Unitholders of Educators North American Diversified Fund have approved a change to the fundamental investment objective of the fund, Toronto-based Educators Financial Group Inc. (EFG) announced on Monday.
The change converts the fund from a mutual fund investing in Canada and United States equity securities, to a fund investing primarily in U.S. equity securities, the announcement from EFG says.
In conjunction with this change, the name of the fund will now be Educators U.S. Equity Fund.
In addition, Toronto-based Beutel, Goodman & Co. Ltd. has been appointed as the fund’s portfolio advisor.
EFG has been offering free financial planning and a wide selection of investing and lending products and services exclusively to teachers, educational workers, and their families since 1975.