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OceanRock Investments Inc. Announces Fund Mergers, Proposed Fixed Administration Fees and Other Changes to its Mutual Fund Lineup

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TORONTO, July 06, 2018 (GLOBE NEWSWIRE) — OceanRock Investments Inc. (the “Manager”), the manager of the OceanRock and Meritas SRI Funds (collectively, the “Funds”), today announced proposals to merge a number of its Funds, to change the method of charging operating expenses to a number of Funds to increase fee predictability and transparency, and certain other changes, all described below.  A special meeting of unitholders (the “Special Meeting”) will be held in Vancouver on or about August 31, 2018 to consider certain of the proposed changes.

“With the formation of Aviso Wealth, our goal is to always offer advisors and investors compelling and competitive investment solutions under the NEI name”, said Fred Pinto, SVP, Head of Asset Management at Aviso Wealth. “These proposed mergers will help us meet that objective and strengthen NEI’s position as Canada’s leading provider of responsible investment solutions.”

In addition, effective July 12, 2018, the management fee charged to Series A of Meritas International Equity Fund will be reduced from 2.25% to 1.95%.

Fund Mergers

Provided the mergers receive the required unitholder and regulatory approvals, each Terminating Fund will merge into the corresponding Continuing Fund (as listed below). Northwest & Ethical Investments L.P. (“NEI”), an affiliate of the Manager, is the manager of each Continuing Fund other than Meritas International Equity Fund and, in the case of Meritas International Equity Fund, NEI will, subject to unitholder and regulatory approval, become the manager of that Fund (as described in more detail below).  The proposed fund mergers are outlined in the table below:

Terminating Fund Continuing Fund
OceanRock Canadian Equity Fund NEI Canadian Equity Fund
OceanRock Growth Portfolio NEI Select Growth Portfolio
OceanRock Income & Growth Portfolio NEI Select Income & Growth Portfolio
OceanRock International Equity Fund Meritas International Equity Fund
OceanRock Maximum Growth Portfolio NEI Select Maximum Growth Portfolio
Meritas Canadian Bond Fund NEI Canadian Bond Fund
Meritas Growth Portfolio NEI Select Growth RS Portfolio
Meritas Income Portfolio NEI Select Income RS Portfolio
Meritas Income & Growth Portfolio NEI Select Income & Growth RS Portfolio
Meritas Strategic Income Fund NEI Conservative Yield Portfolio
Meritas U.S. Equity Fund NEI U.S. Equity RS Fund
OceanRock Balanced Portfolio NEI Select Balanced Portfolio
Meritas Balanced Portfolio NEI Select Balanced RS Portfolio
Meritas Monthly Dividend and Income Fund NEI Canadian Equity RS Fund

The Independent Review Committee for the Terminating Funds will consider the mergers and the result of their assessment as well as full details about the proposed merger will be set out in the Management Information Circular that will be sent in July to unitholders of record as at July 13, 2018.  If approved, it is anticipated that each proposed merger will be implemented on or about October 26, 2018.  All costs and expenses associated with the mergers will be borne by the Manager.

Suspension of New Purchases

New purchases of securities of a Terminating Fund will be suspended effective September 1, 2018.  In most cases, pre-authorized contribution plans and automatic withdrawal plans which have been established with respect to a Terminating Fund will be re-established with respect to the corresponding Continuing Fund following the mergers.  More particulars regarding these matters will be set out in the Management Information Circular.

INVESTMENT OBJECTIVES, FUND NAME & MANAGER CHANGES

As well, the Manager today announced, with respect to the funds listed in the chart below (the “Selected Funds”), proposals to: (i) replace the Manager of the Selected Funds with NEI; (ii) modify the language in the investment objectives of the Selected Funds; and (iii) rename the Selected Funds.  The first two proposals will be considered at the Special Meeting.  If the first two proposals are approved at the Special Meeting then all three proposals will be implemented effective on or about October 26, 2018.  The Manager believes that the interests of unitholders of the Selected Funds will be better served by modifying the language in the investment objectives of those Selected Funds.  Appendix A contains a summary of the current proposed modifications to the investment objectives of the Selected Funds.  The proposed name changes of the Selected Funds are as follows:

Current Name of Selected Fund Proposed Name of Selected Fund
Meritas Jantzi Social Index® Fund NEI Jantzi Social Index® Fund
Meritas International Equity Fund NEI International Equity Fund
OceanRock Growth & Income Portfolio NEI Select Growth & Income Portfolio
OceanRock US Equity Fund NEI U.S. Equity Fund
Meritas Growth & Income Portfolio NEI Select Growth & Income RS Portfolio
Meritas Maximum Growth Portfolio NEI Select Maximum Growth RS Portfolio
OceanRock Income Portfolio NEI Select Income Portfolio

Full details about these proposals will be set out in the Management Information Circular that will be sent in July to unitholders of record.

