On October 29, 2010 the OSC published Staff Notice 81-711 Closed-End Investment Fund Conversions to Open-End Mutual Funds setting out the views of OSC staff on such conversions. The issues addressed in the notice relate to disclosure, notice to investors, provision of redemption rights prior to conversion, compliance with National Instrument 81-102 Mutual Funds, consistent investment objectives and strategies, use of past performance data and the assumption of all merger costs by the fund manager.