Press Releases
OceanRock Investments Inc. Announces Fund Mergers, Proposed Fixed Administration Fees and Other Changes to its Mutual Fund Lineup
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®.
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. |
|
eSports
TEAM VITALITY UNVEILS A SPECIAL EDITION JERSEY AND NEW CAMPAIGN FOR PERFECT WORLD SHANGHAI MAJOR 2024
- Leading global esports organization Team Vitality heads to China for the Perfect World Shanghai Major 2024, fueled by the ambition to reclaim their place at the top as the world’s best CS2 team.
- The team will proudly debut the club’s Shanghai Major Limited Edition White Fan Jersey from the Qualification Stage (RMR) onward. Designed in collaboration with Paris-based contemporary artist Nairone, this special edition jersey pays tribute to Counter-Strike and Team Vitality’s dedicated Chinese fanbase.
- For the occasion, Team Vitality is proud to present a new campaign titled “The Year of Vitality”.
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Global esports leader Team Vitality proudly announces its participation in the Perfect World Shanghai Major 2024. As one of the most competitive teams in the international esports circuit, Team Vitality is set to make a powerful impact in Shanghai in what promises to be a thrilling tournament.
With anticipation building for this pivotal event in a country full of dedicated Counter-Strike fans, the club will be unveiling a new campaign on its Chinese social media accounts named “The Year of Vitality” This tribute to Chinese culture also underscores the team’s determination to secure a back-to-back victory, solidifying its global dominance.
ALL EYES ON THE TROPHY
Team Vitality’s CS2 roster has consistently delivered strong performances over the past two years, capped by their recent win at Intel Extreme Masters (IEM) Cologne 2024. Having claimed the World Champion title at the BLAST Premier World Finals in 2023 and secured an iconic victory at the BLAST.TV Paris Major, the team has firmly established itself as one of the most dominant forces in competitive CS2. After a conclusive 3-0 qualification at the RMR in Shanghai, Team Vitality is set to reinforce its status on the world stage.
Team Vitality’s dedication to competitive excellence since entering the scene in 2018 has been instrumental in shaping the modern Counter-Strike era. With legends like ZywOo, crowned HLTV’s best player in 2019, 2020, and 2023, and apEx, a seasoned pro with over a decade in the game, the team has set new industry standards in skill, dedication, and leadership. Building on this momentum, Team Vitality is poised to leave a lasting legacy in esports and proudly represent France in Shanghai.
“We are thrilled to compete at the Shanghai Major and showcase the team’s hard work against the best teams globally,” says Fabien ‘Neo’ Devide, Chairman and Co-founder of Team Vitality. “Growing our global presence and supporting both players and our worldwide community remains a top priority. We’re especially excited for zywOo to deliver a stellar performance in front of our Chinese fans. I am incredibly proud of the team and can’t wait to see them on the big stage with our fans in China!”
GEARED UP FOR VICTORY WITH SHANGHAI EDITION OF THE ALTERNATE JERSEY
Team Vitality players will debut a special edition of their newly released Alternate Jersey on the stage, created exclusively for the Shanghai Major. This limited edition features a prominent “V” on the back, with design elements that pay homage to Counter-Strike, Shanghai, and the wider Chinese fanbase. The club released the exclusive jersey in a dedicated video that includes Chinese references, graphics and design.
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Crafted in collaboration with Paris-based contemporary artist Nairone, known for his striking black-and-white contrast style, the jersey blends modern streetwear aesthetics with esports flair, making it a standout choice for both fans and players. Team Vitality’s PERFECT video showcases how the 2024 Alternate Jersey can be styled, featuring star players and brand ambassadors, underscoring its unique place in both the fashion and esports worlds.
Available for purchase only online, this special version of the alternate jersey is limited to 150 pieces and costs 89,99€.
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TEAM VITALITY UNVEILS ITS NEW CAMPAIGN “THE YEAR OF VITALITY”
Team Vitality is excited to launch “The Year of Vitality,” a campaign celebrating Chinese culture and dedicated to Counter-Strike fans across China. This initiative reflects the team’s relentless pursuit of back-to-back victories on the world stage.
As China hosts this year’s Major, Team Vitality has chosen the dragon—a powerful symbol of ambition and determination—as the emblem of its campaign, representing the team’s commitment to overcoming challenges and dominating the competition. Each campaign visual draws inspiration from Chinese iconography, bringing the Counter-Strike team into this vibrant, culturally rich world.
