FUND FACTS Yorkville Global Opportunities Class Series A July 7, 2011

Transcription

1 Yorkville Global Opportunities Class Series A This document contains key information you should know about Yorkville Global Opportunities Class (the Fund ). You can find more detailed information in the Fund s simplified prospectus. Ask your adviser for a copy, contact Yorkville Asset Management Inc. at or investorservices@yorkvilleasset.com, or visit Quick Facts Date fund created: (Series A) Portfolio manager: Yorkville Asset Management Inc. Total value: Management expense ratio (MER): Not applicable because the Not available because the Minimum investment: $1,000 initial, $100 additional, $100 Pre- Authorized Chequing Plans What does the fund invest in? The Fund seeks to provide long-term capital growth and preservation of capital by investing primarily in a portfolio consisting of global fixed income and equity securities and commodities. Top 10 investments Investment mix How has the fund performed? This section tells you how the series has performed since inception. Returns are after fund expenses have been deducted. These expenses reduce the series returns. Returns are before any taxes you may incur. Your actual after-tax return will depend on your personal tax situation. It s important to note that this doesn t tell you how the Fund will perform in the future. Average return Year-by-year returns How risky is it? When you invest in a fund, the value of your investment can go down as well as up. Yorkville Asset Management Inc. expects that this Fund s risk level will be low to medium. For a description of the specific risks of this Fund, see the Fund s simplified prospectus. Low Low to medium to high High Are there any guarantees? Like most mutual funds, this Fund doesn t have any guarantees. You may not get back the amount of the money you invest. Who is the fund for? Investors who: are seeking a tactically managed, well diversified portfolio of global fixed income, equity securities and exposure to commodities; are conservative and require capital preservation and long-term capital appreciation; are seeking low to medium investment risk; and have a medium term investment horizon (3 5 years). Before you invest in any fund, you should consider how it would work with your other investments and your tolerance for risk. A word about tax In general, you pay tax on your share of the fund s earnings and on taxable capital gains you realize from redeeming your investment. The amount of tax depends on the tax rates that apply to you, and the type of earnings realized by the fund (e.g. interest, dividends, capital gains, etc.). In general, registered retirement savings plans and other registered plans don pay tax on investments. If you hold your investment outside of a registered plan, we will send you a tax slip that shows your share of the fund s earnings. You must calculate your taxable capital gains realized on redemption.

2 Yorkville Global Opportunities Class Series A How much does it cost? The following tables show the fees and expenses you could pay to buy, own and sell Series A shares of the Fund. This Fund has other series of shares. The fees and expenses are different for each series of the Fund. Ask about other series that may be suitable for you. Sales charges You have to choose a sales charge option when you buy the Fund. Ask about the pros and cons of each option. Sales charge How it works option in per cent (%) in dollars ($) Front-end 0% to 5% of the amount $0 to $50 on option (initial you buy every $1,000 sales charge) you buy Low-load option Deferred sales charge option If you sell within: 1 year of 3.0% 2yearsof 2.5% 3yearsof 2.0% After 3 years 0.0% If you sell within: 1 year of 6.0% 2yearsof 5.5% 3yearsof 5.0% 4yearsof 4.5% 5yearsof 4.0% 6yearsof 3.5% After 6 years 0.0% $0 to $30 on every $1,000 you sell $0 to $60 on every $1,000 you sell You and your dealer decide on the rate of commission that you pay when you buy shares. The initial sales charge is deducted from the amount you have available for investment. It goes to your dealer as a commission. The low-load sales charge you pay is deducted from the proceeds of the shares that you sell. When you buy the Fund, Yorkville Asset Management Inc. pays your dealer a commission of 2.0% of the amount invested. Any low-load sales charge you pay when you redeem shares goes to Yorkville Asset Management Inc. You will not incur a sales charge when you switch to another Heritage Yorkville Mutual Fund but you may incur a switch fee. The low-load sales charge schedule will be based on the date you bought the first fund. Yorkville Asset Management Inc. will redeem shares held for the longest period of time first and deduct the applicable redemption fee from the proceeds of the redemption. The deferred sales charge you pay is deducted from the proceeds of the shares that you sell. When you buy the Fund, Yorkville Asset Management Inc. pays your dealer a commission of 5.0% of the amount invested. Any deferred sales charge you pay when you redeem shares goes to Yorkville Asset Management Inc. You will not incur a sales charge when you switch to another Heritage Yorkville Mutual Fund but you may incur a switch fee. When you switch, if you bought the original Series A shares under a deferred sales charge option, you won t pay a deferred sales charge when you switch. When you redeem shares of the second fund later on, you will pay a deferred sales charge based on the date when you bought shares of the first fund. Up to 10% of your Series A shares may be redeemed each year without incurring a redemption fee.

