TORONTO, Sept. 30, 2013 /CNW/ - FT Portfolios Canada Co. ("First Trust"), the manager of ScotiaMcLeod™ Canadian Core Portfolio (the "Fund"), today announced a proposed meeting of unitholders to be held November 21, 2013 to approve a merger of the Fund with another First Trust managed fund, First Trust Canadian Capital Strength Portfolio. The merger is subject to the approval of unitholders of the Fund by way of an affirmative vote of not less than 50% of the votes cast at the meeting.
A notice of meeting and management information circular which will describe the proposed merger will be mailed to unitholders prior to the meeting. First Trust will also be seeking regulatory approval for the merger. If approved, it is expected the merger will be effective on or about November 22, 2013. Units of the Fund will cease to be offered effective today. Investors will continue to have the right to redeem securities of the Fund.
The Fund will be terminated no later than December 31, 2013, whether or not the proposed merger is completed, after which time the User Agreement between First Trust and Scotia Capital Inc. regarding the Fund will be terminated.
SOURCE: FT Portfolios Canada Co.
For further information:
Fraser Howell, President and Chief Executive Officer of First Trust at 416 865-8065 or 877 622-1787.