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Investors Group simplifies mutual fund offering with investment objective changes and mergers

Winnipeg, MB – September 17, 2018: Today, Investors Group has announced the following proposed changes: revisions to investment objectives and/or fundamental strategies of several funds and multiple fund mergers.

“These proposed changes streamline our mutual fund offering and introduce portfolio efficiencies,” said Jon Kilfoyle, Senior Vice-President, IG Investments. “The proposed changes also provide broader investment management diversification, and better position our investments for improved long-term performance, helping our clients reach their financial goals.”

Proposed investment objective changes

Investors Group is proposing to change the investment objectives and/or fundamental investment strategies of the following Funds so that they provide broader investment management diversification opportunities:

Fund

Nature and benefit of the proposed objective change

New fund name to reflect objective change*

Investors Canadian Natural Resource Fund

-Expand geographic focus

-Expand exposure to companies from around the world in the natural resources sector

-Broaden investment management diversification opportunities

IG Mackenzie Global Natural Resources Fund

Investors Canadian Small Cap Growth Fund

 

-Expand exposure to small and mid-cap Canadian companies

-Broaden investment management diversification opportunities

 

Investors Canadian Small/Mid Cap Fund

Investors Canadian Small Cap Growth Class

 

Investors Canadian Small/Mid Cap Class

Investors Canadian Small Cap Class**

Investors Canadian Small/Mid Cap Class II

 

IG Mackenzie Cundill Global Value Class*

-More efficient portfolio management, which may result in reduced trading costs

Investors Global Class II

*Changes effective on or about February 4, 2019, unless otherwise noted

**Change effective on or about February 8, 2019

 

In addition, the following Classes intend to adopt a ‘fund-of-fund’ investment approach. This will provide them with exposure to markets through investments in a corresponding unit trust fund with similar objectives, allowing them to combine their assets into a larger single pool to facilitate investment management decisions and provide the potential for lower trading costs:

Class                                                                                        

 

            Fund

Fund name change, effective on or about February 8, 2019

Investors Canadian Equity Class*

To invest into

Investors North American Equity Fund

Investors North American Equity Class II

 

IG Mackenzie Canadian Equity Growth Class*

To invest into

Investors North American Equity Fund

Investors North American Equity Class III

 

Investors Canadian Growth Class*

To invest into

Investors North American Equity Fund

Investors North American Equity Class IV

 

Investors Canadian Large Cap Value Class*

To invest into

Investors North American Equity Fund

Investors North American Equity Class V

 

IG Putnam Low Volatility U.S. Equity Class*

To invest into

Investors Core U.S. Equity Fund

Investors Core U.S. Equity Class III

 

           

Overall, these changes of Objectives are expected to provide the potential for improved long-term performance.

*These Funds will be closed to new investments (effective on the dates of their objective changes), other than for reinvested distributions and dividends, investments through existing pre-authorized contribution arrangements, and switches between Series within the same Class – all of which will be allowed to continue subject to the usual eligibility requirements.

 

Fund mergers

Investors Group is also proposing several fund mergers. These mergers are expected to provide investors with a streamlined and simplified product line-up, broaden investment management diversification opportunities and in some cases, may result in lower costs to clients.

The following proposed mergers are expected to be effective on or about the close of business on February 8, 2019, subject to all necessary approvals.

Existing Fund (Merging Fund)

To be merged into (Continuing Fund)

Investors Canadian Equity Fund

Investors North American Equity Fund

IG Mackenzie Canadian Equity Growth Fund

Investors North American Equity Fund

Investors Canadian Growth Fund

Investors North American Equity Fund

Investors Canadian Large Cap Value Fund

Investors North American Equity Fund

Investors Canadian Small Cap Fund

Investors Canadian Small Cap Growth Fund**

IG Mackenzie Ivy Canadian Balanced Fund

Investors Mutual of Canada

Investors U.S. Dividend Growth Fund

Investors Core U.S. Equity Fund

Investors U.S. Large Cap Value Fund

Investors Core U.S. Equity Fund

IG Putnam Low Volatility U.S. Equity Fund

Investors Core U.S. Equity Fund

Investors Canadian Bond Fund

IG Mackenzie Income Fund

IG Putnam Emerging Markets Income Fund

IG Putnam U.S. High Yield Income Fund

IG Mackenzie Cundill Global Value Fund

Investors Global Fund

Investors Global Real Estate Fund

Investors Global Fund

Alto Monthly Income & Global Growth Portfolio

Allegro Balanced Growth Portfolio***

**If approved, the merger of Investors Canadian Small Cap Fund into Investors Canadian Small Cap Growth Fund will proceed independently of whether the change of objective for Investors Canadian Small Cap Growth Fund (as noted under Proposed Investment Objective Changes) is approved.

***Effective on or about November 1, 2018, Allegro Balanced Growth Portfolio will change its name to IG Core Portfolio – Balanced Growth.

 

Security holder meetings

The above fund mergers and investment objective changes are subject to securityholder approval and/or regulatory approval. Securityholders of record as at October 5, 2018, will be asked to approve the merger or objective change involving their funds at meetings scheduled at 10a.m. (CST) on December 4, 2018 at Investors Group’s head office in Winnipeg.

 

Commissions, fees and expenses may be associated with mutual fund investments. Read the prospectus of the Funds and speak to an Investors Group Consultant before investing. Mutual funds are not guaranteed, values change frequently and past performance may not be repeated. Recommendations relate only to Investors Group mutual funds.

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 has $89.8 billion in assets under management as of August 31, 2018 and 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 $161.1 billion in total assets under management as of August 31, 2018.

 

Media contact:

Trish Tervit

Director, IGM Communications and Media Relations

Trish.tervit@igmfinancial.com

416-967-2166