FIXED RATE ADMINISTRATION FEE

In addition to the proposals outlined above, the Manager today also announced a proposal to change the method of charging operating expenses to the Selected Funds to increase fee predictability and transparency.  If the proposal is approved by unitholders of a Selected Fund then effective on or about October 26, 2018 NEI will pay for all of the operating expenses of the Selected Fund other than those operating expenses listed below. In return for paying the operating expenses, NEI will receive a fixed rate administration fee from the Selected Fund. The operating expenses that each Selected Fund will continue to pay are costs and expenses relating to the independent review committee of the Selected Fund, new government or regulatory requirements, taxes, borrowing and interest and portfolio transaction costs.

Currently, each Selected Fund pays all of its own operating expenses, which comprise a portion of the management expense ratio of the Selected Fund.  This change will provide investors with increased predictability and transparency in fees as components of the management expense ratio for the Selected Funds will become fixed rather than varying from year to year as they do presently.

Under the proposal, the fixed rate administration fee will range from 0.20% to 0.40% of the respective Selected Fund’s assets under management, depending on the Selected Fund. The fixed rate administration fee for each series of a Selected Fund will be lower than or equal to the actual operating expenses paid by such series of the Selected Fund during its most recently completed financial year on a pre-absorption basis. Similar fixed rate administrative fee proposals have been adopted by unitholders at a number of Canada’s largest mutual fund companies, including NEI.

Full details about this proposal will be set out in the Management Information Circular that will be sent in July to unitholders of record.

About OceanRock Investments Inc.

OceanRock Investments Inc. is a Canadian Responsible Investment leader, managing $2 billion on behalf of Canadian investors. OceanRock offers a comprehensive range of managed portfolio solutions and individual funds to meet the needs of individual and institutional investors. OceanRock is dedicated to offering disciplined, risk-controlled and diversified investment solutions to Canadian individual and institutional investors and has a core commitment to Responsible Investing through its Meritas SRI Funds. OceanRock Investments Inc. is a wholly owned subsidiary of Aviso Wealth Inc.

Media Contact

Connie Burke
infinitycomm
[email protected]
Office: 905-257-5555

Appendix A

Meritas Jantzi Social Index® Fund (to be renamed NEI Jantzi Social Index® Fund)
Current Fundamental Investment Objective Proposed Fundamental Investment Objective
The fundamental investment objective of the Meritas Jantzi Social Index® Fund (the “JSI®”) is to seek capital appreciation with current income being a secondary investment objective. The Fund will invest primarily in Canadian equity securities which comprise the JSI®. The Fund may not track the returns of the JSI® perfectly as we have implemented certain additional features which will affect the Fund’s performance relative to the JSI®.

  • The JSI® does not currently screen out companies involved in the following areas: alcohol, gambling and pornography. We have chosen to overlay these screens on the companies in the index.
  • The JSI® is a market-weight index and we have chosen to cap the individual weighting of any one company at 10% of the value of the Fund based on a market test.
  • We will also be committing up to 2% of the assets of the Fund towards “Impact Investing” which are outlined on page 25 of its prospectus.
  • Where a security is eliminated from the portfolio or reduced based on the above guidelines, we will redistribute the assets that would have been in that security on a pro rata basis to the remaining securities in relation to the representation on the index.

Should the additional screens mentioned above result in the removal of more than five securities from the portfolio, we will be required to change the name of the Fund.

As this Fund invests in a socially responsible manner, it must adhere to the “Criteria for Responsible Investing” outlined on page 23 of its prospectus. For the Fund to change its investment objectives, the change must be approved by a majority of votes at a unitholders’ meeting called specifically for that purpose.

The investment objective of the Fund is to achieve long-term capital growth by investing primarily in equity and equity related securities of companies in Canada.

The Fund follows a responsible approach to investing, as described in this prospectus.

Unitholder approval (by a majority of votes cast at a meeting of unitholders) is required prior to a fundamental change of investment objectives.

