Standard Life Mutual Funds Ltd. has reorganized its Standard Life Mutual Funds and Legend Series Investment Pools into a multi-series structure. The new line-up, already approved unitholders and regulators, takes effect immediately.

As part of the reorganization strategy, Standard Life merged funds with similar investment objectives and modified the investment objectives and names of some of the Standard Life Mutual Funds and the Legend Series Investment Pools.

“The reorganization offers exciting new advantages to our distributors and investors, such as a broader range of core investment funds within each series” said Bernard Letendre, senior vice president of Standard Life Mutual Funds Ltd. in a news release.

The mergers of the investment pools with the Standard Life Mutual Funds are expected to greater cost efficiencies for unitholders through economies of scale. “We’ve also expanded our series structure to include a new O-Series targetting large, institutional investors,” added Letendre.

“We’ve introduced a brand-new monthly payout product, the Monthly Income Fund, now available to both Standard Life Mutual Funds (A-Series) investors and Legend Series (L-Series) investors,” said Anthony Cardone, senior vice president, SLMF Marketing. “At the same time, we’ve expanded the selection of funds within each series allowing investors the opportunity to tap into the proven, highly-regarded investment style of our manager, Standard Life Investments Inc.”, he added.