Toronto-based Aegon Fund Management Inc (AFM) Thursday announced changes to its fund offering that involve winding down its imaxx TOP Portfolios on June 21, to streamline and strengthen its lineup of funds.
“AFM regularly reviews the investment offerings in our lineup. As a result of our most recent review, we will be winding down all of our imaxx TOP Portfolios due to the high cost of maintaining these portfolios given their relatively small asset size and number of unitholders,” said Doug Brooks, chairman, president and CEO, AFM.
The company will cease offering units for purchase of these imaxx TOP Portfolios after the close of business March 21.
Existing pre-authorized chequing plans, dollar-cost-averaging plans and/or dividend reinvestment plans will continue until close of business on April 30.
Investors can redeem their units or switch out of the portfolio to one of the six remaining funds on or prior to June 14.
Non-registered accounts will have holdings redeemed at fair market value as at June 21.
Remaining unitholders who hold the portfolio in a registered account will have their holdings switched, on a dollar-for-dollar basis, as follows:
|
Terminating Portfolio |
Fund switched to |
|
imaxx TOP Conservative Portfolio |
imaxx Money Market Fund – Class A |
|
imaxx TOP Balanced Portfolio |
imaxx Money Market Fund – Class A |
|
imaxx TOP Growth Portfolio |
imaxx Money Market Fund – Class A |
|
imaxx TOP Aggressive Growth Portfolio |
imaxx Money Market Fund – Class A |
Following the termination date, any pre-existing systematic withdrawal plan on a terminated Portfolio will be re-established on the fund switched to, unless unitholders advise otherwise.
AFM will waive any deferred sales charge on redemptions.