Montreal-based O’Leary Funds Management LP has announced details about the merger of O’Leary Hard Asset Income Fund (TSX: OHA.un) and O’Leary Global Infrastructure Yield Fund.

If the proposed merger is approved by unitholders at a special meeting on October 31, the Hard Asset Fund will terminate and the Infrastructure Fund will continue.

Trust units of the Hard Asset Fund will be exchanged for series Y units of the Infrastructure Fund, and the trust units of the Hard Asset Fund will be delisted from the Toronto Stock Exchange at the close of business on October 31.

Unitholders of record of the Hard Asset Fund on October 31 will receive a monthly distribution of $0.065 per trust unit. This represents the final distribution as a closed-end fund and is expected to be paid before November 15.

The management fees for the Hard Asset Fund will remain the same for the series Y units of the Infrastructure Fund.