If you need more information on how you can implement a low-cost ETF portfolio, send us an email , and we will be glad to walk you through the steps. Today’s Trading 5-Day Low 9. The net asset value for each class or series of the Funds, as applicable, is calculated on a daily basis in accordance with the Funds’ valuation policy and as described in the applicable Offering Documents. Other than circumstances in which the securities regulatory authority of a Jurisdiction has expressly exempted a Fund therefrom, each of the Funds follows the standard investment restrictions and practices established under NI In respect of the Grandfathering Mergers, the Series I Mergers and the Series R and S Mergers, because a current simplified prospectus and fund facts document are not available for the applicable series of the Continuing Funds, securityholders of each of the corresponding series of the Terminating Funds were sent fund facts relating to series A securities of the applicable Continuing Fund, or, where appropriate, another series of securities of the applicable Continuing Fund. Past performance is no guarantee of future results. Price History View the historical prices.
If the Proposed Reorganizations are not approved, the Terminating Fund will continue to be offered for distribution. ModernAdvisor Blog Guiding you along your financial journey. Site navigation Your reading history. These costs consist mainly of brokerage charges associated with the trades that occur both before and after the date of the proposed Mergers and legal, proxy solicitation, printing, mailing and regulatory fees. Securityholders of the Terminating Funds will be asked to approve the Mergers at special meetings to be held on or about July 31, The Meeting Materials describe all of the relevant facts concerning the Proposed Reorganizations relevant to each securityholder, including the differences between investment objectives, strategies and fee structures of the Terminating Funds and the Continuing Funds, the IRC’s recommendations of the Proposed Reorganization, and income tax considerations so that securityholders of the Terminating Funds may consider this information before voting on the Proposed Reorganization. The Principal Regulator is satisfied that the decision meets the test set out in the Legislation for the Principal Regulator to make the decision.
The V are being proposed balancex reflect the Filer’s desire to deploy its portfolio managers as efficiently as possible, in order to maximize return potential fun fund investors. In order to effect the Mergers relating to these series of the Terminating Funds, securities of the applicable series of the Continuing Funds will be distributed to securityholders of the Terminating Funds in reliance on the prospectus exemption contained in section 2.
Securityholders of each of the Terminating Funds will be asked to approve the Proposed Reorganization associated with that Terminating Fund at a special meeting of securityholders scheduled to be held on or about June 22, Securityholders in the Terminating Funds will continue to have the right to redeem their units or exchange their units for securities of any other mutual fund of the Filer at any time up to the close of business on the business day before the Effective Date. Certain securities of certain Funds are cc only on an exempt distribution basis or are no longer available for purchase; for example, Series R and S securities of the Funds are offered only on an exempt distribution basis and Series I securities of certain Funds are no longer qualified for distribution under a prospectus.
So what should you do as an investor? If the Proposed Reorganizations are not approved, the Terminating Fund will continue to be offered for distribution. If the Proposed Reorganizations are approved, the reorganizations will be implemented after the close of business on the Effective Date. On April 18,the IRC reviewed balancdd potential conflict of interest matters related to the proposed Mergers and provided its positive recommendation for each of the Mergers, after determining that each proposed Merger, if cunrill, would achieve a fair and reasonable result for each applicable Fund.
In accordance with National Instrument Continuous Disclosurea press release describing the Proposed Reorganizations was issued and the press release, material change report and amendments to the applicable simplified prospectus and annual information form, as well as revised fund facts of the Terminating Funds, which give notice of the Proposed Reorganizations, were filed on SEDAR on April 2, for each of Mackenzie Funds, Quadrus Group of Funds and Laurentian Group of Funds.
Following the implementation of the Proposed Reorganizations, the Continuing Funds will continue as publicly offered open-ended mutual funds offering securities in the Jurisdictions, or, in the case of Corporate Class Funds, will continue as classes of the Corporation. He is a problem-solver and is passionate about bringing affordable and unbiased investment management to all Canadians. Stay away from expensive mutual funds. Terms defined in National Instrument Definitions and MI have the same meaning if used in this decision, unless otherwise defined.
Fundamentals information provided by Fundata Canada Inc. Pursuant to the Proposed Reorganizations, securityholders of each of the Terminating Funds would become securityholders of the applicable Continuing Fund, as follows each a ” Merger ” and collectively, the ” Mergers “:.
For each smackdown, we construct a low-cost, Modern ETF Portfolio that closely matches the historical average asset allocation of the incumbent mutual fund. There are no charges payable by securityholders of the Terminating Funds who acquire securities of the corresponding Continuing Funds as a result of the Proposed Reorganization.
Modern ETF Portfolio vs. Market Update for April Jun 5, Article text size A. The Meeting Materials also describe the various ways in which securityholders can obtain a copy of the simplified prospectus and annual information form of the Continuing Funds, as well as the most recent interim and annual financial statements and management reports of fund performance for the Continuing Funds, at no cost.
Emerging Growth Class — Series R. As a result, the portfolios of some of the Terminating Corporate Class Funds may temporarily hold cash, money market instruments or investments that are not consistent with their investment objectives, and may not be fully invested in accordance with their investment objectives for a brief period of time prior to the Merger being effected.
This makes building an ETF portfolio with the same asset allocation somewhat challenging. National Policy Process for Exemptive Relief Applications in Multiple Jurisdictions — approval of investment fund mergers — approval required because mergers do not meet the criteria for pre-approved reorganizations and transfers in National Instrument Investment Funds — certain terminating funds and continuing funds do not have substantially similar fundamental investment objectives — certain mergers will not be a “qualifying exchange” or a tax-deferred transaction under the Income Tax Act — mergers to otherwise comply with pre-approval criteria, including securityholder vote, IRC approval — securityholders provided with timely and adequate disclosure regarding the mergers.
The remaining Funds are unit trusts collectively, the ” Trust Funds “. Registrant Forms and Documents. There are no charges payable by investors in the Terminating Funds who acquire securities of the corresponding Continuing Funds as a result of the Mergers. Price Quote as of. Except as noted above, the Proposed Reorganizations will otherwise comply with all other criteria for pre-approved reorganizations and transfers set out in section 5.
The Taxable Mergers will be effected on a taxable basis, which the Manager has determined will be in the overall best interests of the investors of the Terminating Funds and the Continuing Funds given the investment mandates and applicable portfolio management teams of the Continuing Funds.
The principal regulator in the Jurisdiction has received an application from the Manager on behalf of the Terminating Funds for a decision under the securities legislation of the Jurisdiction of the principal regulator the Legislation approving the mergers the Mergersas defined below of the Terminating Funds into the Continuing Funds defined below pursuant to paragraph 5.
Securities Law & Instruments
Neither the Manager nor the Funds are in default under the applicable securities legislation of Ontario or the Other Jurisdictions. View Chart Takes you to an interactive chart which cannot interact. Past performance is no guarantee of future results. The Manager presented the segies conflict of interest matters related to the proposed Mergers to the IRC for a recommendation. The Mergers will also allow the Filer to make its product sefies smaller and simpler, and therefore easier for investors to navigate.
Start my risk-free trial. The Manager will pay for the baoanced of the proposed Mergers. If the necessary securityholder approval is obtained, each Terminating Fund will cansdian into the applicable Continuing Fund on or about the close of business on August 2, and the Continuing Funds will continue as publicly offered open-end mutual funds.
Annikka on Leaving Canada: ModernAdvisor Blog Guiding you along your financial journey. Securityholders may change or cancel any systematic plan at any time and securityholders of the Terminating Funds who wish to establish one or more systematic plans in respect of their holdings in the Continuing Fund may do so following the implementation of the Proposed Reorganizations.
Canadian Equity Balanced | Canadian Investment Funds Standards Committee(CIFSC)
To find the answer, we will put some of the largest and widely held Canadian mutual funds in the ring with a low-cost Modern Potfolio of ETFs and let them battle it out until one wins. No sales charges will be charged by the Filer to investors or to the Terminating Fund or Continuing Fund in connection with the acquisition by a Continuing Fund of the investment portfolio of its applicable Terminating Fund.
Securityholders that redeem securities may be subject to redemption charges. Securityholders of the Terminating Funds will be asked to approve the Mergers at special meetings to be held on or about July 31, Reporting Issuer and Issuer Forms. This is the case for many mutual funds. The following additional terms shall have the following meanings:.