TORONTO, June 17, 2013 /CNW/ - NEI Investments ("NEI") announced today the successful merger of a number of mutual funds in its lineup, effective June 14, 2013. The mergers were approved by a majority of votes cast at a security holder meeting held April 30, 2013.
NEI SUCCESSFULLY MERGES SEVERAL NEI SELECT PORTFOLIOS
The following NEI Select Portfolios were successfully merged:
|Terminating Fund|| Continuing Fund
| NEI Ethical Select Global Balanced Portfolio
||NEI Ethical Select Canadian Balanced Portfolio|
| NEI Ethical Select Global Growth Portfolio
||NEI Ethical Select Canadian Growth Portfolio|
Security holders also approved changes to the fundamental investment objectives of the continuing funds to relax the current Canadian content restrictions. The continuing funds are now named the NEI Select Balanced Portfolio and NEI Select Growth Portfolio, respectively, to more accurately reflect the portfolio objectives. The risk ratings of the funds were unchanged as a result of the change in fundamental objectives.
ABOUT NEI INVESTMENTS
NEI Investments is a national investment firm with approximately $5 billion in assets under management. It offers Canadian retail investors unique access to top independent money managers through high quality investment solutions in two fund families, Northwest Funds and Ethical Funds. Its products provide investors with a full range of investment management styles as well as conventional and socially responsible investment choices.
NEI Investments is owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group. This backing of experience and resources allows NEI Investments to actively support business growth in these networks as well as independent advisor channels.
NEI Investments has offices in Toronto, Vancouver and Montreal.
SOURCE: NEI Investments
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