Toronto-based SEI Investments Canada Company, manager of the SEI Canada mutual funds, Friday announced its intention to terminate Nordea International Equity Fund on September 16.
Effective at the close of business July 18, units of the fund will no longer be available for purchase by new and existing unitholders.
SEI Canada says the decision to terminate the und was driven by a decline in assets which make it difficult to efficiently manage the fund in accordance with its intended investment objective.
Existing unitholders of the fund have the option to redeem their investments on or prior to the termination date. All units not redeemed prior to the fund’s closure will be automatically redeemed at that time.
If required, a final distribution will occur on or before September 16.