Toronto-based Front Street Mutual Funds Ltd., and its manager, Front Street Capital 2004, Tuesday announced that a special meeting of shareholders will be held on May 14, to consider the proposed mergers of several corporate class funds.
The affected funds are each a class of Front Street Mutual Funds Ltd.
Shareholders of Series A, B, F and X shares of each of Front Street Tactical Equity Class, Front Street Growth and Income Class and Front Street Value Class, and shareholders of Series A, B, F, X and L shares of Front Street Resource Class, will be asked to consider the proposed mergers as follows:
|
Terminating Fund |
Continuing Fund |
|
Front Street Tactical Equity Class |
Front Street North American Growth and Income Class |
|
Front Street Value Class |
Front Street Resource Growth and Income Class |
Front Street Growth and Income Class will renamed Front Street North American Growth and Income Class, and Front Street Resource Class will be renamed Front Street Resource Growth and Income Class.
The proposed mergers will be effected by way of capital reorganization. In connection with the reorganizations, shareholders of a terminating fund will receive mutual fund shares of the applicable series of the corresponding continuing fund.
The special meeting of shareholders of Front Street Resource Class will also consider a change to the fundamental investment objective of that fund.
Assuming approvals are obtained, the reorganizations are expected to be completed May 16.