MISSISSAUGA, ON, Aug. 24, 2015 /CNW/ - Smart Investments Ltd., the trustee and manager of the Pro Money Market Fund, the Pro Fundamental Bond Index Fund and Pro Fundamental Balanced Index Fund (the "Funds") notified the unitholders of the Funds of its intention to terminate such Funds on April 1, 2015. Today, Smart Investments provides an update that the Funds will wind up and terminate on or about August 28, 2015 upon the distribution of all of their assets to their respective unitholders.
Unitholders continued to have the right to redeem their units in the funds prior to the termination date. All units not redeemed prior to the termination date will automatically be redeemed by August 28, 2015. Units of the Funds are and will continue to be qualified investments for registered plans until redeemed.
Unitholders who held units in the Funds registered in the unitholder's own name, rather than holding units through a registered dealer, will be contacted directly by Smart Investments regarding the payment of the redemption of their units. To the extent that Smart Investments is unable to locate such unitholders, the redemption proceeds will be held in trust for such unitholders, who should contact Smart Investments to arrange for payment.
In accordance with applicable securities legislation, the unitholders of the Funds were provided with at least 60 days' prior written notice of the termination.
Earlier this year Smart Investments completed the acquisition of the Pro-Index Fund family. We are excited about our future plans and working with the advisor community. Over the coming months Smart Investments expects to announce some exciting new developments.
Smart Investments acts as manager of the following Index Funds: SMART CANADIAN INDEX FUND, SMART US INDEX FUND, SMART GLOBAL INDEX FUND, SMART HONG KONG CHINA INDEX FUND, SMART EMERGING MARKETS INDEX FUND, SMART NA DIVIDEND INDEX FUND.
SOURCE Smart Investments Ltd.
For further information: If you have any questions about the termination of the Funds or investment alternatives, please contact your investment advisor or Smart Investments at 905-815-6900 or toll free at 1-877-566-5145