Ottawa-based MD Financial Management Inc. on Friday announced that it will terminate Series T of 14 MD funds and MDPIM pools on Aug. 25.

“Terminating Series T will enable MD to devote more focus and resources to its ongoing strategy of finding innovative ways to better meet the needs of all its clients,” the company says in its announcement.

“All affected clients have been notified by letter about the termination of Series T, and MD advisors and portfolio managers are providing information about the investment options available to them, including transferring to Series A of the same mutual fund or MDPIM pool,” says Mike Gassewitz, MD’s executive vice president, member solutions, in a statement.

Any clients who have not transferred out of Series T by Aug. 25, will automatically be transferred into Series A of the same MD mutual fund or MDPIM pool on that day.

A switch from Series T to Series A of the same mutual fund trust or MDPIM pool will be treated on a tax-deferred basis, with no capital gain or loss arising from the transaction.

The complete list of affected funds is included in the company’s announcement.