Fund closed to new purchases
CC&L Balanced Growth Portfolio failed to “achieve economies of scale for the ordinary operating expenses” and is now closed off to additional investments
The firm is also plans to cap or eliminate the fees and expenses associated with certain series in an effort to simplify its product offering
Macquarie Emerging Markets Infrastructure Income Fund will be cut from LOQiG’s offerings while Scotia plans to terminate the Moenda LatAm Fixed Income Fund
Strategic Income Allocation Fund will be terminated sometime after March 20
Manulife plans to terminate several funds in two phases to simplify its platform while RBC will shut down two funds due to their small size and to get rid of duplication
LOGiQ is looking to sell all non-cash assets of the fund and discharge liabilities; remaining assets will be distributed among unitholders as soon as it’s practical to do so
Investors in the terminating funds will receive securities of the appropriate continuing funds on a series-for-series and dollar-for-dollar basis
Unitholder approvals for the termination of Excel Billionaire Leaders Fund and Excel Latin America Fund will be sought at special meetings to be held on or about March 24
Unitholders will receive $9.88 a unit on or before Jan. 23, which includes an allocation of approximately $1.80 of taxable capital gains from the fund