McLean Budden, Sun Life fund mergers approved

Regulatory approval has been granted for the applicable mergers, the companies said.

As previously announced, McLean Budden Money Market Fund will be merged into Sun Life Money Market Fund.This merger does not require unitholder approval or regulatory approval.

All of the mergers, other than the merger of McLean Budden Global Equity Fund into Sun Life MFS Global Growth Fund and the merger of McLean Budden International Equity Fund into Sun Life MFS International Growth Fund, will be effective on or about the close of business on March 30. On this date, unitholders of each terminating fund will receive units of the applicable continuing fund, and the ferminating fund will be wound up as soon as possible following the merger.

The merger of McLean Budden Global Equity Fund into Sun Life MFS Global Growth Fund and the merger of McLean Budden International Equity Fund into Sun Life MFS International Growth Fund will not be effective March 30, and instead, will be effective on a future date to be determined by Sun Life Global Investments that is no later than December 31.

Sun Life Global Investments is also authorized by unitholders to not to proceed with these mergers if Sun Life Global Investments considers it to be in the best interest of the applicable fund and its unitholders. Sun Life Global Investments will provide 60 days’ prior written notice to unitholders of McLean Budden Global Equity Fund and McLean Budden International Equity Fund before implementing the mergers involving these funds.

These mergers are in connection with the transfer of the mutual fund business of McLean Budden Ltd. to Sun Life Global Investments (Canada) Inc. which is expected to close on April 2.