ClaringtonFunds Inc. today announced plans to merge 13 of its mutual funds into other Clarington funds, in the hopes of providing greater cost efficiency for its mutual fund investors.
The changes are still subject to approval from mutual fund investors and regulators. On August 17, 2005, there will be a meeting for affected mutual fund investors to approve the proposed mergers. Details of the mergers, including tax consequences to investors, will be circulated to mutual fund investors in July.
If approved by investors and regulators, the changes will take effect on August 26.