Investors Group announced that three new dividend growth funds, focused on helping Canadians address their growing need for income yield diversity and longer-term capital growth, have received regulatory approval and are now available for sale.

Investors Canadian Dividend Growth Fund, Investors U.S. Dividend Growth Fund, and Investors European Dividend Growth Fund, will invest primarily in companies that aim to provide income and long-term dividend growth in their respective markets. Investors Group’s internal money management team will provide day-to-day investment advisory services for these funds.

The new funds are equity products and the equity income generated from them will give clients the opportunity to diversify their source of yield, an important feature in today’s low-rate environment.

“Increases in life expectancy and anticipated length of retirement mean Canadians currently approaching retirement tend to be looking for investments that provide both income and growth opportunities,” said John Wiltshire, senior vp of product and financial [lanning.

With these three new dividend growth funds, Investors Group increases the choice it offers investors for dividend funds which also includes Canada’s largest fund, Investors Dividend Fund, and the recently launched Investors Global Dividend Fund.