Toronto-based First Asset Investment Management Inc. announced on Friday that it’s merging two funds into two of its continuing mutual funds.

First Asset Canadian Convertible Debenture Fund First Asset Canadian Convertible Debenture Fund will be folded into the First Asset Canadian Convertible Bond Fund while First Asset Canadian Dividend Opportunity Fund II will be merged into First Asset Canadian Dividend Opportunity Fund.

“Unitholders will not be required to take any action in connection with the mergers,” according to First Asset’s announcement. “After the mergers, former unitholders of each fund will become unitholders of the applicable continuing mutual fund.”

The mergers will take effect at the end of business day on March 10.