Faircourt Asset Management migrates 2 funds to NEO

Toronto-based Faircourt Asset Management Inc. is migrating two closed-end funds to NEO Exchange from the Toronto Stock Exchange (TSX), Aequitas NEO Exchange Inc. said Wednesday.

Faircourt Split Trust, including both units (FCS.UN) and preferred securities (FCS.PR.C), and Faircourt Gold Income Corp. (FGX) will be voluntarily delisted from the TSX on Dec. 20 and will begin trading on NEO on Dec. 21, NEO said in a news release.

“We look forward to migrating our funds to NEO later this week and begin realizing costs savings with our listing fees. We are committed to pass along these savings to our securityholders,” said Charles Taerk, president and CEO at Faircourt, in a statement.

NEO Exchange is home to eight corporate listings and more than 65 investment fund listings from 11 Canadian providers.

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