Altamira Investment Services Inc. says its unitholders have approved six proposed fund mergers, which will take effect after the close of business on September 7.

“The mergers will provide greater transparency among Altamira’s fund mandates while continuing to offer investors a broad range of investment choice. The streamlined family of funds makes it easier for investors to work with Altamira advisors to build and manage portfolios tailored to their personal investment goals,” says Altamira;s chief operating officer, James Whitman.

Altamira Global 20 Fund and Altamira Global Financial Services Fund merge into Altamira Global Value Fund.

Altamira e-business Fund merges into Altamira Science and Technology Fund.

Altamira Biotechnology Fund merges into Altamira Health Sciences Fund.

Altamira Precision Dow 30 Index Fund merges into Altamira Precision U.S. RSP Index Fund.

Altamira Precision European RSP Index Fund merges into Altamira Precision European Index Fund.

As a result of the mergers, Altamira Precision European Index Fund will decrease its management fee. Previous to the merger, Altamira Precision European Index Fund paid a maximum management fee of 0.50% plus operating expenses of up to 0.70% (plus taxes). In order to accommodate the merger of Altamira Precision European RSP Index Fund into Altamira Precision European Index Fund, Altamira will reduce the management fee for Altamira Precision European Index Fund to 0.45% and cap its operating expenses at 0.50% (excluding taxes).

In addition, Altamira Precision International RSP Index Fund will be renamed the Altamira Precision International Currency Neutral Index Fund. Altamira Precision U.S. RSP Index Fund will be renamed the Altamira Precision U.S. Currency Neutral Index Fund.

Both name changes are effective September 10.