Investors Group announces mutual fund changes

WINNIPEG, June 15, 2017 /CNW/ - Investors Group has announced a number of proposed changes to its mutual fund offering that will allow quicker response to changing market conditions and help ensure client investments continue to be well positioned for growth.

"These changes will improve our ability to ensure client portfolios are best aligned to address their unique needs," said Todd Asman, Executive Vice-President, Products and Financial Planning. "Our pursuit of excellence in investment and portfolio management is fuelled by our strong commitment to putting clients first."

In addition, Investors Group will be making slight fee reductions on a number of funds.

Proposed Fund Mergers

The following proposed mergers are expected to take effect on or about the close of business on September 8, 2017, subject to all necessary approvals.



Existing Fund (Merging Fund)

To be merged into (Continuing Fund)

Investors Canadian Balanced Fund

Investors Mutual of Canada

Investors Core Canadian Equity Fund

IG Franklin Bissett Canadian Equity Fund

IG Templeton International Equity Fund

IG Mackenzie Ivy European Fund

Investors International Equity Fund

IG Mackenzie Ivy European Fund

Investors Greater China Fund

Investors Pan Asian Equity Fund

Alto Conservative Portfolio

Allegro Conservative Portfolio1

Alto Moderate Conservative Portfolio

Allegro Moderate Conservative Portfolio1

Alto Moderate Portfolio

Allegro Moderate Portfolio1

Alto Moderate Aggressive Portfolio

Allegro Moderate Aggressive Portfolio1

Alto Moderate Aggressive Canada Focus Portfolio

Allegro Moderate Aggressive Portfolio1

Allegro Moderate Aggressive Canada Focus Portfolio

Allegro Moderate Aggressive Portfolio1

Alto Aggressive Portfolio

Allegro Aggressive Portfolio1

Alto Aggressive Canada Focus Portfolio

Allegro Aggressive Portfolio1

Allegro Aggressive Canada Focus Portfolio

Allegro Aggressive Portfolio1

____________________________

Allegro Portfolio funds are undergoing name changes effective on or about July 14, 2017. See Proposed Investment Objective Changes (1) for details.

Proposed Investment Objective Changes

1) Investors Group proposes to change the investment objectives and strategies of specific funds by allowing them to invest in fixed income, equity and/or other asset classes within disclosed ranges. This is expected to allow quicker response to changing market conditions. The changes, effective on or about September 6, 2017, subject to all necessary approvals, affect the following funds:  



Fund

Fund name as of July 14

Allegro Conservative Portfolio

Allegro Income Portfolio

Allegro Moderate Conservative Portfolio

Allegro Income Balanced Portfolio

Allegro Moderate Portfolio

Allegro Balanced Portfolio

Allegro Moderate Aggressive Portfolio

Allegro Balanced Growth Portfolio

Allegro Aggressive Portfolio

Allegro Growth Portfolio

Alto Monthly Income Portfolio

No change

Alto Monthly Income & Growth Portfolio

No change

Alto Monthly Income & Enhanced Growth Portfolio

No change


2) Investment objective and/or strategy changes are also proposed for specific Corporate Classes so that they may invest in the corresponding unit trust fund versions. This is expected to result in more efficient portfolio management and reduced trading costs in most instances. These changes are expected to be effective on or about September 6, 2017, subject to all necessary approvals.




Class                                                                             


Fund

IG Franklin Bissett Canadian Equity Class

To invest

into

IG Franklin Bissett Canadian Equity Fund


Investors Core Canadian Equity Class

To invest

into

IG Franklin Bissett Canadian Equity Fund


IG Mackenzie Ivy European Class

To invest

 into

IG Mackenzie Ivy European Fund


Investors International Equity Class

To invest

 into

IG Mackenzie Ivy European Fund


IG Templeton International Equity Class

To invest

 into

IG Mackenzie Ivy European Fund


Investors Pan Asian Equity Class

To invest

 into

Investors Pan Asian Equity Fund


Investors Greater China Class

To invest

 into

Investors Pan Asian Equity Fund



Some of the Corporate Classes named above are undergoing name changes effective on or about September 6, 2017.  These Classes will be closed to new investments other than reinvested distributions and dividends, and existing pre-authorized contribution (PAC) arrangements at that time with the exception of Investors Core Canadian Equity Class, which will be closed on or about September 8.



