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Goodman & Company") the manager of Dynamic Mutual Funds announces that it will terminate its RSP clone funds on July 15, 2005, as a result of recent legislation eliminating the 30% foreign content limit.
RSP clone funds were created to help investors exceed the legislated foreign content limit of 30%, which applied to registered plans.
Eliminating the RSP clone funds and investing directly in the underlying funds is a tremendous benefit to investors, as it eliminates a layer of expenses related to the RSP clone fund structure.
The National Bank Global Equity RSP Fund, National Bank Global Technologies RSP Fund and National Bank Future Economy RSP Fund, all of which are clone funds, used to have to invest in forward contracts to circumvent the foreign content limit.
National Bank Securities will close these clone funds on September 30, 2005.