Toronto-based IA Clarington Investments Inc. Friday announced a proposal to merge eight mutual fund trusts into their corresponding corporate class versions.

“Investors in non-registered accounts will benefit from the ability to switch within the corporate class without triggering a taxable disposition and the mergers also enable us to streamline our line-up and reduce the duplication of funds,” said IA Clarington President David Scandiffio, in a release.

A special meeting of investors will be held on or about Jan. 10, 2014 to consider the proposal, which does not involve changing any investment objectives or strategies of the funds.

IA Clarington says it intends to lower the management fees and MERs of the continuing funds to reflect the enhanced cost efficiency within its line-up.

The proposed changes are subject to the applicable funds obtaining all necessary approvals, including investor approval for the continuing funds.

Terminating Fund

Continuing Corporate Class Fund

Distinction Prudent Portfolio

Distinction Prudent Class

Distinction Conservative Portfolio

Distinction Conservative Class

Distinction Balanced Portfolio

Distinction Balanced Class

Distinction Growth Portfolio

Distinction Growth Class

Distinction Bold Portfolio

Distinction Bold Class

IA Clarington Canadian Leaders Fund

IA Clarington Canadian Leaders Class

IA Clarington Canadian Growth Fund

IA Clarington Canadian Growth Class

IA Clarington Dividend Growth Fund

IA Clarington Dividend Growth Class

IA Clarington Investments Inc., which has $13.8 billion in assets under management, is a subsidiary of Industrial Alliance Insurance and Financial Services Inc. (TSX:IAG).