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Toronto-based Arrow Capital Management Inc. proposes to simplify its mutual fund lineup, while also delivering a management fee reduction for investors, the company announced Friday.

Arrow’s Independent Review Committee has approved the proposed merger of Exemplar Tactical Corporate Bond Fund into Exemplar Investment Grade Fund, the company says in a release.

Arrow expects the merger to take effect on or about March 27.

“We continually review our product line-up and make changes that we believe are in the best interests of our investors. This proposed change simplifies our mutual fund offering and provides our clients with a more streamlined platform of high-quality funds,” says Mark Purdy, managing director and CIO, in a statement.

Exemplar Investment Grade Fund will have a reduced management fee as compared to the Exemplar Tactical Corporate Bond Fund, Arrow says, and the merger will occur on a tax-deferred basis.