For an investment fund, a material change is:
- a change in the business, operations or affairs of the fund that would be considered important by a reasonable investor in determining whether to purchase or continue holding securities of the fund; or
- a decision by management of the investment fund to implement such a change.
For more information:
- Part 11 of National Instrument 81-106 Investment Fund Continuous Disclosure
- Form 51-102F3 Material Change Report