Winnipeg-based Investors Group has added a new balanced fund to its product offering, the firm said Friday.

IG Mackenzie Sentinel Strategic Income Fund will seek income with the potential for long-term capital growth by investing primarily in fixed income investments and/or securities that pay equity income.

The new mandate will pursue a flexible approach to investing in fixed income and/or equity asset classes with no geographic restriction.

Subject to regulatory approval, the fund is expected to be available in mid-January 2013.

“With many people either retiring or heading into their final working years, the need to produce steady cash flow is an important factor in retirement income planning,” said Todd Asman, senior vice president, product and Financial Planning at Investors Group. “The added dimension of potential capital growth in the long term is also an important objective of this fund.”