Russell Investments Canada Ltd. Monday proposed changes to the investment objectives of two of its funds: Russell Enhanced Canadian Growth and Income Portfolio and Russell Enhanced Canadian Growth and Income Class Portfolio.
Russell is seeking to approve a change to allow each of the funds to include primarily foreign as well as Canadian equities in their strategic allocation.
Russell also proposes changing the names of the funds to Russell Global Strategic Income Portfolio and Russell Global Strategic Income Class Portfolio, which reflects the change in investment objectives.
If this change is approved by investors, the funds will have the ability to adopt a global approach to participate in more foreign investment opportunities and increase overall diversification.
A special meeting of investors will be convened on Jan. 13, 2014 to approve the changes. If the above changes are approved, they will take effect on Jan. 14, 2014.