Fidelity Investments Canada ULC Provides Update Regarding Proposed Fund Mergers and Terminations

TORONTO, April 1, 2020 /CNW/ - Fidelity Investments Canada ULC ("Fidelity"), one of Canada's top investment management firms, today announced updates with respect to the proposed fund mergers and terminations previously announced on January 16, 2020 and March 12, 2020.

As a result of COVID-19 and to prioritize the health and safety of its investors and employees, Fidelity has decided to postpone the following previously announced proposed fund mergers (the "Proposed Mergers") and related shareholder meetings to a future date:

Terminating Fund	Continuing Fund
Fidelity Event Driven Opportunities Fund	Fidelity Canadian Opportunities Fund
Fidelity Event Driven Opportunities Class	Fidelity Canadian Opportunities Class
Fidelity Event Driven Opportunities Currency Neutral Class	Fidelity Canadian Opportunities Class

In addition, effective as of April 1, 2020, Fidelity Event Driven Opportunities Fund, Fidelity Event Driven Opportunities Class and Fidelity Event Driven Opportunities Currency Neutral Class will be temporarily managed by Joel Tillinghast on an interim basis, replacing the current portfolio manager of these funds, Arvind Navaratnam, until the completion of the Proposed Mergers.

Fidelity has also decided to postpone the termination of Fidelity Global Telecommunications Fund and Fidelity Global Telecommunications Class (the "Proposed Terminations") and the related shareholders meeting in respect of Fidelity Global Telecommunications Class to a future date.

The previously announced termination of the following funds, which do not require shareholder approval, will proceed as planned: Fidelity NorthStar® Currency Neutral Fund; Fidelity American Disciplined Equity® Currency Neutral Fund; Fidelity International Disciplined Equity® Currency Neutral Fund; and Fidelity Global Disciplined Equity® Currency Neutral Fund (the "Currency Neutral Funds").

Fidelity is continuing to monitor the COVID-19 situation and will provide investors with an update with respect to the Proposed Mergers and Proposed Terminations and related shareholder meetings when available. Fidelity Event Driven Opportunities Fund, Fidelity Event Driven Opportunities Class, Fidelity Driven Opportunities Currency Neutral Class, Fidelity Global Telecommunications Fund, Fidelity Global Telecommunications Class and the Currency Neutral Funds remain closed to new purchases by new investors.

About Fidelity Investments Canada ULC

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals.

As a privately-owned company, our people and world class resources are committed to doing what is right for investors and their long-term success. Our clients have entrusted us with $126 billion in assets under management (as at March 31, 2020) and they include individuals, financial advisors, pension plans, endowments, foundations and more.

We are proud to provide investors a full range of investment solutions through mutual funds and exchange-traded funds, including domestic, international and global equity, income-oriented strategies, asset allocation solutions, managed portfolios, sustainable investing and our high net worth program. Fidelity Funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks, and insurance companies.

Find us on social media @FidelityCanada 

SOURCE Fidelity Investments Canada ULC

Chris Pepper, Vice-President, Corporate Affairs, Fidelity Investments Canada ULC, T: [phone], M: [phone], E: [email protected]

Related Links

http://www.fidelity.ca