At meetings held today, unitholders of several Investors Group Funds approved six fund mergers involving funds with identical or substantially similar investment mandates.
The mergers will help facilitate more efficient management of the funds, provide better investment diversification opportunities, and, in some instances, result in lower fees.
These mergers are expected to occur on July 20.
IG AGF Asian Growth Fund will merge into Investors Pacific International Fund
IG AGF Asian Growth Class will merge into Investors Pacific International Class
IG Mackenzie Select Managers Canada Fund will merge into IG Mackenzie Maxxum Canadian Equity Growth Fund
IG Mackenzie Select Managers Canada Class will merge into IG Mackenzie Maxxum Canadian Equity Growth Class
Mackenzie Universal U.S. Growth Leaders Fund (IG Series Units Only) will merge into IG Mackenzie Universal U.S. Growth Leaders Class
Mackenzie Universal Global Future Fund (IG Series units only) will merge into IG Mackenzie Universal Global Future Class.
Securityholders of several Alto and Allegro Portfolios also voted to approve allocation enhancements and revisions to the fee structure of some of their portfolios.
The enhancements include:
- Alto Conservative Portfolio – Equity exposure moving from 25% to 30% of portfolio assets;
- Alto Monthly Income Portfolio – Equity exposure moving from 27% to 33% of portfolio assets;
- Allegro Conservative Portfolio – Equity exposure moving from 25% to 30% of portfolio assets.
These changes are expected to take effect with the renewals of the prospectuses of the funds, which is anticipated to take place on or about July
20.