ClaringtonFunds Inc. has received unitholder approval for the merger of three mutual funds. The Clarington RSP Global Equity Index Fund and Clarington RSP Select Global Balanced Fund will merge into Clarington RSP Global Equity Fund.

The RSP Global Equity Fund is managed by OppenheimerFunds Inc., one of the largest mutual fund companies in the U.S. These mergers will benefit unitholders by creating a larger, more efficient fund, says Clarington.

The mergers, which are subject to regulatory approval, are expected to take place on or about July 6, 2001.
Clarington is has over $1.8 billion in assets under management.