BMO Nesbitt Burns, the manager of BMO Nesbitt Burns Canadian Stock Selection Fund, BMO Nesbitt Burns U.S. Stock Selection Fund, BMO Nesbitt Burns Bond Fund, BMO Nesbitt Burns Balanced Fund, BMO Nesbitt Burns International Equity Fund, BMO Nesbitt Burns Balanced Portfolio Fund, BMO Nesbitt Burns Growth Portfolio Fund and BMO Nesbitt Burns Maximum Growth Portfolio Fund, has made changes to the process to be followed in connection with certain future mergers and other reorganizations involving a Fund.
The Manager will be amending the prospectus related to the Funds to reflect these changes. Pursuant to the changes, in accordance with Canadian securities legislation, unit holders of a Fund will not be asked to approve the transaction.
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However, they will receive at least 60 days prior written notice of the transaction, which must be approved by the independent review committee of the Fund.
The type of transaction affected by the changes involves a Fund’s reorganization with, or transfer of assets to, another mutual fund with substantially similar investment objectives that is managed by the Manager or an affiliate.
Such a transaction may be carried out without unit holder approval provided that certain conditions are met, including: the Fund’s independent review committee approves the transaction, the mutual funds participating in the transaction bear none of the costs of the transaction; the transaction complies with certain other requirements of applicable securities laws, including National Instrument 81-102 – Mutual Funds; and unitholders are sent written notice of the transaction at least 60 days before its effective date.
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