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Unitholders will receive $9.88 a unit on or before Jan. 23, which includes an allocation of approximately $1.80 of taxable capital gains from the fund

By Tessie Sanci |

Toronto-based Artemis Investment Management Ltd. has terminated European Strategic Balanced Fund.

The redemption price for units redeemed on Dec. 30, 2016 was $9.88 a unit; the same amount will be paid to remaining unitholders on the termination of the fund, which is in effect on Tuesday, according to the firm's announcement.

These amounts will be paid on or before Jan. 23 and include an allocation of approximately $1.80 of taxable capital gains from the fund.

Artemis announced in December that it was terminating the fund because it was no longer feasible to continue the fund following the annual redemption of units in 2016.