Bridgehouse Asset Managers (Bridgehouse), the retail trade name for Toronto-based Brandes Investment Partners & Co., is making changes to its mutual fund lineup, the company announced Friday.
The changes include a proposed merger, a management fee reduction, and the end of a subadvisor relationship.
Bridgehouse will merge Greystone Canadian Equity Income & Growth Fund (the terminating fund) into Morningstar Strategic Canadian Equity Fund (the continuing fund), subject to shareholder and regulatory approval. If approved, the change will take effect on or about Dec. 14. In anticipation of the merger, the terminating fund was closed to new purchases Thursday.
The company has also decided to reduce the management fee applicable to Sionna Opportunities Fund, effective Oct. 1. The new fee for Series A will be 1.9%, while the new fee for Series F will be 0.9%.
Lastly, Brandes LP will cease to act as a subadvisor of Sionna Canadian Equity Fund, Bridgehouse says. Following this change, effective Dec. 1, Sionna Investment Managers Inc. will remain as subadvisor of the fund and Bridgehouse will remain as advisor.