Mississauga, Ont.-based Excel Funds Management Inc. and Toronto-based NEI Investments announced on Tuesday they are making changes to certain mutual funds.
Excel Funds Management has changed the name of Excel Blue Chip Balanced Fund to Excel EM Blue Chip Balanced Fund. The new name more clearly identifies the fund’s investment process and the types of emerging-market investments the fund holds, according to the firm’s announcement. This change is already in effect.
NEI Investments, a division of Northwest and Ethical Investments LP, has made a change that will affect two funds. The firm is terminating NEI Northwest Enhanced Yield Equity Corporate Class on Sept. 16. Investors within the terminated fund will be merged into NEI Northwest Canadian Dividend Corporate Class fund.
Purchases of, and switches to, shares of the terminating fund will be suspended after the close of business on Sept. 9. Those who are invested in NEI Northwest Enhanced Yield Equity Corporate Class can redeem shares up to the close of business on Sept. 15. Pre-authorized payment plans and automatic withdrawal plans that were established for the terminating fund will be set up for the continuing fund following the date of the merger unless affected shareholders advise otherwise.
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