TORONTO, April 28, 2021 – SEI Investments Canada Company (SEI Canada), a wholly-owned subsidiary of SEI Investments Company (NASDAQ:SEIC), today announced its intention to terminate the Conservative Fund (the Fund) effective on or about June 29, 2021 (the Termination Date). Effective today, units of the Fund will no longer be available for purchase by new or existing unitholders. The decision to terminate the Fund was driven by the Fund’s low asset balance, which makes it difficult to efficiently manage the Fund, and its similarity to another existing SEI Canada mutual fund, namely the Income 20/80 Fund.
Prior to the Termination Date, unitholders of the Fund have the option to switch their investment to any of SEI Canada’s family of mutual funds (such as the Income 20/80 Fund) or to redeem their units for cash. All units not redeemed or switched prior to the Termination Date will be automatically redeemed for cash effective as of the Termination Date. If applicable, a special distribution of income and/or capital gains will be paid to all of the Fund’s unitholders of record on May 31, 2021. Additionally, if required, a final distribution will occur on or before June 29, 2021.
In accordance with securities legislation, a notice will be sent to unitholders of the Fund no less than 60 days prior to the Termination Date.
SEI Canada encourages all unitholders of the Fund to consult with their financial advisors to understand the financial and tax implications associated with switching or redeeming their units of the Fund and to determine the solution that best fits their particular investment needs.
About SEI Canada
SEI founded its Canadian business in 1983, pioneering innovative asset management techniques for institutional investors. Today, SEI offers integrated investment management and strategic advice solutions to help institutional investors achieve their organizational goals and fulfill fiduciary responsibilities. Capitalizing on its investment expertise, SEI began offering investment solutions to retail investors through investment advisors in 1994. The investment approach provides multi-manager, globally diversified strategies with an appropriate home-country bias for Canadian retail investors. SEI’s goals-based strategies, strategic asset allocation strategies and asset class funds are available through select dealer 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 corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of 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 fund and pooled or separately managed assets, including approximately $384 billion* in assets under management and $836 billion* in client assets under administration.
*Figures are in US dollars
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