Dynamic Funds announces proposal to merge certain funds and wind up Dynamic Managed Portfolios Ltd.
TORONTO, September 15, 2023
1832 Asset Management L.P., as manager of Dynamic Funds (the "Manager”), announced a proposal to merge certain funds and wind up the Dynamic Managed Portfolios Ltd. (DMP) mutual fund corporation to streamline its product shelf and more closely align with client preferences.
Proposed merger of Dynamic Managed Portfolios Ltd.
The Manager proposes that each of the corporate class funds of DMP (each, a “Terminating Fund”) be merged into the corresponding mutual fund below (each, a “Continuing Fund”) on a tax-deferred basis:
| Terminating Funds | Continuing Funds | |
|---|---|---|
| DMP Resource Class | to merge into | DynamicEdge Balanced Growth Portfolio |
| DMP Power Global Growth Class | ||
| DMP Value Balanced Class | to merge into | Dynamic Value Balanced Fund |
Securityholders will vote on the proposed mergers of DMP Resource Class and DMP Power Global Growth Class at special meetings to be held virtually on or about October 23, 2023. Subject to obtaining securityholder approval, the mergers of these Terminating Funds are anticipated to occur on or about November 17, 2023. In the event securityholder approval is not obtained by either Terminating Fund, notice is hereby provided that the applicable fund(s) will be terminated on or about November 14, 2023.
In advance of the applicable securityholder meetings, a notice-and-access document will be sent on or about September 15, 2023, to securityholders of record as at August 24, 2023. The notice-and-access document will describe how securityholders can obtain a copy of the management information circular (the “Circular”) that contains full details of the proposed mergers. The notice-and-access document and Circular will also be available on SEDAR+ at www.sedarplus.ca.
Merging DMP Value Balanced Class into Dynamic Value Balanced Fund does not require securityholder approval, as it meets the applicable requirements under National Instrument 81-102 Investment Funds for permitted mergers. A notice containing additional details of the permitted merger will be sent to applicable securityholders.
All costs and expenses associated with each of the mergers will be borne by the Manager.
Press Release – Results of Special Meetings (October 23, 2023)
Press Release (July 21, 2023)
Advisor FAQ
Notice and Access Document
Management Information Circular