Upward trajectory in ETFs’ AUM expected to continue
tibangpain/123RF

Toronto-based Artemis Investment Management Ltd. announced on Friday that it’s terminating its European Strategic Balanced Fund on Jan. 9, 2017.

The firm has decided that it is no longer feasible to continue the fund following this year’s annual redemption of its units, according to Artemis’ announcement.

“Unitholders will receive the net asset value per unit that is calculated after the close of business on Jan. 9, 2017, which is expected to be the same amount as will be paid to unitholders who redeem their units on Dec. 30, pursuant to the fund’s annual redemption right,” the announcement states. “This amount will be paid to unitholders on or before the 15th business day of January 2017.”

Trading of units on the Toronto Stock Exchange will continue until the close of business on Jan. 9, 2017.

Photo copyright: tibangpain/123RF