Toronto-based Northwest & Ethical Investments LP has announced the merger of two of its mutual funds. NEI Northwest Enhanced Yield Equity Corporate Class fund has been terminated and its assets merged with NEI Northwest Canadian Dividend Corporate Class. The continuing fund invests primarily in NEI Northwest Canadian Dividend Fund, which is focused on blue-chip Canadian common stocks with some investments in high-yield preferred stock and interest-bearing securities. Advisor commissions are 0%-5% for front-end sales; 5% for deferred sales; 1% for the low-load option; 2.5% for low-load option 2; or 3.5% for low load option 3. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule; begin at 1.5% in Year 1 and end at zero after Year 2 of the low-load schedule; begin at 3% in Year 1 and end at zero after Year 3 for the low-load schedule 2; or begin at 4.5% in Year 1 and end at zero after Year 3 for the low-load schedule 3. Trailing commissions are 1% for front-end sales; 0.5% for deferred sales; 1% for low-load sales; or 0.5% for the first three years of low-load sales 2 and 3, and 1% thereafter. Management fees are 2% for A-class units and 1% for F-class units. Minimum investment is $500.
(fcollie@investmentexecutive.com).
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