Ethical Funds Inc. announced Tuesday that the Ethical RSP International Equity Fund and Ethical RSP European Equity Fund will cease distribution of their units on April 25 and will terminate on June 27.

Upon termination, the units of any unitholders remaining in the Funds will be redeemed for their net asset value. Unitholders will not be required to pay redemption or switch fees as a consequence of the termination of the funds. As well, all expenses associated with the termination of the funds will be borne by Ethical Funds Inc.

Unitholders may redeem or switch their holdings in the funds until the termination date.

Ethical says the decision to terminate the funds, which were launched in October 2002, results from low levels of investor interest and weaker than anticipated growth in the assets.