Canoe Financial shuts down two funds

Calgary-based Canoe Financial LP will terminate the A-class units and F-class units of both Canoe Canadian Money Market Class Fund and Canoe Capital Appreciation Class Fund on Sept. 15. Due to the small size of these funds, Canoe Financial says, it is in the best interests of unitholders to close the funds. Units of both funds are no longer available for purchase, including purchases through existing regular investment plans. Prior to the closure of the funds, existing unitholders continue to have the option to switch their investments into any of Canoe Financial’s other mutual funds or to redeem their units. Upon termination of the funds, existing unitholders will be exempt from all sales charges and redemption fees.

(cohara@investmentexecutive.com).