AGF World Opportunities Fund will terminate on May 15, AGF Funds. Inc said Friday.

AGF had previously announced the termination of AGF World Opportunities Fund (originally scheduled to terminate on April 20) and units of the Fund have not been available for purchase since February 17.

The decision to terminate the fund was driven by a combination of the small number of unit holders, relatively low assets and the costs associated with maintaining such a small fund, AGF says.

Prior to the termination on May 15, unitholders of the fund will have the option to switch their investment to any of AGF’s diversified family of mutual funds or to redeem their units.

Any unitholders who hold AGF World Opportunities fund in an AGF registered account and who remain in the fund on May 14 will have their holdings redeemed and re-invested into the Front-End (FE) mutual fund series of AGF Canadian Money Market Fund.

For those unitholders who hold AGF World Opportunities Fund in a non-registered account or a non-AGF registered account, including all self-directed accounts under a nominee or intermediary, AGF will liquidate any remaining holdings of the fund at fair market value on or about May 15.

A final distribution of any income and capital gains, if any, will be made and the remaining net assets will be distributed to unitholders on May 15.

Unitholders will not be required to pay any redemption fees or sales charges, AGF says.

IE