NEI Investments, the manager of the NEI funds, has proposed the following fund mergers. If approved, the mergers will be effective on or about April 18.
Both the NEI Northwest Macro Canadian Asset Allocation Fund and the NEI Northwest Macro Canadian Asset Allocation Corporate Class would be merged into the NEI Northwest Tactical Yield Fund.
The mergers have been proposed based on NEI’s ongoing review of its fund lineup. NEI says investors are expected to benefit from the increased scale and improved diversification of the continuing fund, and the mergers will occur on a taxable basis.
NEI has also announced that, effective on or about March 17, it will be replacing the current sub-advisor of the NEI Ethical Balanced Fund. Instead, an in-house portfolio management team.