WINNIPEG, July 17, 2014 /CNW/ - Investors Group today announced its intent to terminate two non-retail funds, Investors Group Income Fund and Investors Group Short Term Income Fund (the "Funds").
These Funds were created specifically to facilitate investment objectives and strategies that utilize forward sale transactions for two Classes (the "Classes"): Investors Capital Yield Class (for Investors Group Income Fund) and Investors Short Term Capital Yield Class (for Investors Group Short Term Income Fund). Investors Group recently announced changes to the investment objectives and strategies of the Classes to remove reference to the use of certain types of forward sale transactions in response to amendments to the Income Tax Act (Canada), which eliminated the tax-related benefits associated with these transactions.
As the Funds will no longer be required they will be terminated on or about September 23, 2014.
A notice will be sent to unitholders of the Funds at least 60 days before the terminations become effective.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The 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 4,900 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 $141 billion in total assets under management as of June 30, 2014.
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]