NEI to streamline shelf

NEI Investments has proposed a handful of fund mergers which would result in the termination of three funds.

The plan would see the end of the Credential EnRich Canadian Equity Pool, Credential EnRich US Equity Pool and Credential EnRich International Equity Pool, with assets merged into the Ethical Canadian Dividend Fund, Ethical American Multi-Strategy Fund and Northwest EAFE Fund, respectively.

Unitholders of the terminating funds will be asked to approve the mergers at a meeting to be held on June 27, 2011. It is proposed that unitholders who own either Class A Units or Class B Units of the terminating funds will receive Series A units of the continuing funds.

The mergers are also subject to regulatory approval. If the necessary approvals are obtained, it is anticipated that the mergers will be completed on or about June 27, 2011.

Effective April 19, 2011, units of the terminating funds will no longer be available for purchase, except for those unitholders who have existing arrangements in place to purchase units under pre-authorized contribution plans.

At the same time, NEI Investments has proposed a fixed administration fee for the Credential EnRich Income Pool, which will be renamed the NEI Income Fund on or about June 27, 2011. Currently, the fund pays all of its operating expenses, together with all applicable taxes, including HST.

Staff

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