Vancouver-based Connor, Clark & Lunn Private Capital Ltd. announced on Monday that it plans to terminate CC&L Balanced Growth Portfolio sometime around June 16.

The fund, which had failed to “achieve economies of scale for the ordinary operating expenses,” is now closed off to additional investments, according to the company’s statement.

Unitholders have the option of either redeeming the portfolio units before the fund’s termination or switching to another investment.

After the termination date, any outstanding unitholders will receive a remittance in cash equivalent to the remaining net assets held.