NEI Investments Wednesday announced proposed changes to the investment objectives of two of its mutual funds, subject to unitholder approval.
Unitholders of NEI Select Canadian Growth Portfolio and NEI Select Canadian Balanced Portfolio will be asked to approve changes to the fundamental investment objectives of these funds at special meetings to be held on June 1.
The proposed changes would allow the funds to invest 100% of their property in foreign securities.
If unitholders approve the changes, the names of the funds will be renamed NEI Select Growth Portfolio and NEI Select Balanced Portfolio, respectively.
It is anticipated that the changes in the fundamental investment objectives will become effective on or about June 8.
NEI Investments is a national investment firm with over $6 billion in assets under management (AUM).