Symphony Floating Rate Senior Loan Fund Announces Results of Special Meeting

Executive Summary

• Unitholders approved a merger of the Symphony Floating Rate Senior Loan Fund into Brompton Wellington Square Investment Grade CLO ETF, with an expected effective date around January 13 2026.
• The merger will exchange Class A and Class U units for CAD‑denominated and USD‑denominated units of the ETF based on net asset value, and accelerate the next annual redemption date to December 30 2025.
• Management highlights benefits including higher credit quality, lower MER, elimination of borrowing, higher distributions, tighter bid/ask spreads, greater liquidity, and trading closer to NAV.

Key Details

• Resolution Approval: 98.9% of unitholder votes in favour at the special meeting held on Nov 17 2025.
• Merger Structure:
• Class A units → CAD Units of the ETF.
• Class U units → USD Units of the ETF.
• Exchanges based on respective NAVs of each class.
• Timeline:
• Merger expected to close on or about Jan 13 2026, subject to regulatory approval.
• Accelerated annual redemption date moved forward to Dec 30 2025; proceeds payable by Jan 9 2026.
• Redemption tender deadline: 5:00 p.m. Toronto time, Dec 1 2025.
• ETF Investment Objective: Provide high monthly income and capital preservation via a portfolio of investment‑grade CLOs (BBB‑ or higher).
• Currency Hedging: ETF will hedge virtually all foreign‑currency exposure for CAD Units; USD Units remain unhedged.
• Management‑Stated Benefits:
  1. Higher credit quality of underlying assets.
  2. Lower management expense ratio compared with the Fund.
  3. Elimination of borrowing (no leverage).
  4. Continued focus on high monthly distributions.
  5. Reduced bid/ask spread, enhancing trading efficiency.
  6. Increased liquidity on the TSX.
  7. Trading price expected to stay closer to NAV.
• Unitholder Action: No action required to become ETF unit holders; units will be automatically exchanged at merger completion.
• Reference Documents: Management Information Circular dated Oct 15 2025 available at www.bromptongroup.com and www.sedarplus.ca.

Notable Quotes

(No direct quotes were provided in the release.)