(November 14 – 14:30 ET) – Northwest Mutual Funds Inc. says that unitholders approved fund mergers and changes to investment strategy during a special unitholder meeting held in Toronto on November 6.

Unitholders of Northwest Income Fund approved the change in the fund’s investment objective and strategy from that of an income fund to that of a high yield income fund. Northwest says the fund is now managed by Doug Knight of Deans Knight Capital Management Ltd. of Vancouver.

Unitholders of Northwest Dividend Fund approved a merger with Northwest Balanced Fund, while unitholders of Marathon Performance Canadian Cash Manager Fund approved a merger with Northwest Money Market Fund.

According to Northwest, Northwest Mutual Funds Inc. and Marathon Mutual Funds Inc., each of which is currently controlled by First International Asset Management Inc., are to be merged. The proposals approved by unitholders on November 6 are components of a strategy to merge similar funds so as to avoid the inefficiencies of duplication and to realign the funds in the Northwest/Marathon family of funds to better suit the needs of unitholders.
-IE Staff