WINNIPEG, April 23, 2015 /CNW/ - Investors Group has announced the proposed merger of iProfileTM Money Market Pool – Series I (merging fund) into Investors Canadian Money Market Class (currently known as Investors Managed Yield Class1) – Series I (continuing Class).
The proposed merger is expected to take effect on or about the close of business June 26, 2015, subject to any necessary securityholder and regulatory approvals.
Generally, the proposed merger is expected to benefit the securityholders of the merging fund as the merging fund is being merged into a substantially larger continuing Class, providing the potential for efficiencies in the management of its investment portfolio and the elimination of certain duplicate fund expenses.
The proposed merger has been reviewed by the Investors Group Funds Independent Review Committee (IRC), which has determined that it achieves a fair and reasonable result for the funds.
Securityholders of the merging fund will be asked to approve the proposed merger at a special meeting scheduled to be held June 23, 2015, in Winnipeg. Registered owners of the merging fund, as at the record date (May 19, 2015), will receive a Notice of Meeting, Proxy and a Management Information Circular detailing the proposed merger.
The proposed merger is not considered to be material for the continuing Class. Accordingly, a special meeting is not being convened for the continuing Class to approve the proposed merger.
Persons who become registered securityholders of the terminating fund after the record date (May 19, 2015) may request to receive the meeting materials and vote at the meeting by contacting the manager at least 10 days in advance of the meeting of the merging fund. The costs associated with the proposed merger will be borne by Investors Group.
This is not a solicitation to purchase securities. Mutual funds are sold by prospectus only. Please read the prospectus of the mutual funds, including mutual funds in which investment may be made under the iProfile Managed Asset Program before investing. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. 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. The Investors Group 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).
Investors Group, founded in 1926, is a national leader in delivering personalized financial solutions to Canadians through a network of over 5,100 Consultants located throughout Canada. In addition to an exclusive family of mutual funds and other investment vehicles, Investors Group offers a wide range of insurance, securities, mortgage and other financial services. Investors Group 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 $148 billion in total assets under management as of March 31, 2015.
1This mutual fund is a class of securities issued by Investors Group Corporate Class Inc.TM. A name change to Investors Canadian Money Market Class is expected to become effective May 1, 2015, subject to securityholder approval.
TMThis trademark is owned by IGM Financial Inc. and licensed to its subsidiary corporations.
SOURCE Investors Group Inc.
For further information: Ron Arnst, Investors Group, (204) 956-3364, [email protected]