3 Yorkville Global Opportunities Class Series A You do not pay these expenses directly. They affect you because they reduce the Fund s returns. Annual rate (as a % of the Fund s value) Management expense ratio (MER) This is the total of the Fund s management fee and operating expenses. Trading expense ratio (TER) These are the Fund s trading costs. This is the total of all ongoing expenses set out in the chart and is not a separate expense charged to the Fund. The Fund s expenses are made up of the management fee, operating expenses and trading costs. The Fund s annual management fee is 2.00% of the Fund s value. Because this Fund is new, its operating expenses and trading costs are not yet available. Trailing commission Yorkville Asset Management Inc. pays your dealer a trailing commission for as long as you own shares of the Fund. It is for the services and advice your dealer provides to you. Dealers may pay part of the trailing commission to their representatives. The trailing commission is paid by Yorkville Asset Management Inc. out of the management fee. The maximum annual trailer fee rate for Series A shares of the Fund is up to 0.75%, which equals $7.50 for every $1,000 invested. Other fees You may have to pay other fees when you sell or switch shares of the Fund. Fee Short-term trading fees Up to 2% of the amount redeemed if you (i) request a switch within two weeks of an earlier switch; (ii) redeem or switch within 90 days of purchase; or (iii) appear to be timing market activity. This fee is charged by the Fund. Switch fees Your dealer may charge you up to 2% of the net asset value of the switched shares, as negotiated between you and your dealer. Manual transaction fees Yorkville Asset Management Inc. may charge a fee of up to $25 if you request your systematic withdrawal plan ( SWP ) payment by cheque. What if I change my mind? Under securities law in some provinces and territories, you have the right to: withdraw from an agreement to buy mutual fund securities within two business days after you receive a simplified prospectus, or cancel your purchase within 48 hours after you receive confirmation of the purchase. In some provinces and territories, you also have the right to cancel a purchase, or in some jurisdictions, claim damages, if the simplified prospectus, annual information form or financial statements contain a misrepresentation. You must act within the time limit set by the securities law in your province or territory. For more information, see the securities law of your province or territory or ask a lawyer. For more information Contact Yorkville Asset Management Inc. or your adviser for the Fund s simplified prospectus and other disclosure documents which have more detailed information. These documents and the Fund Facts make up the Fund s legal documents. Yorkville Asset Management Inc University Ave Toronto, ON, M5J 2H7 Phone: Toll-free: investorservices@yorkvilleasset.com TOR01: : v11

4 Yorkville Global Opportunities Class Series F This document contains key information you should know about Yorkville Global Opportunities Class (the Fund ). You can find more detailed information in the Fund s simplified prospectus. Ask your adviser for a copy, contact Yorkville Asset Management Inc. at or investorservices@yorkvilleasset.com, or visit Quick Facts Date fund created: (Series F) Portfolio manager: Yorkville Asset Management Inc. Total value: Management expense ratio (MER): Not applicable because the Not available because the Minimum investment: $1,000 initial, $100 additional, $100 Pre- Authorized Chequing Plans What does the fund invest in? The Fund seeks to provide long-term capital growth and preservation of capital by investing primarily in a portfolio consisting of global fixed income and equity securities and commodities. Top 10 investments How has the fund performed? This section tells you how the series has performed since inception. Returns are after fund expenses have been deducted. These expenses reduce the series returns. Returns are before any taxes you may incur. Your actual after-tax return will depend on your personal tax situation. It s important to note that this doesn t tell you how the Fund will perform in the future. Average return Year-by-year returns How risky is it? When you invest in a fund, the value of your investment can go down as well as up. Yorkville Asset Management Inc. expects that this Fund s risk level will be low to medium. For a description of the specific risks of this Fund, see the Fund s simplified prospectus. Investment mix Are there any guarantees? Like most mutual funds, this Fund doesn t have any guarantees. You may not get back the amount of the money you invest. Who is the fund for? Investors who: are seeking a tactically managed, well diversified portfolio of global fixed income, equity securities and exposure to commodities; are conservative and require capital preservation and long-term capital appreciation; are seeking low to medium investment risk; and have a medium term investment horizon (3 5 years). Before you invest in any fund, you should consider how it would work with your other investments and your tolerance for risk. A word about tax In general, you pay tax on your share of the fund s earnings and on taxable capital gains you realize from redeeming your investment. The amount of tax depends on the tax rates that apply to you, and the type of earnings realized by the fund (e.g. interest, dividends, capital gains, etc.). In general, registered retirement savings plans and other registered plans don t pay tax on investments. Low Low to medium to high High If you hold your investment outside of a registered plan, we will send you a tax slip that shows your share of the fund s earnings. You must calculate your taxable capital gains realized on redemption.

