Dynamic Mutual Funds Ltd. announced Friday that it plans to merge 31 mutual funds. Dynamic says the proposed mergers will eliminate overlap and achieve cost-efficiencies by merging mutual funds with similar investment objectives.

Dynamic also announced various changes related to the mergers, an amendment to one fund’s investment objectives, and changes to certain funds’ names.

Investors will be asked to approve the mergers at special meetings on or about July 21. Certain mergers will also require regulatory approval.

If approved, the mergers will take effect after the close of business on a date determined by Dynamic, currently expected to be between August 2 and August 16.

Refer to the company’s news release for complete details on how the 31 mutual funds will be merged into other mutual funds managed by Dynamic.

Dynamic also announced the formation of the Dynamic Greater China Fund. This fund will result from the combination of several smaller funds and will seek long-term capital growth through investment in businesses either based in China or that are expected to benefit from economic activity in the area.

Dynamic veteran Chuk Wong will oversee the portfolio. Wong will draw on the expertise of Dr. Marc Faber who will be a special advisor to Dynamic. Faber is a world-renowned strategist with expertise in the region. His recent book “Tomorrow’s Gold” argues for the long-term benefit of investing in China.

As a result of the merger between StrategicNova World Strategic Asset Allocation Fund into StrategicNova Commonwealth World Balanced Fund (to be renamed Commonwealth World Balanced Fund Ltd.) the RSP version of that fund will be modified to reflect the merger.

The portfolio advisor to StrategicNova Canadian Money Market Fund will change to Dynamic on the effective date of the merger involving that fund. In anticipation of the merger, Dynamic Money Market Fund is changing its distribution policy to reinvesting its income on a monthly basis.

Effective on or about July 15, the commission paid by Dynamic to dealers for investments made in Series A units of Dynamic Income Fund and Dynamic Power Bond Fund on a regular deferred sales charge basis will be either 4% or 4.5% on the total monies so invested, at the dealer’s option.

On the effective dates of the mergers involving Dynamic European Value Fund, Dynamic RSP European Value Fund and Dynamic Canadian Precious Metals Fund, Dynamic European Value Fund and Dynamic RSP European Value Fund will change their management fee percentages relating to their Series A units to 2.50% and Dynamic Canadian Precious Metals Fund will change its management fee percentage relating to its Series A units to 2.25% (subject in each case to unitholder approval).