Unitholders of Russell Smaller Companies Pool and Russell Smaller Companies Class funds approved proposed changes to these funds’ investment objectives at a special meeting this week, Toronto-based Russell Investments Canada Ltd. announced on Wednesday.
Russell Investments had earlier asked unitholders to approve a change allowing the funds to invest primarily in foreign smaller companies as well as Canadian smaller companies.
The funds now have the ability to participate in more foreign investment opportunities and increase global diversification, Russell Investments said in a statement.
The investment objective changes are effective June 30, at which time the names of the funds will also change to Russell Global Smaller Companies Pool and Russell Global Smaller Companies Class.