EDMONTON, Alberta, June 12, 2018 (GLOBE NEWSWIRE) -- CWB Wealth Management Ltd. (CWB WM), the manager of the CWB Mutual Funds, today announced proposed changes to certain CWB Mutual Funds to reduce duplication of mutual fund offerings that have similar investment objectives across CWB WM’s product lineup.  Effective on or about September 10, 2018, the following CWB Mutual Funds will merge:

Terminating CWB Mutual FundContinuing CWB Mutual Fund
CWB Core Fixed Income FundCWB Onyx Diversified Income Fund

On the effective date of the merger, unitholders of the CWB Core Fixed Income Fund will receive Series A units of the CWB Onyx Diversified Income Fund on a dollar-for-dollar and tax-deferred basis. The CWB Core Fixed Income Fund will be wound up following the merger.

The Independent Review Committee of the CWB Core Fixed Income Fund and the CWB Onyx Diversified Income Fund has approved the merger after determining that the merger would achieve a fair and reasonable result for each of the funds.

Unitholders of the CWB Core Fixed Income Fund will be sent written notice related to the merger at least 60 days prior to the effective date. Unitholders will have the right to redeem or switch their units of the CWB Core Fixed Income Fund up to the close of business on the business day immediately before the effective date of the merger.  Provided the effective date of the merger is September 10, 2018, unitholders will be able to redeem their units up to the close of business on September 7, 2018.

About CWB Wealth Management
CWB Wealth Management Ltd. (CWB WM) is part of CWB Financial Group, a diversified financial services group providing specialized services in business and personal banking, trust and wealth management across Canada. CWB WM provides discretionary portfolio management and investment advisory services, as well as financial planning products and services. Along with our subsidiaries, McLean & Partners Wealth Management Ltd. and Canadian Western Financial Ltd., we provide a range of investment services and solutions to institutional, high-net-worth and individual investors including mutual funds, pooled funds and separately managed accounts.

SOURCE: CWB Wealth Management Ltd.

For more information:

Loretta Carbonelli
Chief Compliance Officer
CWB Wealth Management Ltd.
Phone: (780) 392-1478
Email :