Chou Funds can be purchased by everyone through dealers and brokers across Canada. For those residing in the United States, please visit www.chouamerica.com. To invest through a discount broker or investment advisor, please contact the financial institution or investment advisor directly.
All funds are also available for purchase directly from Chou Associates Management. However, due to our limited market dealer registration, you must be an accredited investor* in order to purchase Series A units from us directly. For most individual investors, the following criteria apply:
- an individual who beneficially owns, or who together with a spouse beneficially own, financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds $1,000,000
- an individual whose net income before taxes exceeded $200,000 in each of the two most recent years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of those years and who, in either case, has a reasonable expectation of exceeding the same net income level in the current year
All purchase (initial and subsequent), redemption, and KYC forms for both brokerage and accredited investors are available here.
The minimum initial investment for any individual Fund is $5,000; the minimum for subsequent investment in any individual Fund is $500. We also offer PAC (Pre Authorized Chequing) for $500 per month.
Automatic Reinvestment of Dividends or Distributions
We automatically reinvest all dividends or distributions of a Fund in additional units of the Fund unless you tell us in writing you want to receive cash. Distributions are made effective December 31 in each year, with an ex-date of December 15th.
Early Redemption Fee
We have a redemption fee of 2% if unit holders redeem their units in less than 12 months. None of this fee goes to the Fund Manager. It is put back into the Fund for the benefit of the remaining unit holders. We hope this fee is enough to dissuade short-term investors from jumping in and out of the Fund to chase short-term performance.
Submit Redemption Request
For our direct investors, we require faxed, scanned, or mailed transaction instructions because of signature verification. Our contact information is as follow:
Our fax number is: 416-214-1733 / phone number is: 416-214-0675 should you have any questions. We can also be reached at firstname.lastname@example.org.
For clients who purchased through a broker or dealer, please contact your broker or dealer to place the order on your behalf.
Transaction Request Daily Deadline
Our Funds are valued every business day. For our direct investors, transaction requests received, in good order, before 4:00 pm Toronto time will be processed as of that trade date. If they are received after 4:00 pm, or are not in good order, they will be processed on the next valuation date, or as of the next valuation date that the request is in good order. (In the event that a certain business day is a holiday or weekend, the Funds will be valued on the next available business day; the same 4:00 pm time parameters would apply) For our clients who purchased through a broker or dealer, please contact them directly for the deadline which may vary from dealer to dealer.
Click here to see our FAQs from investors.