Toronto-based Arrow Capital Management Inc. has received unitholder approval to merge two funds.
The Exemplar Investment Grade Fund, including its ETF Series, will merge into the Arrow EC Income Advantage Alternative Fund.
The Arrow EC fund seeks to generate risk-adjusted returns with low volatility in all interest rate environments.
The merger will take place at the end of business on June 25.
Holders of Exemplar ETF Units will recieve ETF units of the Arrow EC ETF on a one-for-one basis.
The ETF will trade on the Toronto Stock Exchange under the ticker “RATE” starting June 28, 2021.