NEI Investments alters mutual fund line-up

NEI Investments is making specific changes to its mutual fund line-up, pending security holder approval.

The proposed fund mergers are below:

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Security holders of the terminating funds will be asked to approve the mergers at a meeting to be held on April 23, 2013.

Effective on March 1, 2013, units of the four terminating portfolios will no longer be available for purchase, except for those security holders who have existing arrangements to purchase units or shares under pre-authorized contribution plans.

Security holders of the terminating portfolios will continue to have the right to redeem their units or shares up to the close of business on the business day immediately before the effective date of the mergers.

At the same meeting, of security holders of the NEI Ethical Select Canadian Balanced Portfolio, NEI Ethical Select Canadian Growth Portfolio and NEI Select Canadian Balanced Corporate Class Portfolio will be asked to approve changes in the fundamental investment objectives of these funds, which aim to eliminate current geographic restrictions.

Full details of the merger transactions and changes to fundamental investment objectives will be contained in a Management Information Circular.

If the mergers are approved by security holders and regulators, the proposed mergers and changes will become effective on May 24, 2013.

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