TORONTO, March 5, 2012 /CNW/ - AEGON Fund Management Inc., an AEGON company, today announced proposed changes to its fund offering involving seven fund mergers on or about April 27th, 2012, to streamline and strengthen its line-up of funds.
"We regularly review our investment line-up to ensure that we continue to offer a lineup of exceptional investment choices. As a result of our review, we are proposing to merge several mutual funds that have relatively small asset size and number of unitholders with other mutual funds that we manage, " said Doug Brooks, Chairman, President and Chief Executive Officer, AEGON Fund Management. "Our primary intention of these fund mergers is to create a more focused line-up to meet the needs of our investors."
Subject to all necessary approvals, including regulatory and unitholder approvals, AEGON Fund Management is proposing to close the Terminating Funds (described below) and merge them into the Continuing Funds (described below) as follows:
|Terminating Fund||Continuing Fund|
|imaxx Canadian Equity Value Fund||imaxx Canadian Equity Growth Fund|
|imaxx Canadian Small Cap Fund||imaxx Canadian Equity Growth Fund|
|imaxx U.S. Equity Value Fund||imaxx Global Equity Growth Fund|
|imaxx U.S. Equity Growth Fund||imaxx Global Equity Growth Fund|
|imaxx Global Equity Value Fund||imaxx Global Equity Growth Fund|
|imaxx Canadian Balanced Fund||imaxx Canadian Fixed Pay Fund|
|imaxx TOP Income Portfolio||imaxx Canadian Fixed Pay Fund|
AEGON Fund Management's Independent Review Committee (IRC) has reviewed each of these fund mergers and determined that they each achieve a fair and reasonable result for the Funds.
Unitholders of each of the Terminating Funds and one Continuing Fund will be asked to approve the mergers involving their funds at Special Meetings scheduled to be held April 13th, 2012 in Toronto. Registered holders of these funds at the Record Date (February 29th, 2012) will receive a Notice of Meeting, Proxy and a Management Information Circular detailing the proposed mergers.
Persons who become registered unitholders of any of the Terminating Funds after the Record Date may request to receive the meeting materials and vote at the Meeting of their fund by contacting the Manager. The costs associated with the fund mergers will be borne by AEGON Fund Management.
Subject to all necessary approvals, including regulatory and unitholder approvals, these fund mergers are expected to be completed on or about April 27th, 2012. With respect to the fund mergers, effective as of the close of business on or about April 24, 2012 each Terminating Fund will cease distribution of new units, except purchases under pre-authorized chequing plans and dollar cost averaging plans. Unitholders will have the right to redeem securities of each Terminating Fund up to the close of business on the effective date of each merger. Following the mergers, pre-authorized chequing plans, systematic withdrawal plans and dollar cost averaging plans that had been established with respect to the Terminating Fund will be re-established with respect to the corresponding Continuing Fund, unless unitholders advise us otherwise.
About AEGON Fund Management
Established in 2002, AEGON Fund Management Inc. offers a core line-up of mutual funds and fund-of-funds portfolios managed by some of the finest Canadian and international investment managers, all with proven, long-term track records. As of December 31, 2011, assets under management were $667 million Cdn. Additional information about AEGON Fund Management can be found at www.imaxxwealth.com.
AEGON Fund Management is an AEGON company. AEGON, based in The Netherlands, is an international life insurance, pension and asset management company.
About AEGON Capital Management
AEGON Capital Management Inc. ("ACM") is a portfolio manager, managing $8.3 billion Cdn, as at December 31, 2011, for both institutional and retail clients. ACM works in partnership with its affiliates, Transamerica Life Canada and AEGON Fund Management Inc., as well as serving the needs of third party clients. AEGON Capital Management is the portfolio manager of the imaxxTM mutual funds offered by AEGON Fund Management. Additional information about AEGON Capital Management can be found at www.aegoncapital.ca.
AEGON Capital Management is an AEGON company. AEGON, based in The Netherlands, is an international life insurance, pension and asset management company.
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