Arrow Capital to merge funds

Toronto-based Arrow Capital Management Inc. has proposed changes to a fixed income mutual fund, along with a reduced management fee, the company announced Friday.

Arrow’s independent review committee has approved the proposed merger of Exemplar Tactical Corporate Bond Fund into Exemplar Investment Grade Fund, the company says in a release. Arrow expects the merger to take effect on or about March 27.

Exemplar Investment Grade Fund will have a reduced management fee compared to Exemplar Tactical Corporate Bond Fund, Arrow says, and the merger will occur on a tax-deferred basis.

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