SEI Canada announces the dissolution of the Conservative Fund
TORONTO, April 28, 2021 / CNW / – SEI Investments Canada Company (SEI Canada), a wholly owned subsidiary of SEI Investments Company (NASDAQ: SEIC), today announced its intention to dissolve the Conservative Fund (the Fund) effective June 29, 2021 (the date of termination). As of today, units of the Fund will no longer be available for purchase by new or existing unitholders. The decision to dissolve the Fund was motivated by the low asset balance of the Fund, which makes the efficient management of the Fund difficult, and its similarity to another existing SEI Canada mutual fund, namely the Income Fund 20 / 80.
Prior to the termination date, unitholders of the Fund have the option of transferring their investment to one of SEI Canada’s mutual funds (such as the 20/80 Income Fund) or of redeeming their units for cash. Any units not redeemed or exchanged prior to the termination date will automatically be redeemed for cash from the termination date. If applicable, a special distribution of income and / or capital gains will be made to all registered unitholders of the Fund on May 31, 2021. In addition, if necessary, a final distribution will take place on or before June 29, 2021.
In accordance with securities legislation, a notice will be sent to unitholders of the Fund at least 60 days prior to the date of termination.
SEI Canada encourages all unitholders of the Fund to consult their financial advisors to understand the financial and tax implications associated with replacing or redeeming their units of the Fund and to determine the solution that best meets their particular investment needs.
About SEI Canada
SEI founded his Canadian company in 1983, a pioneer in innovative asset management techniques for institutional investors. Today, SEI offers integrated investment management and strategic advisory solutions to help institutional investors achieve their organizational goals and fulfill their fiduciary responsibilities. Leveraging its investment expertise, SEI began offering investment solutions to retail investors through Investment Advisors in 1994. The Investment Approach offers multi-manager, diversified strategies to the globally with an appropriate preference for Canadian retail investors. SEI’s goal-based strategies, strategic asset allocation strategies and asset class funds are available through select broker relationships. For more information visit seic.com/en-ca.
After 50 years in business, SEI (NASDAQ: SEIC) remains a leading global provider of investment processing, investment management and investment operations solutions that help businesses, financial institutions, advisors financiers and very wealthy families to build and manage wealth. From March 31, 2021, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $ 1 trillion* in hedge, private equity, mutual funds and assets pooled or managed separately, of which approximately $ 384 billion* in assets under management and $ 836 billion* in customer assets under administration. For more information visit seic.com.
* Figures are in US dollars
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