OceanRock Growth & Income Portfolio (to be renamed NEI Select Growth & Income Portfolio)
Current Fundamental Investment Objective Proposed Fundamental Investment Objective
The fundamental investment objective of the OceanRock Growth & Income Portfolio is to achieve long term capital growth along with preservation of capital while providing for current income by investing primarily in a combination of OceanRock Mutual Funds (the “underlying funds”).

For the Fund to change its investment objectives, the change must be approved by a majority of votes at a unitholders’ meeting called specifically for that purpose.

The Portfolio’s investment objective is to provide long-term capital growth, and generate some income by investing primarily through exposure to equity and fixed income securities.

To achieve its objective, the Portfolio will invest in underlying mutual funds, which may be managed by NEI Investments.

Unitholder approval (by a majority of votes cast at a meeting of unitholders) is required prior to a fundamental change of investment objectives.

OceanRock U.S. Equity Fund (to be renamed NEI U.S. Equity Fund)
Current Fundamental Investment Objective Proposed Fundamental Investment Objective
The fundamental investment objective of the OceanRock U.S. Equity Fund is to achieve long-term capital growth primarily through investing directly or indirectly in equity securities, ETFs and mutual funds with exposure to U.S. equity markets.

For the Fund to change its investment objectives, the change must be approved by a majority of votes at a unitholders’ meeting called specifically for that purpose.

The investment objective of the Fund is to achieve long-term capital growth by investing primarily in equity and equity related securities of companies in the United States.

Unitholder approval (by a majority of votes cast at a meeting of unitholders) is required prior to a fundamental change of investment objectives.

Meritas Growth & Income Portfolio (to be renamed NEI Select Growth & Income RS Portfolio)
Current Fundamental Investment Objective Proposed Fundamental Investment Objective
The fundamental investment objective of the Meritas Growth & Income Portfolio is to seek capital appreciation with some emphasis on current income. The Fund will invest primarily in units of other Meritas SRI funds (“underlying funds”).

As this Fund invests in a socially responsible manner, it must adhere to the “Criteria for Responsible Investing” outlined on page 23 of its prospectus. For the Fund to change its investment objectives, the change must be approved by a majority of votes at a unitholders’ meeting called specifically for that purpose.

The Portfolio’s investment objective is to provide long-term capital growth, and generate some income by investing primarily through exposure to equity and fixed income securities.

To achieve its objective, the Portfolio will invest in underlying mutual funds, which may be managed by NEI Investments.

The Portfolio follows a responsible approach to investing, as described in this prospectus.

Unitholder approval (by a majority of votes cast at a meeting of unitholders) is required prior to a fundamental change of investment objectives.

Meritas Maximum Growth Portfolio (to be renamed NEI Select Maximum Growth RS Portfolio)
Current Fundamental Investment Objective Proposed Fundamental Investment Objective
The fundamental investment objective of the Meritas Maximum Growth Portfolio is to seek strong growth and capital appreciation. The Fund will invest primarily in units of other Meritas SRI Funds, but also may invest in units of other socially responsible investing funds managed by the Manager (“underlying funds”).

As this Fund invests in a socially responsible manner, it must adhere to the “Criteria for Responsible Investing” outlined on page 23 of its prospectus. For the Fund to change its investment objectives, the change must be approved by a majority of votes at a unitholders’ meeting called specifically for that purpose.

The Portfolio’s investment objective is to provide long-term capital growth by investing primarily through exposure to equity securities.

To achieve its objective, the Portfolio will invest in underlying mutual funds, which may be managed by NEI Investments.

The Portfolio follows a responsible approach to investing, as described in this prospectus.

Unitholder approval (by a majority of votes cast at a meeting of unitholders) is required prior to a fundamental change of investment objectives.

OceanRock Income Portfolio (to be renamed NEI Select Income Portfolio)
Current Fundamental Investment Objective Proposed Fundamental Investment Objective
The fundamental investment objective of the OceanRock Income Portfolio is to seek current income with a small emphasis on capital appreciation. The Fund will invest primarily in units of other OceanRock Mutual Funds and Meritas SRI Funds (the “underlying funds”).

For the Fund to change its investment objectives, the change must be approved by a majority of votes at a unitholders’ meeting called specifically for that purpose.

Investment Objectives 

The Portfolio’s investment objective is to generate income, and provide some long-term capital growth by investing primarily through exposure to equity and fixed income securities.

To achieve its objective, the Portfolio will invest in underlying mutual funds, which may be managed by NEI Investments.

