News Releases

Notification of Temporary Redemption Suspension

March 23, 2020

We are in an unprecedented time of economic interruption due to the COVID-19 pandemic. Even with government actions, including the declaration of states of emergency and stimulus measures, the COVID-19 pandemic has created uncertainty throughout the country. The impact of the broad-based business closures in Canada and the US have yet to be determined, so we must be prudent and patient with our investment funds.


This meant that prudence required Trez to suspend redemptions in our open-ended funds effective 4PM EDT (Eastern Daylight Time) on Monday, March 23, 2020. Redemptions placed on or before Friday, February 28, 2020 will settle on the regular redemption schedule of T+20. All redemptions placed between then and Friday, March 20, 2020 will be canceled, and we will work to re-process these redemption requests as liquidity becomes available within the respective funds. At this time, there is no determined timeframe for settlement of these transactions, hence why they need to be cancelled. Furthermore, all redemptions placed after Friday, March 20, 2020 will not be accepted, and all funds remain temporarily closed to redemptions moving forward.


Taking this position was a very difficult decision. Trez has been in business since 1997 and during this 23-year period we have always placed your interests first and that is why we had to take this unusual step – to protect all of our investor whose interests are paramount to us. To ensure investor value, and out of prudence, we have also put a pause on new lending. Our focus right now is ensuring that investors are held whole and continuing to make our regular distributions, which so many of you rely on.


We will continue to communicate with you as appropriate. Please feel free to contact any of the below with any questions or concerns: