Canoe Financial simplifies its global equity lineup
CALGARY, Alberta, April 22, 2020 -- Canoe Financial is streamlining its global equity product offering with the proposed merger of Canoe Global All Cap Portfolio Class (the “Terminating Fund”) into Canoe Global Equity Fund on or about July 3, 2020. The merger is subject to the receipt of all required regulatory and securityholder approvals. Effective immediately, Series O of the Terminating Fund will no longer be available for purchase.
Approval from securityholders of the Terminating Fund will be sought at special meetings to be held on or about June 15, 2020. Details about the merger will be contained in meeting materials to be mailed to securityholders of record as of May 5, 2020.
If the proposed merger is approved, securityholders of each series of the Terminating Fund will receive securities of a series of the Continuing Fund that has a management fee which is the same as, or lower than, the management fee on their existing series, determined on a dollar-for-dollar basis. If the proposed merger is approved, purchases, switches and redemptions of securities of the Terminating Fund will be suspended on the business day immediately prior to the merger date (other than purchases of Series O, which are suspended effective today). The Terminating Fund will be wound up as soon as possible following the merger.
About Canoe Financial
Canoe is one of Canada’s fastest growing independent mutual fund companies managing over $5.8 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Founded in 2008, Canoe Financial LP is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe has significant national presence across Canada, including offices in Calgary, Toronto and Montreal.