LifePoints 2010 Portfolio, LifePoints 2020 Portfolio and LifePoints 2030 Portfolio will be terminated on November 2, Russell Investments Canada Ltd. announced Wednesday.

Effective immediately, units of the funds will no longer be available for purchase by the public.

The decision to terminate the funds was driven by a relatively low number of unitholders and assets, and the costs associated with maintaining smaller funds, Russell Investments says.

Prior to the termination, unitholders of the funds will have the option to switch their investment to any of the other Russell LifePoints Portfolios or to redeem their units.

Russell says it will liquidate the holdings of the terminating funds at fair market value and distribute the net assets to unitholders. Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the Funds.

All costs strictly associated with the termination of the funds will be borne by Russell Investments, the company says.

IE