TORONTO, May 26 /CNW/ - United Financial Corporation, the manager of the
United Funds, announced today that it has completed the mergers of six funds.
The mergers were approved by securityholders in meetings held on May 22, 2009.
Each of the United Diversified Funds (which had been comprised of a
combination of a value mandate and a growth mandate) was merged with its
corresponding United Value Fund and United Growth Fund, as shown:-------------------------------------------------------------------------
Terminating fund Continuing funds
-------------------------------------------------------------------------
Canadian Equity Diversified Pool Canadian Equity Value Pool and Canadian
Equity Growth Pool
-------------------------------------------------------------------------
Canadian Equity Diversified Canadian Equity Value Corporate Class
Corporate Class and Canadian Equity Growth Corporate
Class
-------------------------------------------------------------------------
US Equity Diversified Pool US Equity Value Pool and US Equity
Growth Pool
-------------------------------------------------------------------------
US Equity Diversified Corporate US Equity Value Corporate Class and US
Class Equity Growth Corporate Class
-------------------------------------------------------------------------
International Equity Diversified International Equity Value Pool and
Pool International Equity Growth Pool
-------------------------------------------------------------------------
International Equity Diversified International Equity Value Corporate
Corporate Class Class and International Equity Growth
Corporate Class
-------------------------------------------------------------------------In each merger, assets of the United Diversified Fund were sold in return
for units or shares (as applicable) of the United Value Fund and United Growth
Fund. The United Diversified Fund was then terminated and each investor's
units or shares of the United Diversified Fund were replaced with a
proportionate number of units or shares of both the United Value Fund and the
United Growth Fund.
The mergers streamline and simplify United Financial's lineup while
putting investors into pools with more precise investment mandates than the
blended mandates of the diversified funds. At the same time, the mergers do
not change investors' overall market exposure or reduce their ability to build
a diversified portfolio, according to their preferences, using the United
lineup.
As previously announced, CI Global Holdings Inc., which carries on
business as Cambridge Advisors and is a subsidiary of CI Investments Inc., was
appointed portfolio manager of a portion of International Equity Growth Pool
and International Equity Growth Corporate Class, effective May 22. The
remainder will continue to be managed by Picton Mahoney Asset Management.
Cambridge Advisors, based in Boston, is led by Alan Radlo, Senior
Vice-President, Portfolio Management, who has more than 25 years of experience
in managing Canadian, U.S. and global large and small-cap equity portfolios.
About United Financial
United Financial Corporation is a Canadian investment management and
wealth planning firm. It provides customized managed portfolio solutions for
individuals, families and businesses through the Artisan Portfolios,
Institutional Managed Portfolios, Evolution Private Managed Accounts, Optima
Strategy, and Private Client Managed Portfolios programs distributed through
advisors with Assante Wealth Management. United Financial is on the Web at
www.unitedfinancial.ca.
United Financial is wholly owned by CI Financial Corp. (TSX: CIX), an
independent, Canadian-owned wealth management firm with approximately $82
billion in fee-earning assets as of April 30, 2009. CI Financial is on the Web
at www.ci.com/cix.
For further information: Steven J. Donald, President and Chief Operating
Officer, United Financial Corporation, (416) 644-5650
