Opus 2 Financial Inc. has announced its intention to terminate the Opus 2 Funds, effective December 10.

In a statement released Wednesday, the company said the size of the funds does not allow for economical operations.

The Opus 2 Funds consist of: Opus 2 Canadian Growth Equity Fund; Opus 2 Canadian Value Equity Fund; Opus 2 Canadian Fixed Income Fund; Opus 2 U.S. Growth Equity Fund; Opus 2 U.S. Value Equity Fund; Opus 2 International Equity (EAFE) Fund; and Opus 2 Global Equity (RSP) Fund.

All expenses arising from these terminations will be borne by Opus 2 Financial. There are no redemption fees associated with the funds.

Unitholders are being given the opportunity to switch their units at no cost to the Emissary Funds, which are also managed by Opus 2 Financial.

The Emissary Funds have similar investment mandates and in most cases the same investment managers as those of the Opus Funds and the expense ratios, after management fee rebates, will also be similar.

Any holdings not switched out or redeemed by December 10 will be sold and the proceeds distributed proportionately to the relevant unitholders on that date.