Toronto-based fund company Ark Fund Management Ltd. has agreed to take over management of the frontierAlt Opportunistic Global Fund from Toronto-based frontierAlt Funds Management Ltd., the companies announced on Wednesday.

The agreement, which is subject to unitholder and regulatory approval, will result in the name of the fund changing to Ark NorthRoad Global Fund. In addition, the portfolio advisor of the Fund would be changed to NorthRoad Capital Management LLC, a New York-based investment firm that manages global equity portfolios.

Unitholders will vote on the proposed change at a special meeting on Nov. 25, following the distribution of a management information circular and form of proxy.

If approved, the proposed merger is expected to become effective on Dec. 1.

IE