Manulife Investments and RBC Global Asset Management (RBC GAM Inc.) announced on Monday that they will be terminating a slew of funds in the next few months.

Manulife Investments plans to terminate several of its funds in two phases in a bid to simplify its mutual fund platform.

The first funds to be terminated, which will take effect on or about May 5, include: Manulife Canadian Growth Stock Fund, Manulife Global Real Estate Unconstrained Class, Manulife Small Cap Value Fund and Manulife U.S. Diversified Growth Fund.

The second set of funds, which will be terminated on or about June 2, are: Manulife Canadian Equity Index Fund, Manulife Canadian Fixed Income Private Trust, Manulife International Equity Index Fund and Manulife U.S. Equity Index Fund.

Meanwhile, RBCGAM will shut down the BonaVista Global Balanced Fund and the BonaVista Canadian Equity Value Fund on May 26 because of their small size and to get rid of duplication.

Unitholders of these funds have the option of switching or redeeming their holdings until market closure on May 26. For those with registered plans, redemption proceeds will remain in place, unless unitholders issue other instructions.