Fiera terminating investment funds

By Staff | August 28, 2019 | Last updated on August 28, 2019
1 min read
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Montreal-based Fiera Capital Corp. has announced it is terminating three investment funds on or about Sept. 26, 2019.

The firm said on Tuesday that the North American Preferred Share Fund, the Investment Grade Infrastructure Bond Fund and the Canadian Convertibles Plus Fund will be delisted from the Toronto Stock Exchange on or about Sept. 19, 2019.

According to each fund’s declaration of trust, Fiera may terminate the funds without unitholder approval “if the manager believes it is no longer economically practical to continue the fund or that it would be in the best interests of the fund to do so.”

Fiera said terminating the funds was in the best interest of unitholders, given the current size of each fund and its relative expenses.

Once the funds are terminated and following the satisfaction of, or provisions for, the liabilities of each fund, the funds’ net assets will be distributed to unitholders on a pro rata basis, Fiera said.

The Investment Grade Infrastructure Bond Fund is being terminated in advance of its annual redemption date. Consequently, Fiera said, there will be no annual redemption of the fund in 2019, as all units will be redeemed on the termination date. staff


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