Unitholder approval (by a majority of votes cast at a meeting of unitholders) is required prior to a fundamental change of investment objectives.

Meritas International Equity Fund (to be renamed NEI International Equity Fund)
Current Fundamental Investment Objective Proposed Fundamental Investment Objective
The fundamental investment objective of the Meritas International Equity Fund is to seek capital appreciation with current income as a secondary objective. The Fund will invest primarily in equity securities of companies outside North America.

As this Fund invests in a socially responsible manner, it must adhere to the “Criteria for Responsible Investing” outlined on page 23 of its prospectus. For the Fund to change its investment objectives, the change must be approved by a majority of votes at a unitholders’ meeting called specifically for that purpose.

The investment objective of the Fund is to achieve long-term capital growth by investing primarily in equity and equity related securities of companies outside of Canada and the United States.

Unitholder approval (by a majority of votes cast at a meeting of unitholders) is required prior to a fundamental change of investment objectives.

Source: Press Releases Published on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Bulgaria

SOFTSWISS Gets Certification for Its Jackpot Aggregator in Bulgaria

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SOFTSWISS, a leading technology provider for iGaming, has further solidified its presence in the European market by securing certification for its Jackpot Aggregator in Bulgaria. 

The iGaming market in Bulgaria is experiencing significant growth, attracting new businesses despite stringent domestic regulations. The market is projected to generate 168.70 million euro in revenue by 2028, with an annual growth rate of 5.42%. The number of users is expected to reach 377.3 thousand by the same year, further highlighting the sector’s momentum.

In line with this growth, SOFTSWISS announces that its Jackpot Aggregator has received certification from Gaming Laboratories International (GLI), ensuring it meets all technical requirements for use in the Bulgarian market. With the new certification of the SOFTSWISS Jackpot Aggregator, Bulgarian-licensed operators can integrate this advanced engagement tool into their casino offerings.

In May, SOFTSWISS successfully entered the Bulgarian market through a partnership with Topwin.bg, which implemented the SOFTSWISS Casino Platform, the Game Aggregator, and the Sportsbook.

“We are seeing a strong surge in interest in our jackpot mechanic, fueled by the growing demand for engagement tools in the market. That’s why we are committed to further developing the Jackpot Aggregator, enhancing its features, and expanding into new markets. Certification for the Bulgarian market is a clear testament to our ambition and drive for expansion. We are actively working on obtaining certifications in other jurisdictions,” comments Angelina Stasiuk, Head of Business Line at SOFTSWISS Jackpot Aggregator.

SOFTSWISS has several international and national licences and certifications, including a South African licence acquired through the purchase of a majority stake in Turfsport. The company recently announced its plans to become the first certified software provider in Brazil.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

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Are slots losing popularity?

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What are the most popular games? What iGaming providers have achieved the greatest success? SOFTSWISS, an innovative company providing a complete ecosystem of comprehensive software solutions, shares valuable insights across regional markets.

The analysis presented is based on the Game Aggregator data spanning the second half of 2022 and the first half of 2023.

 

Europe

Slot games remain popular in Europe, even though they lost around five p.p. during H2 2022 and H1 2023. Despite this decline, their market share still exceeds 80% among the other gaming categories. In contrast,  card games improved their position by almost four p.p.

The top five most popular game categories underwent minor changes in Q2 2023. The Total Bets Sum in Craps games saw a substantial increase, growing 2.7 times in comparison to the previous quarter. This boost in performance secured the fifth position for this type of games in the top rankings, displacing casual games.

 

Gates of Olympys, Big Bamboo and Midas Golden Touch emerged as some  of the most popular games during the past year. Notably, the landscape of top games exhibited significant variations from quarter to quarter.

In the European gaming sector of 2022-2023,  top-performing game providers include Amatic, Amusnet (EGT), BGaming, Evolution, Pragmatic Play, Push Gaming, and Relax Gaming. Their positions in the rankings experienced subtle shifts from quarter to quarter.

 

Asia

The top five most popular game categories in Asia have exhibited a consistent trend since the final quarter of 2022. Slot games hold a prominent position  in the asian gaming landscape, with their  market share exceeding 80% compared to other categories.

 

Gates of Olympys claimed the title of the most popular game in Asia in Q4 2022, and has maintained its leading position since. Meanwhile, another popular game, Bonanza Billion, has experienced fluctuations in its rankings within  the top five since the end of the previous year. The Total Bets Sums of Aviator increased twofold during the first half of this year, propelling the game into a leadership position.  In contrast, the once-popular game, Hot Fruits, lost its foothold in the top rankings during the second quarter of 2023.

