ScotiaFunds mergers approved, fee reduction announced
Scotia Global Asset Management has announced securityholders have approved the merger of certain ScotiaFunds during special meetings held on August 22.
The fund mergers are set to take effect around November 22. The following mutual funds will be merged:
|
Terminating Funds |
|
Continuing Funds |
|---|---|---|
|
Scotia Canadian Bond Fund |
to merge into |
Scotia Canadian Income Fund |
|
Scotia Conservative Fixed Income Portfolio |
to merge into |
Scotia Canadian Income Fund |
|
Scotia European Equity Fund |
to merge into |
Scotia International Equity Fund |
|
Scotia International Equity Blend Class |
to merge into |
Scotia International Equity Fund |
The Manager will cover all costs and expenses associated with the mergers. On the merger date, each Terminating Fund will distribute net income, dividends, and net realized capital gains for its taxation year, ensuring no income tax liability under Part I of the Income Tax Act (Canada).
Additional information about the mergers was included in the meeting materials sent to Terminating Fund securityholders as of July 8. These documents, along with the notice-and-access document and management information circular, are available on SEDAR+ and the ScotiaFunds website.
In conjunction with the mergers, the Manager will reduce the fixed administration fee on Series A and Series F of the Scotia Canadian Income Fund from 0.07 percent to 0.06 percent, effective on the merger implementation date.
