Mariner Coastal Land Fund shareholders have collectively approved the resignation of Mariner Securities (MSL) as responsible entity of the fund, with Valuestream Investment Management appointed in its place.
Valuestream intends to appoint Knights Capital Management to manage the fund’s assets.
Valuestream is expected to assume responsible entity duties within the next two weeks.
Meanwhile, a Mariner Property Trust No. 1 (MPT1) shareholders meeting that was to be held in order to gain approval for the transfer of the management rights of the MPT1 to Entrust Funds Management has been adjourn following changes in the transaction terms likely to have a positive impact on investors’ unit holdings.
The meeting will now be held on July 10, 2009.
