Dynamic Funds streamlines offerings with a merger set for June 2024, aiming for efficiency
1832 Asset Management L.P., the manager of Dynamic Funds, has proposed a merger of the Dynamic Dividend Income Fund into the Dynamic Strategic Yield Fund, as announced on Newswire Canada.
This move aims to streamline Dynamic Funds' product offerings. Scheduled for June 14, 2024, the merger will occur on a tax-deferred basis and does not necessitate securityholder approval, aligning with the criteria set forth in National Instrument 81-102 Investment Funds for allowed mergers.
The costs associated with this merger will be covered by the Fund Manager. An Independent Review Committee has examined the merger for any potential conflict of interest issues, concluding that the merger would result in a fair and reasonable outcome for both the terminating and continuing funds.
The committee has thus granted its approval for the merger.
Dynamic Funds, a division of Scotia Global Asset Management and managed by 1832 Asset Management L.P., provides various wealth management solutions.
