TORONTO, August 30, 2021 /CNW/ – IA Clarington Investments Inc. (“iA Clarington”) has announced the completion of the merger of IA Clarington Global Bond Fund (Terminating Fund) into IA Clarington Loomis Global Multisector Bond Fund (Continuing Fund). The merger, which followed the receipt of all necessary unitholder and regulatory approvals, was completed after the close of business on August 27, 2021.
Unitholders of the ETF Series of the Terminating Fund (Terminating ETF Series) (TSX: IGLB) have received units of the ETF Series of the Continuing Fund (Continuing ETF Series) (TSX: ILGB) based on the stated exchange ratio, as set out in the table below, for each unit of the Terminating ETF Series held as at August 27, 2021. No fractional units of the Continuing ETF Series (or cash in lieu thereof) were issued or paid pursuant to the merger. The total number of units of the Continuing ETF Series issued in respect of the merger is also set out in the table below.
|Terminating ETF Series||Continuing ETF Series||Exchange ratio||Total number of Continuing ETF Series units issued in respect of the merger|
|ETF Series of IA Clarington Global Bond Fund (TSX: IGLB)||ETF Series of IA Clarington Loomis Global Multisector Bond Fund (TSX: ILGB)||1.0409:1||2,598,158|
The merger is considered a disposition for tax purposes. However, as the Terminating Fund did not pay distributions as a result of the merger, there are no tax consequences for unitholders.
Units of the Terminating ETF Series were delisted from the Toronto Stock Exchange at the close of business on August 27, 2021.
If you have any questions about this announcement, please speak with your financial advisor or contact iA Clarington Client Services at firstname.lastname@example.org or 1-800-530-0204.
About IA Clarington Investments Inc.
A subsidiary of Industrial Alliance Insurance and Financial Services Inc. – Canada’s fourth-largest life and health insurance company – iA Clarington offers a wide range of investment products, including actively managed mutual funds, managed portfolio solutions, Active ETF Series and socially responsible investments. As of June 30, 2021, iA Clarington has over $17 billion in assets under management. For more information, visit iaclarington.com.
Commissions, trailing commissions, management fees, brokerage fees and expenses all may be associated with mutual fund investments, including investments in exchange-traded series of mutual funds. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. The iA Clarington Funds are managed by IA Clarington Investments Inc. iA Clarington and the iA Clarington logo, and iA Wealth and the iA Wealth logo, are trademarks of Industrial Alliance Insurance and Financial Services Inc. and are used under license.
For further information: Rob Martin, VP, Marketing & Communications, iA Clarington Investments, email@example.com, T: 416-860-9880 ext. 8070.