Toronto-based NEI Investments announced on Monday that it has received securityholder approval for its proposal to merge several mutual funds.

The changes were approved by a majority of votes cast in respect of the trust funds and 66 2/3% of the votes cast in respect of the corporate class funds at the special meetings of held on Aug. 31.

The following mergers will be effective on or about Sept. 14:

  • NEI Income Fund into NEI Canadian Bond Fund;
  • NEI Northwest Specialty High Yield Bond Fund into NEI Northwest Specialty Global High Yield Bond Fund;
  • NEI Northwest Macro Canadian Equity Fund into NEI Northwest Macro Canadian Asset Allocation Fund;
  • NEI Northwest Macro Canadian Equity Corporate Class into NEI Northwest Macro Canadian Asset Allocation Corporate Class;
  • NEI Select Global Balanced Portfolio into NEI Select Balanced Portfolio; and
  • NEI Select Global Growth Portfolio intor NEI Select Growth Portfolio.

NEI Investments is a national investment firm with approximately $6 billion in assets under management. It offers Canadian retail investors access to experienced money managers through three fund families, NEI, Northwest Funds and Ethical Funds.