AIM Trimark Investments today began the wind-up process of its RSP-eligible clone funds in response to the elimination of the foreign property rule, which has received royal assent.

“The opportunity to invest anywhere in the world, free from foreign content restrictions and at a reduced cost is great news for investors,” says Patrick Farmer, AIM Trimark’s chief investment officer and executive vp.

AIM Trimark has begun the wind-up process by terminating forward contracts used by the clone funds. Over the course of next week, the cost of these contracts to unitholders will be eliminated and the proceeds formerly used to purchase forward contracts will then be redirected to purchase units/shares of the corresponding underlying fund.

As the final step in the process, effective at the end of business on August 12, AIM Trimark will wind-up the RSP-eligible clone funds and investors in these funds will become securityholders of the corresponding underlying funds.

“No action will be required by investors and their advisors; we will take care of all the details to make the process easy and seamless,” says AIM Trimark’s president and CEO, Phil Taylor.

The following RSP-eligible clone funds are affected:

  • AIM Trimark RSP Core American Equity Fund;
  • AIM Trimark RSP Core Global Equity Fund;
  • Trimark RSP Global High Yield Bond Fund;
  • Trimark RSP Global Balanced Fund;
  • Trimark RSP U.S. Companies Fund;
  • AIM RSP American Growth Fund;
  • Trimark RSP Fund;
  • AIM RSP Global Technology Fund;
  • AIM RSP Global Health Sciences Fund;
  • Trimark RSP Select Growth Fund;
  • Trimark RSP Global Endeavour Fund;
  • Trimark RSP International Companies Fund;
  • Trimark RSP Europlus Fund;
  • AIM RSP European Growth Fund;
  • Trimark RSP Discovery Fund;
  • AIM RSP International Growth Fund;
  • AIM RSP Global Theme Fund;
  • AIM RSP Indo-Pacific Fund

Purchases and switches into the RSP-eligible clone funds will be permitted until 16:00 ET on August 5. Redemptions and switches out of the RSP-eligible clone funds will be permitted until 16:00 ET on August 12.