The Shelton Greater China Fund will make the switch from a closed-end fund to an open-end one. The change is expected to occur on October 7. The fund's shareholders earlier this year gave their nod to the proposed transition.

As part of the fund's transformation, Shelton announced a 90-day, two-percent redemption fee.

Shelton Capital Management is the investment adviser to the fund, which was previously known as the Taiwan Greater China Fund. Nikko Asset Management is the sub-advisor.

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Company Press Release

SHELTON GREATER CHINA FUND TRANSITION TO AN OPEN-END FUND

New Structure Provides Investors Daily Liquidity at Net Asset Value

SAN FRANCISCO – September 2, 2011 - The Shelton Greater China Fund (the "Fund") announced today that the conversion of the Fund from a closed-end fund to an open-end fund is expected to occur on October 7, 2011. At that time the Fund expects that the arrangements with its transfer agent and other service providers necessary to permit the Fund to function as an open-end fund will be in place. The Fund will confirm the conversion date by issuing a further press release approximately two weeks prior to the definitive date of conversion.

Shareholders of the Fund approved its conversion from closed-end to open-end earlier this year. As part of this conversion, Shelton Capital Management has announced a 90-day 2 percent redemption fee. The conversion from a closed-end fund, which trades at the current market price, to an open-end fund, which sells and redeems its shares at the day’s closing net asset value (NAV), will eliminate the discount at which the Fund has historically traded.

The Fund's objective is long-term capital appreciation by investing primarily in companies that (i) are domiciled in, or traded on exchanges located in the Greater China region, specifically Taiwan, Hong Kong, Singapore and the People's Republic of China or (ii) have derived or are expected to derive in the company's current fiscal year (measured as of the time of original investment) a significant portion (at least 50%) of their revenues by exporting to or importing from, trading with or operating in mainland China. A company meeting the requirements of either items (i) or (ii) of the previous sentence is defined as a "Greater China Company."

For more information about Shelton Capital Management, please contact Jami Schlicher 973-850-7309 or jschlicher@jcprinc.com. For inquiries about the Shelton Greater China Fund, please call 800-955-9988.

About Shelton Capital Management

Shelton Capital Management is a recently announced DBA for CCM Partners, which has served as the investment adviser and administrator to the California Investment Trust since 1985. For more information, please visit www.sheltoncap.com.

 

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