Following special meetings Tuesday, AGF Management Ltd. (TSX:AGF.B) announced that several changes to its product line-up have been approved by securityholders.
Securityholders approved the mergers of the following funds:
- AGF Canadian Stock Class into AGF Canada Class
- AGF Canadian Value Fund into AGF Canadian Stock Fund
- AGF Global Resources Fund into Acuity Natural Resource Fund
- Acuity Canadian Balanced Fund into Acuity Conservative Asset Allocation Fund
- Alpha Social Values Portfolio into Acuity Social Values Balanced Fund
- Acuity Social Values Global Equity Fund into Acuity Social Values Canadian Equity Fund
Also approved were changes to the investment objective for the following funds:
- Acuity Social Values Canadian Equity Fund
- AGF Canadian Growth Equity Class
- AGF Canadian Growth Equity Fund
- AGF Canadian High Yield Bond Fund
AGF also announced portfolio manager changes to three funds.
Highstreet Asset Management Inc. will replace Acuity Investment Management Inc. as the portfolio manager of Acuity EAFE Equity Fund, which will be renamed AGF EAFE Equity Fund.
AGF Investments Inc. will replace Acuity Investment Management Inc. as the portfolio manager of Acuity Natural Resource Fund, which will be renamed AGF Global Resources Fund.
Cypress Capital Management Ltd. will replace Acuity Investment Management Inc. as the portfolio manager of Acuity Growth & Income Fund, which will be renamed AGF Tactical Income Fund.
The mergers will, subject to regulatory approval, are expected take effect on May 25. The investment objective changes and portfolio manager changes will take effect on April 19.