FOR IMMEDIATE RELEASE
TSX Symbol: RIB.UN
Toronto, March 31, 2011 - Ridgewood Capital Asset Management Inc. ( "Ridgewood "), the manager of Ridgewood Canadian Investment Grade Bond Fund (the "Fund "), is pleased to announce that at a special meeting of the holders of the Fund's trust units (the "Unitholders ") held today, over 97.5% of the Unitholders present in person or represented by proxy voted in favour of an amendment to the Fund's investment restrictions. In addition, Ridgewood announces that it has amended the investment strategy of the Fund.
Ridgewood has determined that it is desirable for a greater percentage of the Fund’s portfolio to be invested in investment grade bonds that are “Maples”, that is investment grade bonds issued by non- Canadian issuers and denominated in Canadian dollars. The investment strategy of the Fund has been amended to permit the Fund to invest up to 25% of its portfolio in investment grade bonds issued by non- Canadian issuers. The investment restrictions of the Fund have been amended to provide that the Fund shall not hold more than 10% of its net assets in investment grade bonds denominated in currencies other than Canadian dollars as at the time of purchase and as at June 30 and December 31 of each year.
Ridgewood provides investment counselling and portfolio management services to private clients, foundations, endowments, First Nations, and open and closed-end investment funds.For further information, please visit us at www.ridgewoodcapital.ca or contact John H. Simpson, CFA at 416 479 2751.