McLean Budden Limited has changed the process to be followed in any future fund mergers or reorganizations involving the McLean Budden Mutual Funds, the Toronto-based investment firm said Monday.

As a result of this change, in the event of certain fund mergers or reorganizations, as permitted by National Instrument 81-102 – Mutual Funds, “unitholders will receive at least 60 days’ advance written notice of the proposed merger or other reorganization but will not be asked to approve the merger or reorganization.”

Specifically, a fund’s reorganization with, or transfer of assets to, another fund may be carried out without the prior approval of the unitholders of the fund provided that certain conditions are met, including:

•the fund’s independent review committee approves the transaction,

• the reorganization or transfer complies with certain requirements of applicable securities laws, including National Instrument 81-102, and

• unitholders of the mutual fund are sent a written notice at least 60 days before the effective date of the reorganization.

Founded in 1947, McLean Budden is one of Canada’s oldest investment firms. The firm actively manages over $35 billion in pension, foundation, mutual fund assets and private wealth on behalf of institutional and private clients across North America, Europe and Asia.

IE