New Exchange Fund Assets

New Exchange Fund Assets. All financial assets acquired during a Performance Period resulting from the private offering of shares or units of one or more exchange funds offered and managed by any subsidiary or subsidiaries of the Company. Such assets shall include all qualifying assets acquired by an exchange fund during a Performance Period to ensure the nontaxability of the exchange of contributed securities for shares or units of the fund. All financial assets acquired by an exchange fund during a Performance Period... shall be valued as at the close of business on the exchange date, using the valuation of such assets employed by the fund at such date. View More