Unitholders have approved a resolution to merge IA Clarington Global Small Cap Fund into IA Clarington Global Opportunities Fund, Toronto-based IA Clarington Investments Inc. announced Monday.

Unitholders approved the resolution at a special meeting held June 18.

The merger consolidates two funds managed by the same sub-advisor, Radin Capital Partners, with similar investment strategies into a single, larger fund with lower fees for retail investors than the IA Clarington Global Small Cap Fund.

The merger, which has also received regulatory approval, is expected to take place after the close of business on June 27.