Acuity Funds Ltd. plans to terminate the operations of three of its mutual funds, the company said Friday.

The three funds are Acuity Global Equity (Currency Neutral) Fund, Acuity Global High Income (Currency Neutral) Fund, and Acuity Global Dividend (Currency Neutral) Fund

Effective Jan. 12, the funds will cease offering units for purchase and will be terminated on March 12. Affected unitholders will receive 60 days’ prior written notice of these terminations.

Acuity believes that it is in the best interest of affected unitholders to terminate the funds at this time as a result of the small number of unitholders, relatively low assets and the associated costs of maintaining smaller funds.

Prior to the termination of the funds, affected unitholders have the option to switch their investments to other funds managed by Acuity or to redeem their units.

Following the terminations, Acuity will sell all non-cash assets of the funds and discharge each fund’s outstanding liabilities. The remaining assets of each fund will then be distributed by Acuity to unitholders of record as of the termination date.

Separately, Acuity Corporate Class Ltd. announced plans to terminate Acuity Canadian Small Cap Class and Acuity Canadian Equity Class.

Effective January 12, Acuity will cease offering for sale series A and series F shares of the two funds. Thereafter, Acuity will cancel the outstanding shares of the funds and the funds will be terminated on March 12.

Prior to the cancellation of the funds’ series A and series F shares, affected shareholders have the option to switch their investments to other funds managed by Acuity or to redeem their shares.

Following the terminations, Acuity will sell all non-cash assets of the funds and discharge each fund’s outstanding liabilities. The remaining assets of each fund will then be distributed by Acuity to shareholders of record as of the date the series A and series F shares are cancelled.

Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the funds. All costs associated with the termination of the funds will be borne by Acuity.

Toronto-based Acuity and its affiliates currently have assets under management of approximately $6 billion on behalf of mutual funds, pooled funds, closed-end funds and private and institutional clients.

IE