IG Wealth Management announces multiple mutual fund and iProfile changes
WINNIPEG, June 13, 2019 /CNW/ - IG Wealth Management has announced changes to its mutual fund and iProfile offering, which include:
- Management fee reductions on certain funds
- Risk rating changes to three funds
- Investment strategy changes to:
- IG Core Portfolio Class – Growth
- iProfile Pools
Management Fee Reductions
Effective on or about June 30, 2019, the annual management fee rates for the following funds will be reduced, as indicated in the chart below:
Fund name | Series | Existing | New |
IG Mackenzie Ivy European Fund | A and B | 1.95% | 1.90% |
C | 2.00% | 1.95% | |
JDSC and JNL | 1.70% | 1.65% | |
U | 0.85% | 0.80% | |
IG Mackenzie Ivy European Class IG Mackenzie Ivy European Class II IG Mackenzie Ivy European Class III | A and B | 1.95% | 1.90% |
JDSC and JNL | 1.70% | 1.65% | |
U | 0.85% | 0.80% | |
IG Mackenzie Ivy Foreign Equity | A and B | 2.00% | 1.90% |
JDSC and JNL | 1.75% | 1.65% | |
U | 0.90% | 0.80% | |
IG Mackenzie Global Precious | A and B | 2.00% | 1.90% |
JDSC and JNL | 1.75% | 1.65% | |
U | 0.90% | 0.80% |
Fund Risk Rating Changes
Effective immediately, the risk rating classifications of the following funds have changed, as indicated in the chart below:
Fund | Previous rating | New |
Investors Global Financial Services Fund/Class | High | Medium to High |
Investors Global Dividend Fund | Medium | Low to Medium |
No changes have been made to the investment objectives or strategies of these funds.
Investment Strategy Changes
IG Core Portfolio Class - Growth
Effective on or about June 30, 2019, the investment strategies of IG Core Portfolio Class – Growth will be changed to expand the Fund's ability to invest in or gain exposure to equity and/or other asset classes, including investing up to 100% of its assets in foreign securities.
These changes will provide the Fund with a more flexible asset allocation approach, that should allow it to respond more quickly to changing market conditions in accordance with its investment objective.
iProfile Pools
Effective on or about October 21, 2019, the Trust Agreements for iProfile Pools will be amended to, among other things, reflect a change in strategy which removes the predetermined mandate exposure. This will allow the iProfile Pools to actively shift their investments in the mandates without having to provide advance notice to their Securityholders.
The change will result in each iProfile Pool gaining added flexibility that may result in greater portfolio management opportunities, including the ability to respond more quickly to changing market conditions and efficiencies in the management of their portfolios.
This change in strategy applies to the following iProfile Pools:
- iProfile Canadian Equity Pool
- iProfile U.S. Equity Pool
- iProfile International Equity Pool
- iProfile Fixed Income Pool
The change will also impact the iProfile Canadian Equity Class, iProfile U.S. Equity Class and iProfile International Equity Class that invest the iProfile Pools above.
In addition, effective on or about October 21, 2019, the iProfile International Equity Pool will add a new International Small Cap mandate which intends to provide exposure to common shares of small capitalization corporations outside of Canada and the U.S. The portfolio advisor intends to obtain this exposure by direct investment in other IG Wealth Management Funds or mutual funds of affiliates of the Manager.
This is not a solicitation to purchase securities of these funds. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus of the mutual funds before investing. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated. These funds are distributed across Canada by Investors Group Financial Services Inc., (in Quebec, a financial services firm) and Investors Group Securities Inc. (in Quebec, a firm in financial planning).
About IG Wealth Management
Founded in 1926, IG Wealth Management is a national leader in delivering personalized financial solutions to Canadians through a network of Consultants located across Canada. In addition to an exclusive family of mutual funds and other investment vehicles, IG offers a wide range of other financial services. IG Wealth Management has $88 billion in assets under management as of May 31, 2019 and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $159 billion in total assets under management as of May 31, 2019.
SOURCE IG Wealth Management
Media contact: Nini Krishnappa, IGM Financial, 647-828-2553, [email protected]
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