Current fund name

Fund name as of September 6

Investors Core Canadian Equity Class

IG Franklin Bissett Canadian Equity Class II 

Investors International Equity Class

IG Mackenzie Ivy European Class II

IG Templeton International Equity Class     

IG Mackenzie Ivy European Class III

Investors Greater China Class

Investors Pan Asian Equity Class II


3) Effective on or about September 6, 2017, subject to all necessary approvals, Investors Group is also proposing to change the investment objectives for Allegro Balanced Growth Canada Focus Portfolio Class and Allegro Growth Canada Focus Class to increase the geographic diversification.

To reflect this shift in focus, the Corporate Classes are undergoing name changes. These Classes will also be closed to new investments other than reinvested distributions and dividends, and for existing pre-authorized contribution (PAC) arrangements at that time.



Fund

Fund name as of September 6

Allegro Balanced Growth Canada Focus Portfolio Class

Allegro Balanced Growth Portfolio Class II

Allegro Growth Canada Focus Portfolio Class

Allegro Growth Portfolio Class II

Fee Reductions

As of September 1, 2017, several funds will have fee reductions totalling between 0.25 and 8.6 basis points on an annualized basis. Additional details are available in the accompanying Appendix.

Securityholder meetings

The above mergers and investment objective and strategy changes are subject to securityholder approval.  Securityholders of record as at July 7, 2017, will be asked to approve the changes involving their funds at meetings scheduled for 10:00 a.m. on August 31 at Investors Group's head office in Winnipeg.

This is not a solicitation to purchase securities of these funds.  Commissions, trailing commissions, management fees and expenses all may be associated with mutual funds investments.  Please read the prospectus of the mutual funds before investing.  Mutual funds are not guaranteed, their values change frequently and 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).

Founded in 1926, Investors Group 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, 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.

TM This trademark is owned by IGM financial Inc. and licensed to its subsidiary corporations.

Appendix

Effective September 1, 2017, the following Investor Group funds will have annualized fee reductions as indicated:




Fund

Total fee reduction

(basis points)

Types of fees affected

Allegro Aggressive Portfolio

(all retail series)

8.6

Management fee

Trustee fee

Administration fee

Allegro Conservative Portfolio

(all retail series)

1.8

Management fee

Allegro Moderate Aggressive
Portfolio

(all retail series)

2.7

 

Management fee

Administration fee

Allegro Moderate Conservative
Portfolio

(all retail series)

4.3

Management fee

Allegro Moderate Portfolio

(all retail series)

0.25

Trustee fee

Allegro Balanced Growth Portfolio
Class – Series U and Tu

7.8

 

 

Management fee

Administration fee

Allegro Balanced Growth Portfolio
Class (all other retail series)

8.0

Management fee

Administration fee

Service fee

Allegro Balanced Growth Canada
Focus Portfolio Class – Series U
and TU

6.8

 

Management fee

Administration fee




Allegro Balanced Growth Canada
Focus Portfolio Class (all other
retail series)

7.0

Management fee

Administration fee

Service fee

Allegro Balanced Portfolio Class

(all retail series)

2.0

Management fee

Administration fee

Allegro Growth Portfolio Class

(all retail series)

1.0

Administration fee

Allegro Income Balanced Portfolio
Class – Series U and Tu

4.7

Management fee

 

 

Management fee

Service fee

Allegro Income Balanced Portfolio
Class (all other retail series)

5.0

IG Templeton International Equity
Class (all retail series)

5.0

Management fee

Investors Greater China Class (all
retail series)

5.0

Management fee

Effective June 30, 2017, the following fees will be reduced for all series (except iProfile) of Investors Canadian Money Market Class:

  • Annual management fee from 1.05% to 1.00%
  • Annual administration fee from 0.10% to 0.06%

TM This trademark is owned by IGM financial Inc. and licensed to its subsidiary corporations.

SOURCE Investors Group Financial Services Inc.

For further information: Ron Arnst, Investors Group, (204) 956-3364, ron.arnst@investorsgroup.com

RELATED LINKS
http://www.investorsgroup.com

Organization Profile

Investors Group Financial Services Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890