Institutional HoldingMawer Investment Management reported taking an initial position in Richards Packaging Income Fund , with purchases for a total of 1,071,754 units, being 10.01% ownership, between July 1 to July 31, 2018.Blocks of shares were reportedly bought at a price ranging between $37 to $38.
Mawer Group is one of the most respected and portfolio managers having a successful track record and awards, with headquarters in Calgary. They offer mutual funds, institutional investing ( Manulife, BMO and several others) and discretionary portfolio investment services to large private investors, with total funds under management of $50 billion.
This news is really encouraging as we have Mawer's endorsement for this co.
Here is the Sedar filing dd August 10, 2018
"This report relates to units (the “Securities”) of Richards Packaging Income Fund (the “Reporting Issuer”).
Identity of the Eligible Institutional Investor
Mawer Investment Management Ltd. (“Mawer”) 600, 517 – 10 Avenue SW Calgary, Alberta T2R 0A8 Canada
The requirement to file this report was triggered on July 31, 2018 as a result of the purchase of Securities on behalf of client accounts over which Mawer has discretionary authority on several occasions between July 1, 2018 and July 31, 2018.
This is the first report filed by Mawer with respect to the Reporting Issuer.
1,071,754 Securities, representing approximately 10.01% of the outstanding Securities as at July 31, 2018.
All of the Securities referred to in Item 3.2 of this report are controlled (but not owned) by Mawer on behalf of client accounts over which it has discretionary trading authority."