Alex Sasso, CEO.
Michael joins NCM with over 25 years of experience in the investment industry. He specializes in dividend and income paying securities with a focus on free cash flow to sustain reliable dividends. Michael was the lead manager for the Sentry Canadian Income Fund and the Sentry Growth and Income Fund overseeing over $10 billion in total assets.
Michael was named Investment Executive Fund Manager of the year in 2014. Winner of the Morningstar award in the Canadian Dividend and Income Equity category for best risk-adjusted returns over a one, three, and five-year time horizon (awarded 2013).
Michael also received the Excellence in Fund Management Award from Lipper Analytics for the Sentry Canadian Income Fund for the best risk-adjusted returns over a decade.
He is an eight-time winner of the Brendan Woods Top Gun Award and has received eight FundGrade A+ awards for several funds he has managed over the years.
Michael graduated from York University and has completed both the Canadian Options course and the Canadian Futures course. He also holds the Chartered Financial Analyst (CFA) designation and is a Fellow of the Canadian Securities Institute.
Michael Simpson says "I am thrilled to be joining NCM. They have done an amazing job of putting all the key ingredients necessary to grow as a strong independent fund company. Joining Sentry in 2002, I was able to contribute to its growth and that is what attracted me to join NCM today. I look forward to my contribution to NCM's growth and success."
For over 20 years, NCM has been one of Canada's leaders in actively managed investment products. With a family of actively managed funds, NCM has earned multiple awards recognizing its investment success. NCM is an independent Canadian investment firm with offices in Calgary and Toronto, distributing retail mutual funds and related products and services to Canadian investors, through a third party distribution channel. (www.ncminvestments.com)
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NCM - NCM Asset Management Ltd.
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Notice to Reader:
Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ from those expressed in or implied by these forward-looking statements.
*The changes received shareholder approval at Special Meetings (each, a "Meeting" and collectively, the "Meetings"), of each applicable fund, that was held concurrently, with separate votes for each fund, on November 5, 2020. The requisite approvals have been obtained, and the proposed merger and investment objectives changes have been implemented on or about November 12, 2020.
The Independent Review Committee ("IRC") of the funds has reviewed the proposed merger and determined that the proposed amendments, will achieve a fair and reasonable result for the funds.
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