Standard Life shutters three funds

Montreal-based Standard Life Mutual Funds Ltd. (SLMF) will terminate Standard Life U.S. Mid Cap Fund, Standard Life Global Equity Focus Fund and Standard Life India Equity Focus Fund on or about Nov. 29. Units of the funds are no longer available for new investments, including additional purchases by existing unitholders and through regular investment plans. SLMF is terminating the funds because of small asset size and the limited number of unitholders in the funds. Terminating the funds is consistent with SLMF’s strategy of offering efficient investment solutions that meet the demand of investors and their financial advisors, SLMF says. Existing unitholders of the funds have the option to redeem or switch their investments to any Standard Life mutual fund before the funds’ termination date. SLMF will waive all sales charges and redemption fees in connection with the redemptions of units of the funds that are to be terminated.

(cohara@investmentexecutive.com).