M&A - Centre Funds

Form Type: N-8F

Filing Date: 2025-06-05

Corporate Action: Merger

Type: New

Accession Number: 000139834425011380

Filing Summary: Centre Funds is applying for deregistration of the fund due to a merger. The board of directors approved the merger on November 15, 2024, and the shareholders approved it on April 16, 2025. The fund has made distributions to its shareholders on April 17, 2025, based on net assets and pro rata share ownership. Total expenses incurred for the merger were $585,676, including legal, accounting, and other related costs. Centre Funds has been reorganized into newly-formed series of Horizon Funds, with the surviving funds being Centre American Select Equity Fund and Centre Global Infrastructure Fund. The merger agreement was filed with the Commission under Registration No. 333-284170, type N-14, on February 6, 2025. Centre Funds has no outstanding debts and is not engaged in any business activities other than those necessary for winding up its affairs.

Form Type: N-CSRS

Filing Date: 2025-06-05

Corporate Action: Merger

Type: Update

Accession Number: 000139834425011366

Filing Summary: Centre Funds is reporting changes to the Centre American Select Equity Fund - Institutional and Investor classes for the period of October 1, 2024, to March 31, 2025. The Fund returned -7.83% compared to the S&P 500's -1.97%. The report notes significant fund changes, including a special meeting that approved the reorganization of the Fund into a new series of Horizon Funds on April 16, 2025. On April 17, 2025, assets will be transferred to the new Acquiring Fund, which will assume all liabilities, followed by the distribution of shares to current shareholders. The Fund's strategy focuses on companies with stable cash flows, while maintaining a defensive posture and limiting exposure to cyclical industries. Performance was negatively impacted by specific stock selections and hedging instruments, while notable positive contributions came from investments in the Energy and Healthcare sectors.

Form Type: DEFA14A

Filing Date: 2025-04-11

Corporate Action: Merger

Type: New

Accession Number: 000139834425006992

Filing Summary: Centre Funds is conducting a reorganization proposal for the Centre American Select Equity Fund and the Centre Global Infrastructure Fund to transition them into new mutual fund trust structures within Horizon Funds. Shareholders who own significant shares (20,000 or more for American Select Equity Fund, 5,000 or more for Global Infrastructure Fund) are urged to participate in voting on this matter. The funds' names will remain unchanged, but the assets and liabilities will be transferred to newly created corresponding funds with the same investment objectives and risks. The transaction is contingent on shareholder approval at a Special Meeting scheduled for April 16, 2025, and it is expected to be tax-free under Section 368(a) of the Internal Revenue Code. The Board of Trustees recommends a vote 'For' the proposal, emphasizing the importance of shareholder participation in the voting process. Voting options include phone, internet, or mail. The reorganization is expected to enhance operational efficiencies without impacting investments.