Russell proposes mandate changes

Russell Investments Canada Limited today proposed changes to the investment objectives of two of its funds: Russell Smaller Companies Pool and Russell Smaller Companies Class.

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Russell is seeking to approve a change to allow each of the funds to provide long-term capital appreciation principally through exposure to both global and Canadian equity securities of issuers with a smaller market capitalization.

Russell also proposed changing the names of the Funds to Russell Global Smaller Companies Pool and Russell Global Smaller Companies Class, which reflects the change in investment objectives.

If the change is approved by investors, the funds will have the ability to invest primarily in shares of foreign companies, using the following styles: market-oriented, value, growth and small capitalization.

Full details about the proposed investment objective changes will be outlined in a Management Information Circular and Proxy to be mailed in May to investors of record. A special meeting of investors will be convened on or about June 23, 2015 to approve the changes. If the above changes are approved, they will take effect on or about June 30, 2015.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.