Home Breadcrumb caret Industry News Breadcrumb caret Industry Breadcrumb caret Investments Breadcrumb caret Market Insights BMO proposes merging two funds BMO’s investment council is proposing to merge its Private Canadian Growth Equity Portfolio into its Private Canadian Conservative Equity Portfolio. By Staff | May 4, 2016 | Last updated on May 4, 2016 1 min read BMO Private Investment Counsel Inc. (BPIC) is proposing to merge its BMO Private Canadian Growth Equity Portfolio into its BMO Private Canadian Conservative Equity Portfolio. If it gets regulatory approval, the merger is planned for July 8, 2016. From then on, the fund would be known as the BMO Private Canadian Core Equity Portfolio. Read: Your behind-the-scenes allies at investment funds As a provider of discretionary investment management services, BPIC will be applying to securities regulators for relief from the requirement to obtain unitholder approval of the proposed merger and for regulatory approval. The funds’ Independent Review Committee approved the merger after determining it would achieve a fair and reasonable result. The primary purpose of the merger is to streamline BPIC’s investment products and to achieve economies of scale. Should the merger be approved, BMO Private Canadian Growth Equity Portfolio fund holders will receive units of the BMO Private Canadian Conservative Equity Portfolio, determined on a dollar-for-dollar and tax-deferred basis. Also read: BMO opens two socially responsible mutual funds Excel Funds launches 2 India-focused mutual funds Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo