Goodman & Co., Investment Counsel Ltd. yesterday announced plans to merge several Cartier mutual funds, subject to receipt of all necessary unitholder and regulatory approvals.
Under the proposal, Cartier U.S. Equity Fund and Cartier Global Leaders RSP Fund will be merged into Cartier Global Equity Fund.
Investors will be asked to approve the mergers at special meetings to be held on or about May 20, 2005. The mergers may also require regulatory approval. If approved, the mergers will take effect after the close of business on a date determined by Goodman & Co., currently expected to be May 27, 2005.
Goodman & Co. says the proposed mergers will eliminate overlap and achieve cost-efficiencies by merging mutual funds with similar investment objectives.
The Cartier Funds, launched in 1999, and the MultiPartners Portfolios (which include Cartier Funds and funds from six leading companies), launched in 2002, have $500 million in assets under management.