5 How much does it cost? FUND FACTS Yorkville Global Opportunities Class Series F The following tables show the fees and expenses you could pay to buy, own and sell Series F shares of the Fund. This Fund has other series of shares. The fees and expenses are different for each series of the Fund. Ask about other series that may be suitable for you. Sales charges No sales charges are payable when you purchase Series F shares. Instead, you pay your dealer a fee for investment advice and other services they provide to you. You do not pay these expenses directly. They affect you because they reduce the Fund s returns. Management expense ratio (MER) This is the total of the Fund s management fee and operating expenses. Trading expense ratio (TER) These are the Fund s trading costs. Annual rate (as a % of the Fund s value) This is the total of all ongoing expenses set out in the chart and is not a separate expense charged to the Fund. The Fund s expenses are made up of the management fee, operating expenses and trading costs. The Fund s annual management fee is 1.25% of the Fund s value. Your dealer must sign an eligibility agreement with us and your dealer is responsible for determining whether you are eligible to buy and continue to hold Series F shares. Because this Fund is new, its operating expenses and trading costs are not yet available. Trailing commission No trailing commission is paid in respect of Series F shares of the Fund. Other fees You may have to pay other fees when you sell or switch shares of the Fund. Series F switches are available through your dealer. You can switch between Heritage Yorkville Mutual Funds within the same series. Fee Short-term trading fees Switch fees Manual transaction fees Up to 2% of the amount redeemed if you (i) request a switch within two weeks of an earlier switch; (ii) redeem or switch within 90 days of purchase; or (iii) appear to be timing market activity. This fee is charged by the Fund. Your dealer may charge you up to 2% of the net asset value of the switched shares, as negotiated between you and your dealer. Yorkville Asset Management Inc. may charge a fee of up to $25 if you request your systematic withdrawal plan ( SWP ) payment by cheque. What if I change my mind? Under securities law in some provinces and territories, you have the right to: withdraw from an agreement to buy mutual fund securities within two business days after you receive a simplified prospectus, or cancel your purchase within 48 hours after you receive confirmation of the purchase. In some provinces and territories, you also have the right to cancel a purchase, or in some jurisdictions, claim damages, if the simplified prospectus, annual information form or financial statements contain a misrepresentation. You must act within the time limit set by the securities law in your province or territory. For more information, see the securities law of your province or territory or ask a lawyer. TOR01: : v14 For more information Contact Yorkville Asset Management Inc. or your adviser for the Fund s simplified prospectus and other disclosure documents which have more detailed information. These documents and the Fund Facts make up the Fund s legal documents. Yorkville Asset Management Inc University Ave Toronto, ON, M5J 2H7 Phone: Toll-free: investorservices@yorkvilleasset.com

