The terminating funds affected by the cancelled merger will now have their fees reduced to stay consistent with Dynamic’s overall pricing strategy
Invesco Emerging Markets Debt Fund to merge into Invesco Global Bond Fund
Three funds will be merged into Manulife Growth Portfolio sometime around June 2
NEI Northwest Tactical Yield Fund will absorb NEI Northwest Macro Canadian Asset Allocation Fund and NEI Northwest Macro Canadian Asset Allocation Corporate Class.
The funds share similar objectives and will retain the same manager
Securityholders will vote on the proposed mergers on or about June 9 and, if they approve, the mergers will take place on or about June 30
The decision came as a result of a new provision in this year’s federal budget relating to mutual fund mergers
The firm will no longer go through with a planned merger and announced instead new mergers for each affected fund into its corresponding trust
The firm is introducing four asset-allocation portfolios and plans to fold 12 of its existing funds into the new portfolios
The proposed rules will also apply to segregated funds