Toronto-based Dynamic Funds announced on Thursday it’s proposing to merge a slew of funds in a bid to produce a “more streamlined” product lineup.
Affected securityholders will vote on the proposed mergers at a special meeting to be held in Toronto on or about June 9. If approved, the proposed fund mergers are expected to take place on or about June 30. The fund manager, 1832 Asset Management LP, will shoulder any costs and expenses that result from these changes. (A full list of the affected funds is available in the firm’s news release.)
All of the securities associated with the funds to be terminated will be redeemed in exchange for securities of the continuing fund, the announcement says.
Most of the affected funds will see a continuation of the pre-authorized contribution and automatic withdrawal plans that had been previously set. Further details will be made available through the firm’s management information circular.
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