Notice of Change of Auditors
Pursuant to Section 13.2 of National Instrument 81-106 – Investment Fund Continuous Disclosure and Section 4.11 of NI 51-102, Steadyhand Investment Management Ltd. (the “Manager”), and manager of the Funds, give notice that, effective on or about December 30, 2013 (the “Effective Date”), Deloitte LLP (the “Former Auditor”) will no longer act as auditor of the Funds.
As a result of the Manager’s decision not to continue the mandate of the Former Auditor, as of the Effective Date, the accounting firm of KPMG LLP (the “Successor Auditor”) will be appointed the auditor of the Funds.
The termination of the Former Auditor and the appointment of the Successor Auditor have been approved by the Board of Directors of Steadyhand Investment Management Ltd. The change of auditor has also been reviewed and approved by the Funds’ Independent Review Committee (the “IRC”) in accordance with the requirements of National Instrument 81-102 – Mutual Funds and National Instrument 81-107 – Independent Review Committee for Investment Funds.
There have been no reservations in the audit reports of the Former Auditor for their audits of the Funds’ two most recently completed financial years and the Manager is of the opinion that there were no “reportable events” as defined in NI 51-102.
About the Change
We made the difficult decision to change our auditor in order to achieve greater efficiencies with our other service providers. KPMG LLP is a highly reputable firm and has expertise in working with our trustee and custodian, RBC Investor Services. We are always looking to improve our business and backoffice functions and determined that KPMG is better positioned to meet our auditing needs.
We encourage you to contact us at 1-888-888-3147 if you have any questions about the pending change.
Our Third Quarter Report is now available. The report provides an in-depth look at the positioning of our funds and the strategies of our managers.