Toronto-based Sun Life Global Investments (Canada) Inc. (SLGI) and Excel Funds Management Inc. have announced receipt of unitholder approval to proceed with several fund changes.
Effective June 15, select Excel Funds and SLGI funds will each merge into a SLGI fund. The funds to be merged are:
- Excel Emerging Markets Fund into Sun Life Schroder Emerging Markets Fund
- Excel Chindia Fund into Sun Life Schroder Emerging Markets Fund
- Sun Life MFS Canadian Equity Fund into Sun Life MFS Canadian Equity Growth Fund
- Sun Life MFS Canadian Equity Fund into Sun Life Canadian Equity Growth Fund.
The unitholder meeting for the Excel Money Market Fund was adjourned as quorum was not met. The adjourned meeting is planned for June 1.
Furthermore, on June 18, fixed-rate administration fees will be implemented for the following Excel Funds: Excel China Fund, Excel Emerging Markets Balanced Fund, Excel High Income Fund, Excel India Balanced Fund, Excel New Indian Leaders Fund and Excel India Fund.
Additionally, all Excel funds will adopt SLGI’s form of declaration of trust.