AEGON Fund Management has called special meetings of unitholders of imaxx TOP RSP Growth Portfolio and imaxx TOP RSP Balanced Portfolio to consider a fund merger for each fund.

The meetings are scheduled to be held in Toronto on March 17.

Unitholders of imaxx TOP RSP Growth Fund will be asked to consider a proposal to merge the fund into imaxx TOP Growth Portfolio. Unitholders of imaxx TOP RSP Balanced Portfolio will be asked to consider a proposal to merge the fund into imaxx TOP Balanced Portfolio. Both mergers are subject to unitholder approval.

“With the changes introduced last year to eliminate foreign content limits inside registered investment plans, these funds no longer serve any practical purpose for investors”, said Geraldo Ferreira, vp of investment products for AEGON Canada. “Merging them into the non- RSP versions of the respective funds should eliminate duplication and costs and improve efficiencies”.

Both the RSP and the non-RSP funds hold identical underlying funds, investment objectives, and MERs. If approved, AEGON will proceed with the mergers on a tax-free rollover basis so that unitholders will incur no tax consequence as a result of the merger. The dollar value of unitholders’ investments will also remain unchanged.

Subject to unitholder approval, both mergers are scheduled to occur on March 24.