In a tribute to Chinese tradition, the campaign combines gold and red to signify not only the country’s national colors but also the passion, energy, and unyielding drive to win. The design aims to honor Chinese fans’ enthusiasm and capture their hearts as Team Vitality battles to bring home another title.
Join us online to get behind-the-scenes content, exclusive updates, and the chance to celebrate each milestone with the team as they strive to secure their place at the top!
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- More information:
- Team Vitality website
- PR Contact:
- SwipeRight agency – [email protected]
- Team Vitality – [email protected]
Saroca Reimagines Leadership Development for the Gaming Industry
Saroca, a leader in professional development for the gaming industry, is proud to announce its Transformational Leadership Program, launching February 2025. Building on the success of the 2024 LeadHERship Program—a pioneering initiative for women in gaming—the new program expands its reach with two distinct cohorts: one exclusively for women and another open to all genders.
The Legacy of LeadHERship
The 2024 LeadHERship Program achieved an exceptional Net Promoter Score (NPS) of 90, with participants citing transformative growth. With participants like Clemence Dujardin citing it as a “game-changer”. Confidence in leadership abilities rose by 46%, resilience increased by 27%, and imposter syndrome diminished by 39%.
Participants praised the program’s focus on emotional resilience, feedback mastery, executive presence and communication all in a supportive community.
Leadership Development: A Game-Changer for Gaming
In a rapidly evolving and diversifying industry, strong leadership is essential. Saroca’s programs go beyond skill-building to foster resilience, trust, and inclusivity—key traits for thriving in the global gaming market.
“We believe leadership is not about hierarchy—it’s about transformation,” said Emily Leeb, CEO of Saroca. “The Transformational Leadership Program reflects our commitment to cultivating leaders who will shape the future of gaming.”
Transformational Leadership Program Highlights
The program builds on the proven curriculum of its predecessor, featuring:
- Two Cohorts: A women-only cohort and a new all-gender cohort to enrich perspectives.
- Eight Modules: Covering topics such as emotional intelligence, self-advocacy, and radical candor.
- Community and Growth Tracking: Strengthening connections and measuring individual progress.
Registration Now Open
The Transformational Leadership Program begins in February 2025, with limited spots available. Scholarships are also offered to ensure accessibility. For more information, visit Saroca’s website or contact [email protected].
About Saroca
Saroca is a leader in leadership development for the gaming industry, committed to empowering professionals through inclusive, high-impact programs that drive personal and professional growth.
The PUBG MOBILE tournament at WEC24 has officially wrapped up, delivering three days of competition that exceeded all expectations. With 10 out of 16 teams securing Chicken Dinners throughout the tournament, every map brought its own excitement, with the final rounds determining the champions and medal placements. We saw impressive viewership numbers with 776,454 unique viewers achieving 89,675 hours watched throughout the three days of competition.
On the competitive front, the Indonesian team set a WEC24 record by securing a Chicken Dinner with an astonishing 18 eliminations, packing a remarkable 28-point round.
Turkey stepped up to claim the title of WEC24 PUBG MOBILE Champions, delivering a fierce, precise performance and seizing the trophy in the final maps, a true champions’ style victory.
Congratulations are also due to Ukraine, who came very close to securing the gold. Consistent and determined to win, they kept fans and their nation on edge until the final rounds, ultimately securing the silver medal. Brazil took home the bronze, showcasing exceptional talent and positioning themselves as strong contenders for future titles.
Igor Nedeski, Esports Manager at IESF, praised the athletes, the tournament’s success, and the ongoing collaboration with Tencent: “The PUBG MOBILE tournaments have been one of the highlights of WEC for years now, and our ongoing collaboration and support from Tencent has played a huge role in its success. Congratulations to the medalists and to all athletes participating for their remarkable WEC24 performance.”
Micah Li, Senior Esports Manager at Tencent, “Congratulations to Turkey on becoming the WEC24 PUBG MOBILE Champions. We greatly value our partnership with IESF and the success we have achieved together over the years. We look forward to continuing this collaboration and delivering many more exceptional PUBG MOBILE tournaments in the future.”
With the PUBG MOBILE tournament concluded, IESF looks forward to further PUBG MOBILE competitions, as national teams from around the world improve year by year.
TEAM VITALITY UNVEILS A SPECIAL EDITION JERSEY AND NEW CAMPAIGN FOR PERFECT WORLD SHANGHAI MAJOR 2024
Saroca Unveils the Transformational Leadership Program for 2025
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