Investors Group merges funds

Winnipeg-based Investors Group Inc. has merged two of its mutual funds following the approval of unitholders. IG AGF Canadian Growth Fund has merged with IG Mackenzie Canadian Equity Growth Fund; IG AGF Canadian Growth Class has merged with IG Mackenzie Canadian Equity Growth Class. Investors Group expects the mergers to provide a larger asset base along with the potential of greater diversification and portfolio-management opportunities, along with efficiencies in investment management. Unitholders of IG Mackenzie Canadian Equity Growth Class also approved a change to that fund’s investment objective. Although the fund will continue to seek long-term capital growth, it will now do so through exposure to Canadian-based corporations of any size by investing in other mutual funds and/or directly in equities. Advisor commissions for deferred sales are up to 4.2%. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 for the regular DSC schedule. Trailing commissions are up to 0.63% for A-class shares. Management fees are 1.85% for A-class units. Minimum investment is $50.

fcollie@investmentexecutive.com