Barclays Global Investors Canada Limited (BGI Canada) and Brompton Funds LP announced that, at special meetings held today, unitholders have approved the transfer of the trusteeship and management of the BARCLAYSfunds closed-end fund business from BGI Canada to Brompton.
The transfer includes:
- Barclays Advantaged Corporate Bond Fund (BAC.UN);
- Barclays Advantaged Equal Weighted Income Fund (BAE.UN);
- Barclays Advantaged S&P(R)/TSX(R) Income Trust Index Fund (BAI.UN);
- Barclays Income + Growth Split Trust (BDS.UN; BDS.PR.A); and
- Barclays Top 100 Equal Weighted Income Fund (BTH.UN)>
BGI Canada had sought unitholder approval to transfer the funds to Brompton as part of a strategic decision to focus its resources on its iShares family of exchange-traded funds.
BGI Canada is an indirect subsidiary of Barclays PLC and part of Barclays Global Investors (BGI), a
division of Barclays PLC.
Brompton is a leader in the management of closed-end funds in Canada with 14 TSX-listed closed-end funds and over $3 billion in assets under management.
“We are pleased with the results of the vote and are committed to providing investors with continued access to high-quality investment products while ensuring their interests are protected,” said Mark Caranci, president, Brompton, in a news release.
The transfer of the trusteeship and management of the funds is expected to be implemented on or about October 27.