Investment firm announces approval for fund mergers

Investment firm announces approval for fund mergers

Investment firm announces approval for fund mergers

Following a special meeting with securityholders, Bridgehouse Asset Managers has received approval to proceed with three previously proposed fund mergers.


With the approval of securityholders, the following corporate class funds are to be terminated and merged into their corresponding trust funds.
 
Terminating Fund
Continuing Fund
Brandes Global Equity Class
Brandes Global Equity Fund
Sionna Canadian Equity Private Pool
Sionna Canadian Equity Fund
Greystone Canadian Equity Income & Growth Class
Greystone Canadian Equity Income & Growth Fund

The proposed changes were announced after an evaluation of updates noted in the 2016 Federal Budget, which eliminated the deferral of capital gains tax for investors switching between different classes of shares within a mutual fund.

Each merger will take effect on or about Feb. 24, subject to necessary regulatory approvals. Those holding securities of each series of the terminating funds will receive securities of the equivalent continuing fund, determined series-for-series and dollar-for-dollar. Securityholders of the terminating funds are also allowed to either redeem their units or swap them for units of other funds until close of business on the day immediately before the mergers’ effective date.

 

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