AIP Asset Management to terminate 2 funds

November 12, 2018 | Last updated on November 12, 2018
1 min read
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AIP Asset Management Inc. plans to terminate two funds.

AIP Global Macro Class and AIP Canadian Enhanced Income Class, each a corporate class of AIP Mutual Funds Corporation, will be wound up and terminated on or about Jan. 11, 2019, says a release.

Terminations are subject to certain steps, including shareholder approval at a special meeting on Dec. 27, 2018. Shares of the funds are no longer available for new purchases, and impacted investors are encouraged to contact their advisors to discuss financial and tax implications. The firm won’t require investors to pay redemption fees or sales charges upon redemption of their investments or the funds’ termination.

AIP is terminating the funds due to the “changing mutual funds environment making small funds more difficult to operate,” says the release.

The release adds that AIP will continue to run its hedge fund, AIP Global Macro Fund L.P., and continue to grow its separately managed accounts platform business across Canada.