Goodman & Co. Investment Counsel Ltd. has announced plans
to merge 12 funds, citing overlap in their investment objectives. On June 23, shareholders will vote on the following mergers: Dynamic Power American Growth Fund I Ltd., to be rolled into Dynamic Power American Growth Class; Dynamic Focus + American Class, to be rolled into Dynamic Focus + Canadian Class; Dynamic Focus + Global Fund, Dynamic Protected Focus + Global Fund and Commonwealth World Balanced Fund Ltd., all to be merged into Dynamic Focus + Balanced Fund; and Dynamic Canadian High Yield Bond Fund II, to be merged into Dynamic Canadian High Yield Bond Fund I. If the mergers are approved, Goodman & Co. intends to change the name of Dynamic Canadian High Yield Bond Fund I to Dynamic Canadian High Yield Bond Fund. The management fees of the fund’s series A units also will increase from 1.75% to 1.85% (subject to unitholder approval), and dealer commissions will rise to 5% from 4% for units sold on a DSC basis. And, beginning this month, Dynamic Dividend Fund and Dynamic Dividend Value Fund will offer series C units. The funds were originally created as no-load funds sold directly to clients. Management fees on the new units will be slightly higher: 1.85% for Dynamic Dividend and 2.0% for Dynamic
Dividend Value. Front-end commissions are 0% to 5%, with
a 1% trailer. Units sold on a DSC basis have a 5% commission and a 0.5% trailer; if sold on a shortened redemption schedule, commissions are 3%, with a 1% trailer.
Dynamic merges funds, introduces C units
- By: Lara Hertel
- June 1, 2005 June 1, 2019
- 13:26