Montreal-based Fiera Capital Corp. is terminating the imaxx Canadian Dividend Plus Fund, effective Jan. 13, 2021.
“The decision to terminate the fund is due to a low number of unitholders and the costs associated with maintaining a small fund,” the firm said in an emailed statement.
Effective Oct. 14, the fund was closed to new purchases, including through existing pre-authorized contribution plans. As of close on Oct. 14, “the fund’s assets under management stood at about $1.5 million,” the statement said.
Investors can “redeem or switch their units of the fund up to the close of business on the termination date,” according to a release.
Fiera noted in the release that the fund may not follow its stated investment objectives in the coming months and that the firm will “bear all the expenses” in connection with closing the product as well as waive any short-term fees related to unit redemptions or switches.