Fidelity proposes fund mergers and terminationsBy The IJ Staff | March 13 2020 01:59PM
Fidelity Investments Canada ULC announced on March 12 proposed fund mergers and terminations as part of the company's review of its product line-up.
If the proposed mergers are approved, securityholders will automatically cease to hold securities of the Fidelity Event Driven Opportunities funds and will become securityholders in Fidelity Canadian Opportunities Fund or Fidelity Canadian Opportunities Class.
“The Fidelity Event Driven Opportunities funds will be generally closed to new purchases by new investors as of the close of business on March 26, 2020,” says Fidelity.
Subject to the approval of securityholders, Fidelity is also proposing the termination of Fidelity Global Telecommunications Fund and Fidelity Global Telecommunications Class. Investors will be able to switch into other Fidelity mutual funds or redeem their securities. The Global Telecom Funds will be generally closed to new purchases by new investors as of the close of business on March 26, 2020.