Toronto-based EdgePoint Wealth Management will cease sales of its low-load portfolios effective Dec. 3.
The termination of Series B and Series B(N) units of its mutual funds follows diminishing demand for these products as the investment industry moves to a more fee-based environment.
Existing investors in Series B and Series B(N) may continue to purchase units until Dec. 31, after which Series B and Series B(N) will be closed to all new purchases, including automatic investment plans and switches into the series.
Investors with existing holdings in Series B and Series B(N) can remain invested in their positions, including reinvested distributions, in accordance with their low-load schedule.
EdgePoint will be filing an amended and restated simplified prospectus, an amended and restated annual Information form as well as amended Series B and Series B(N) Fund Facts documents.