M&A - NORTH COUNTRY FUNDS

Form Type: DEF 14A

Filing Date: 2025-01-22

Corporate Action: Merger

Type: New

Accession Number: 000158064225000386

Filing Summary: The North Country Funds is proposing a significant change in the management and operations of The North Country Large Cap Equity Fund, as the current investment adviser, North Country Investment Advisers, Inc., intends to exit the mutual fund investment advisory business. To facilitate this transition, the Fund seeks shareholder approval to replace North Country Advisers with Advisors Preferred LLC as the new adviser. This involves calling two special meetings of shareholders on February 26, 2025, to discuss two main proposals: 1) Election of five new trustees to the Board; and 2) Approval of a new investment advisory agreement with Advisors Preferred. The approval of these proposals is deemed critical for the Fund’s ongoing operations, and should they not be approved, the current Board and adviser would remain in place. The proposals aim to enhance operational efficiency and reduce advisory fees, thereby providing potential cost savings to shareholders.

Form Type: PRE 14A

Filing Date: 2025-01-06

Corporate Action: Acquisition

Type: New

Accession Number: 000158064225000096

Filing Summary: The North Country Funds is seeking shareholder approval at two special meetings scheduled for February 26, 2025, to facilitate the acquisition of new trustees and a new investment advisory agreement with Advisors Preferred LLC. North Country Investment Advisers, the current adviser, plans to exit the mutual fund advisory business, prompting the need for this change. Proposal 1 seeks to elect five new trustees, while Proposal 2 requests approval of the new advisory agreement that will reduce the advisory fee from 0.75% to 0.70% and cap total operating expenses to 1.03% for the next two years. Shareholders are strongly encouraged to vote in favor of both proposals to ensure the continuity and improvement of fund management. If the proposals do not pass, the fund may remain with its current structure, with potential liquidation as a consideration by the Board.