IA Clarington Investments Inc. said Monday that the mergers of its closed-end funds announced in March were completed on June 26.

As a result of the mergers, the Clarington Diversified Income + Growth Fund and Focused 40 Income Fund were terminated and merged into the IA Clarington Tactical Income Fund (formerly the IA Clarington Diversified Income Fund).

“Investors will continue to benefit from a predictable distribution rate with the talents of award-winning manager Ben Cheng of Catapult Financial Management Inc.,” said David Scandiffio, president of IA Clarington, in a release.

IE