Manulife Investments announced April 26 that it will terminate its Oil Sands Sector Fund (TSX: OSF.UN) on or about June 29, 2018.
Manulife Investments says unitholders will not be required to take any action in connection with the termination of the Fund. The assets of the fund will be distributed “for an amount equal to the pro-rata share of the net assets of the fund remaining after the payment or accrual of all debts, expenses and liabilities and liquidation expenses of the fund,” said the company in a statement.
The fund will not pay its regular quarterly distribution (for the quarter ending June 29, 2018) nor any final distribution related to the termination of this fund, added Manulife Investments. Payment of the termination proceeds will be made on or about July 6, 2018.