LOGiQ Asset Management Ltd. and Scotia Managed Companies Administration Inc., both based in Toronto, are each terminating one fund from their lineups, according to separate announcements released on Wednesday.

Macquarie Emerging Markets Infrastructure Income Fund, which was found to have an estimated net asset value (NAV) of $9.73 per unit, will be cut from LOQiG’s offerings.

Unitholders can expect to receive their final payment — distributed on a pro rata basis — on April 5,. This follows the fund’s delisting from the Toronto Stock Exchange (TSX) on March 31.

In addition, unitholders will receive a “special taxable income distribution” of 10¢ a unit in cash along with their share of the NAV.

Meanwhile, Scotia plans to terminate the Moenda LatAm Fixed Income Fund, effective on or about June 20. The change comes in anticipation of the maturity date on June 19 set in the forward agreement of the MLF Trust — from which the Moneda fund derives its principal returns.

The fund’s closure is also partly attributed to changes in Canadian tax laws, which would impact the way distributions are characterized, the announcement says.

Currently, distributions paid by the fund qualify as capital gains or returns of capital.

“Following the maturity date, the fund will no longer be able to fulfill its investment objective, which includes providing unitholders with tax-advantaged distributions consisting primarily of returns of capital,” the announcement says.

By terminating the fund, Scotia seeks to head off the potential flight of unitholders once the tax advantages are discontinued.

Unitholders of this fund will get their share of the net assets on a pro rata basis once all liabilities have been accounted for, the announcement says. The amount paid is expected to comprise of a distribution of capital gains by the fund and a return of capital of the balance of the NAV per unit.

Units will continue to trade on the TSX until the end of business day on or about June 20.

More details from Scotia will be disclosed at a later date on the amount to be paid to unitholders.