Series B units of Capital Group funds will no longer be offered for sale as of May 24, Toronto-based Capital International Asset Management (Canada) Inc. announced on Tuesday.
“This action follows several years of diminishing demand for Series B,” the firm says in a news release. Series B units are currently provided solely under a deferred sales charge purchase option.
The Series will also be closed to automatic investment plans and transfers into the series.
Current investors in Series B can continue to hold their investment in such units, including reinvested distributions, in accordance with the applicable existing terms, such as the deferred charge schedule.
Existing automatic investment plans in regards to Series B units will be stopped.