Proposed Merger of Canaccord Fixed Income Funds
Canaccord Wealth International Investment Funds Limited has proposed the merger of its fixed income fund range into a single fund within Canaccord Wealth International Multi Strategy Funds Limited.
The following funds (the “Merging Funds”) are included in the proposal:
- High Income Fund
- Sterling Bond Fund
- Euro High Income Fund
Subject to shareholder approval, the Merging Funds will be consolidated into the Canaccord Wealth International Multi Strategy Funds Limited – High Income Bond Fund.
Rationale for the Proposal
The proposal follows a comprehensive review of Canaccord’s international recognised fund range. In recent years, assets under management within the Merging Funds have declined, resulting in fixed operating costs representing a higher proportion of fund expenses. This has begun to adversely impact investor outcomes.
The Merging Funds and the High Income Bond Fund have closely aligned investment objectives, policies and risk profiles, with a focus on providing high or regular income. By consolidating the funds into a single, larger fund, the proposed merger aims to:
- Achieve economies of scale
- Streamline operating costs
- Improve efficiency and flexibility in portfolio management
- Enhance long‑term investor outcomes while continuing regular income distributions
Canaccord Euro High Income Canaccord High Income Canaccord Sterling Bond Canaccord Multi Strategy