SEI Investments Canada Company intends to terminate Enhanced Global Bond Fund and International Synthetic Fund on January 18, following written notice to existing unitholders, the company said Friday.

Effective immediately, units of the funds are no longer be available for purchase.

“The decision to recommend terminating the funds was driven by low asset balances, which make it difficult to efficiently manage the funds in accordance with their intended investment strategies,” the company said in a release.

Termination of the funds is contingent upon obtaining majority approval from unitholders, the company added.

Existing unitholders of the funds have the option to redeem or switch their investments on any business day prior to the termination date.

If applicable, a special distribution of income and/or capital gains will be paid to all unitholders of record on November 19. Additionally, if required, a final distribution will occur on or before January 18.

SEI Canada is a subsidiary of SEI (Nasdaq: SEIC), a global asset management provider.

IE