As for the most successful game providers in Asia, it should be noted that Evolution, Pragmatic Play and BGaming have continually jostled for positions within the top five over  the past four quarters under review. Play’n Go and Amatic ceded their places in the rankings  to 1spin4win and Amusnet (EGT), with the latter heading the list in Q2 2023.

Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator, comments: “The popularity of the Aviator game can be explained by simple interface and fast payouts. What sets it apart even further is its distinctive gameplay mechanics, which significantly differ from other crush games in the market. Notably, Aviator provides players with the illusion of “control” over the game, adding an extra level of excitement and intrigue.”

 

Latin America

The top five of the most popular game categories in LatAm have remained consistent over the last year, with almost 60% of these categories dominated by  slots.

 

The current top five most popular games are as follows:

Roleta Brasileiri  – 8.27%
Aviator – 5.97%
Gates of Olympus – 5.24%
Sweet Bonanza  – 3.44%
Crazy Time – 3.14%

Notably, Aviator surged to the top in Q4 2022, experiencing a significant increase in the Total Bets Sum, nearly 170 mln euro more in comparison with the previous quarter. This success propelled its provider, Spribe, from the tenth place in Q3 2022 to the fourth in Q2 2023, displacing Play’n GO from the top five. Other providers, specifically Pragmatic Play, Evolution, Playtech, and BGaming, remained  in the top with minor shifts in their rankings over the past year.

The top five most popular games account for approximately 25% of the Total Bets Sum across all games in Latin America, while in Europe and Asia the same covers around 10%. Another noteworthy  market trend is the displacement of slots with roulette, and the growing preference for live games.

Carla Dualid, Regional Business Development Manager at SOFTSWISS in LatAm, comments: “Players in Latin America in the context of online gambling may differ from players in Europe in several ways. Most Latin American players bet through mobile devices and prefer online play. Local casino slot players tend to place small but regular bets, which distinguishes them from European online casino players, who, in turn, bet less frequently, but wager larger sums on slots. Speaking about the LatAm market, we should keep in mind that Brazil is the most active player in it. Such factors as economic potential, increasing Internet penetration, mobile accessibility, and regulatory changes are making the Brazilian market more attractive for operators.”

 

About SOFTSWISS

SOFTSWISS is an international iGaming company supplying certified software solutions for managing gambling operations. The expert team, which counts 1,400 employees, is based in Malta, Poland, Georgia, and Belarus.  SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

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iGaming

Hop into Fun and Prizes with Easter Plinko Slot: Unleash the Easter Magic!

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Easter is just around the corner, and what better way to celebrate than by hopping into the exciting world of Easter Slot Plinko? Get ready to unleash the Easter magic with this thrilling slot game that promises fun, prizes, and endless entertainment. Whether you’re a seasoned slot player or new to the game, Easter Plinko Slot offers an unforgettable experience that will leave you craving for more.

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As you embark on this magical Easter adventure, you’ll be greeted with a visually stunning and engaging slot game. The captivating graphics and vibrant colors bring the Easter theme to life, immersing you in a world of bunnies, eggs, and all things festive. Each spin of the reels is like opening a surprise Easter egg, filled with excitement and anticipation.

Easter Plinko Slot is designed to cater to players of all skill levels, ensuring that everyone can have a fantastic time. Whether you’re a casual player looking for some lighthearted entertainment or a high roller seeking big wins, this slot game has something for everyone.

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The seamless gameplay and optimized mobile interface ensure that you can fully immerse yourself in the Easter magic, no matter the device you choose to play on. So, whether you’re waiting for the Easter bunny or simply looking to pass the time, Easter Plinko Slot has got you covered.

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As Easter approaches, it’s time to embrace the festive spirit and dive into the world of Easter Plinko Slot. Unleash the Easter magic and hop into a world of fun, prizes, and endless entertainment. With its stunning visuals, intuitive gameplay, and exciting bonuses, Easter Plinko Slot offers an unforgettable experience that will keep you coming back for more.

Get ready to embark on an Easter adventure like no other and let the charm of Easter Plinko Slot captivate you. Spin the reels, unlock bonuses, and watch as the Easter magic unfolds before your eyes. It’s time to celebrate Easter in style with Easter Plinko Slot!

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