M&A: Horizon Funds
Form Type: N-14
Filing Date: 2025-01-07
Corporate Action: Merger
Type: New
Accession Number: 000139834425000377
Comments: Horizon Funds has filed a Registration Statement for a proposed merger involving the Centre American Select Equity Fund and Centre Global Infrastructure Fund, collectively referred to as the Acquired Funds. A Special Meeting of Shareholders for each Acquired Fund has been scheduled to consider approving an Agreement and Plan of Reorganization wherein the assets and liabilities of the Acquired Funds will be transferred to corresponding newly created funds (Acquiring Funds) under Horizon Funds. The Reorganization will ensure shareholders receive shares of the Acquiring Funds equal in value to their current holdings in the Acquired Funds. The transition aims to maintain the same investment objectives, strategies, and risks, while changing the investment adviser from Centre to Horizon. All necessary approvals are pending, including that of the shareholders. The Outcomes of the meeting will determine the feasibility of the reorganization, indicating potential changes to management and oversight as the Acquiring Funds commence operations. Detailed information is provided for shareholders through a Combined Proxy Statement and Prospectus, which discusses the implications of the merger, expected fee structure adjustments, and overall management continuity.
Document Link: View Document
Additional details:
Title Of Securities Registered: Centre American Select Equity Fund - Advisor Class and Investor Class Shares
Title Of Securities Registered: Centre Global Infrastructure Fund - Advisor Class and Investor Class Shares
Board Of Trustees Approval: The Board of Trustees of Centre Funds has unanimously approved the Reorganizations and recommends that shareholders vote 'FOR' the Reorganizations.
Shareholder Notification: Shareholders are entitled to vote on the proposals applicable to their respective Acquired Fund at the Special Meeting.
Expected Closing Conditions: The closing of the Transaction is contingent upon each Acquired Fund receiving shareholder approval.
Portfolio Manager Info: Mr. James A. Abate will continue as Portfolio Manager of each Acquiring Fund.
Expense Limitation Agreement: Horizon has contractually agreed to waive its fees and reimburse expenses to ensure total annual fund operating expenses for each Acquiring Fund do not exceed designated levels.