IG Wealth Management Streamlines Product Shelf to Strengthen Performance and Deliver Enhanced Value to Clients

WINNIPEG, MB – March 12, 2021: As part of its ongoing efforts to reduce management fees, enhance investment performance and streamline its product shelf for clients, IG Wealth Management today announced the following proposed changes to its mutual fund lineup:
 

1.  Fee Reductions

Effective June 1, 2021, the annual management fee rates for the following Classes will be reduced, as indicated in the chart below:
 

Fund name

Series

Existing 

management fee

New 

management fee

IG Irish Life Low Volatility Global Equity Class

A and B

1.95%

1.90%

JDSC and JNL

1.70%

1.65%

U

0.85%

0.80%

IG Mackenzie Low Volatility Canadian Equity Class

A and B

1.85%

1.75%

JDSC and JNL

1.60%

1.50%

U

0.75%

0.65%

IG Aristotle U.S. Small Cap Class

A and B

2.00%

1.85%

JDSC and JNL

1.75%

1.60%

U

0.90%

0.75%

 

2. Fund Mergers

The fund mergers described below were reviewed and approved by the IG Wealth Management Funds Independent Review Committee (IRC)1, and will take effect as of the close of business on or about June 18, 2021:
 

Existing fund (merging fund)

To be merged into (continuing Fund)

IG Putnam U.S. Growth Fund II

IG Putnam U.S. Growth Fund

IG CI Canadian Balanced Fund

IG Mackenzie Mutual of Canada


The fund mergers described below are expected to be effective on or about the close of business on June 18, 2021, subject to regulatory approval and approval by securityholders:
 

Existing fund (merging fund)

To be merged into (continuing Fund)

IG Irish Life Low Volatility Global Equity Fund

IG Mackenzie Global Fund

IG Mackenzie Low Volatility Canadian Equity Fund

IG FI Canadian Equity Fund

3. Investment Objective, Investment Strategy, Sub-Advisor and Class Name Changes

IG Wealth Management is proposing to change the investment objectives, investment strategies, sub-advisors and names of the following Classes. They are expected to be effective on or about the close of business on June 14 or June 18, 2021, as indicated, subject to regulatory approval and approval by securityholders:

 

Class

 

Fund

Fund name change

New sub-advisor

Expected effective date

IG Irish Life Low Volatility Global Equity Class

To invest into

IG Mackenzie Global Fund

 

IG Mackenzie Global Class IV

 

Mackenzie Financial Corporation

June 18, 2021

IG Mackenzie Low Volatility Canadian Equity Class

To invest into

IG FI Canadian Equity Fund

 

IG FI Canadian Equity Class II

 

Fidelity Investments Canada ULC

June 18, 2021

IG Aristotle U.S. Small Cap Class

To invest into

IG Mackenzie U.S. Opportunities Fund

IG Mackenzie U.S. Opportunities Class II

Mackenzie Financial Corporation

June 14, 2021


The Classes listed above will be closed to new investments, other than for reinvested distributions and dividends, investments through existing pre-authorized contribution arrangements, and switches between series within the same Class.  All of these will be allowed to continue subject to the usual eligibility requirements.
 

Securityholder Meetings:

Some of the above fund mergers and investment objective changes are subject to securityholder approval and/or regulatory approval. Where applicable, securityholders of record as at April 5, 2021 will be asked to approve the merger or objective change involving their Funds at a virtual meeting scheduled at 10 a.m. (CDT) on June 3, 2021.

 

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 over $105 billion in assets under management as of February 28, 2021 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 $244 billion in total assets under management as of February 28, 2021.

1 In considering the merger, the IRC determined that the merger:

   ·    Represents the business judgment of IG Wealth Management, uninfluenced by considerations other than the best interests of the merging funds and continuing fund.
   ·    Complies with IG Wealth Management’ s written policies and procedures.
   ·    Achieves a fair and reasonable result for the merging funds and continuing fund.

This merger qualifies as a ‘pre-approved’ merger under securities regulations because it does not involve a substantive change in investment objectives or investment strategies for securityholders of the merging fund; the continuing fund will have a reduced maximum management fee as compared to the merging fund; and the merger will occur on a tax-deferred basis. Accordingly, as permitted by securities regulations, and as mentioned in the simplified prospectus of the merging fund and continuing fund, it is not necessary to seek approval from the securityholders of the merging fund, as the IRC has approved this merger based on certain conditions being met (including that securityholders receive written notice about the merger at least 60 days in advance).

Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. © Investors Group Inc. 2020.

Media Contact:

Rebecca Ellison
IGM Financial
647-983-4963
rellison@mackenzieinvestments.com