6 Yorkville Global Opportunities Class Series O This document contains key information you should know about Yorkville Global Opportunities Class (the Fund ). You can find more detailed information in the Fund s simplified prospectus. Ask your adviser for a copy, contact Yorkville Asset Management Inc. at or investorservices@yorkvilleasset.com, or visit Quick Facts Date fund created: (Series O) Portfolio manager: Total value: Management expense ratio (MER): Not applicable because the Fund is new. Minimum investment: Yorkville Asset Management Inc. $50,000 initial What does the fund invest in? The Fund seeks to provide long-term capital growth and preservation of capital by investing primarily in a portfolio consisting of global fixed income and equity securities and commodities. Top 10 investments How has the fund performed? This section tells you how the series has performed since inception. Returns are after fund expenses have been deducted. These expenses reduce the series returns. Returns are before any taxes you may incur. Your actual after-tax return will depend on your personal tax situation. It s important to note that this doesn t tell you how the Fund will perform in the future. Average return Year-by-year returns How risky is it? When you invest in a fund, the value of your investment can go down as well as up. Yorkville Asset Management Inc. expects that this Fund s risk level will be low to medium. For a description of the specific risks of this Fund, see the Fund s simplified prospectus. Low Low to medium to high High Investment mix Are there any guarantees? Like most mutual funds, this Fund doesn t have any guarantees. You may not get back the amount of the money you invest. Who is the fund for? Investors who: are seeking a tactically managed, well diversified portfolio of global fixed income, equity securities and exposure to commodities; are conservative and require capital preservation and long-term capital appreciation; are seeking low to medium investment risk; and have a medium term investment horizon (3 5 years). Before you invest in any fund, you should consider how it would work with your other investments and your tolerance for risk. A word about tax In general, you pay tax on your share of the fund s earnings and on taxable capital gains you realize from redeeming your investment. The amount of tax depends on the tax rates that apply to you, and the type of earnings realized by the fund (e.g. interest, dividends, capital gains, etc.). In general, registered retirement savings plans and other registered plans don t pay tax on investments. If you hold your investment outside of a registered plan, we will send you a tax slip that shows your share of the fund s earnings. You must calculate your taxable capital gains realized on redemption.

7 Yorkville Global Opportunities Class Series O How much does it cost? The following tables show the fees and expenses you could pay to buy, own and sell Series O shares of the Fund. This Fund has other series of shares. The fees and expenses are different for each series of the Fund. Ask about other series that may be suitable for you. Sales charges There are no sales charges payable by you when you purchase Series O shares. Instead, you pay a negotiated administrative fee to Yorkville Asset Management Inc. for management and advisory services provided to you. You may switch from Series O shares in one Heritage Yorkville Mutual Fund to Series O shares of another, though only through Yorkville Asset Management Inc. No switch fees are payable on Series O shares. You do not pay these expenses directly. They affect you because they reduce the Fund s returns. Annual rate (as a % of the Fund s value) Management expense ratio (MER) This is the total of the Fund s management fee and operating expenses. Trading expense ratio (TER) These are the Fund s trading costs. This is the total of all ongoing expenses set out in the chart and is not a separate expense charged to the Fund. The Fund s expenses are made up of the management fee, operating expenses and trading costs. No annual management fee is charged to the Fund with respect to Series O shares, but investors will be charged a negotiated administrative fee by Yorkville Asset Management Inc. pursuant to an agreement entered into with the investor. Because this Fund is new, its operating expenses and trading costs are not yet available. Trailing commission No trailing commission is paid in respect of Series O shares of the Fund. Other fees You may have to pay other fees when you sell or switch shares of the Fund. Fee Short-term trading fees Manual transaction fees Up to 2% of the amount redeemed if you (i) request a switch within two weeks of an earlier switch; (ii) redeem or switch within 90 days of purchase; or (iii) appear to be timing market activity. This fee is charged by the Fund. Yorkville Asset Management Inc. may charge a fee of up to $25 if you request your systematic withdrawal plan ( SWP ) payment by cheque. What if I change my mind? Under securities law in some provinces and territories, you have the right to: withdraw from an agreement to buy mutual fund securities within two business days after you receive a simplified prospectus, or cancel your purchase within 48 hours after you receive confirmation of the purchase. In some provinces and territories, you also have the right to cancel a purchase, or in some jurisdictions, claim damages, if the simplified prospectus, annual information form or financial statements contain a misrepresentation. You must act within the time limit set by the securities law in your province or territory. For more information, see the securities law of your province or territory or ask a lawyer. TOR01: : v13 For more information Contact Yorkville Asset Management Inc. or your adviser for the Fund s simplified prospectus and other disclosure documents which have more detailed information. These documents and the Fund Facts make up the Fund s legal documents. Yorkville Asset Management Inc University Ave Toronto, ON, M5J 2H7 Phone: Toll-free: investorservices@yorkvilleasset.com