IG Wealth Management Announces Product Changes to Strengthen Performance and Deliver Enhanced Value to Clients
WINNIPEG, MB, March 11, 2022 /CNW/ - IG Wealth Management (IG) today announced proposed changes to the IG Mackenzie Quebec Enterprise Fund and the IG Mackenzie Quebec Enterprise Class as well as a sub-advisor change to the iProfileTM Canadian Equity Private Pool and the iProfileTM Canadian Equity Private Class. The proposed changes to the IG Mackenzie Quebec Enterprise Fund and Class are intended to provide clients with the following benefits:
- Greater portfolio management and diversification opportunities through broader investment mandates that expand the investable universe from companies located in Quebec to companies located anywhere in Canada; and
- Potential for improved long-term performance at a similar risk level and in the same CIFSC Canadian Equity fund category.
The proposed changes described below are expected take effect as of the close of business on or about May 20, 2022, subject to approval by securityholders:
Fund Merger
Existing Fund | To be merged into | Continuing Fund Performance |
IG Mackenzie Quebec Enterprise Fund | IG Mackenzie Canadian Equity Fund | ★★★★ |
Investment Objective, Investment Strategy and Class Name Change
Class | Fund | Fund name change | |
IG Mackenzie Quebec Enterprise Class | To invest into | IG Mackenzie Canadian Equity Fund | IG Mackenzie Canadian Equity Class |
Fee Reductions
In advance of the fund merger, effective on or about May 18, the annual management fee rate for IG Mackenzie Canadian Equity Fund will be reduced as indicated below:
Series | Existing Management Fee | New Management Fee |
Series A and Series B | 1.85% | 1.70% |
Series C | 2.00% | 1.85% |
Series JDSC and Series JNL | 1.60% | 1.45% |
Series U | 0.75% | 0.60% |
Sub-advisor Change
In addition to the above changes, IG has also announced that Mackenzie Financial Corporation will replace Jarislowsky, Fraser Limited as sub-advisor of the Large Cap Value mandate of iProfileTM Canadian Equity Private Pool and the iProfileTM Canadian Equity Private Class. There will be no changes to the mandate investment objectives or to their investment risk ratings. These changes will take effect on or about March 11, 2022.
Securityholder Meeting
The above fund merger and investment objective change are subject to securityholder approval. Where applicable, securityholders of record as of March 23, 2022 will be asked to approve the changes involving their Fund/Class at a virtual meeting scheduled for May 17, 2022.
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 advisors 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 $115.5 billion in assets under advisement as of February 28, 2022 and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's leading diversified wealth and asset management companies with approximately $267.7 billion in total assets under management and advisement as of February 28, 2022.
1 Morningstar Star Ratings reflect performance of Series U as of February 28, 2022 and are subject to change monthly. The ratings are an objective, quantitative measure of a fund's historical risk-adjusted performance relative to other funds in its category. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund's 3, 5, and 10-year returns, as available, measured against the 91-day treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars; a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. Ratings are just one factor to consider when investing. For more information about this rating, contact Morningstar at 1-800-531-4725/www.morningstar.ca or your IG Wealth Management Consultant. The CIFSC categories, Star Ratings and number of funds in each category, for the standard periods, respectively, are IG Mackenzie Canadian Equity Fund Series U, Canadian Equity category: 1 year – (611 funds) 22.54% return, 3 years – 5 stars (554 funds) 13.65% return, 5 years - 3 stars (469 funds) 8.59% return, 10 year/Since inception (July 12, 2013) – n/a stars (244 funds), 9.62% return. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns for Series U as of February 28, 2022 including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Historical performance may not be indicative of future returns. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. © Investors Group Inc. 2020.
SOURCE IG Wealth Management
English Media Inquiries, Hilary Bassett, 416-951-7558, [email protected]; French Media Inquiries, Lara Berguglia, 514-994-2382, [email protected]
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