Toronto-based AGF Investments Inc. Monday announced the termination of six funds on November 1.
Effective August 26, securities of the following six funds indicated will no longer be available for purchase:
> AGF Dollar Cost Averaging Fund;
> AGF Global Real Estate Equity Fund;
> AGF Global Real Estate Equity Class;
> Acuity Pooled Growth and Income Fund;
> Acuity Pooled Social Values Canadian Equity Fund; and
> Acuity Pooled EAFE Equity Fund.
The decision to terminate these funds was driven by a combination of the small number of securityholders, relatively low assets and the costs associated with maintaining such small funds, AGF says.
Affected investors will be advised of their options by letter prior to the termination. Securityholders will not be required to pay any redemption fees or sales charges.
In addition to the terminations, two funds will also be renamed in order to better reflect their characteristics and holdings. AGF Aggressive U.S. Growth Fund will be renamed AGF U.S. Small-Mid Cap Fund and AGF Aggressive Global Stock Fund will be renamed AGF Global Select Fund. These changes will also be effective November 1.
AGF Investments is a unit of AGF Management Ltd. (TSX:AGF.B) is one of an independent investment management firms with offices across Canada and subsidiaries around the world. With approximately $37 billion in total assets under management, AGF serves more than one million investors.