SEI Investments Canada wants to terminate five funds. These are the:

  • 2015 Target Date Fund;
  • 2020 Target Date Fund;
  • 2025 Target Date Fund;
  • 2030 Target Date Fund; and
  • 2040 Target Date Fund.

Once applicable notice has been provided to current unit holders, the funds will be closed no later than December 31, 2013.

The company says unit holders will continue to have the right to redeem their units in the funds prior to the chosen termination date. All units not redeemed prior to that date will be automatically redeemed.