Winnipeg-based Investors Group Inc. Monday announced the launch of two new funds: Investors U.S Dividend Registered Fund and Allegro Income Balanced Portfolio Class. Both are now available for sale.
Investors U.S. Dividend Registered Fund is available to residents of Canada through certain types of registered plans, such as RRSP or RRIF. The fund expands IG’s suite of dividend funds, and aims to provide long-term capital appreciation and income by investing primarily in a combination of U.S. dividend-paying equity securities and/or other types of income-producing investments.
Due to an exemption from U.S. withholding tax, no U.S. withholding tax will be charged on dividends and other U.S. source income received by investors in the fund, which should help to maximize its return.
Allegro Income Balanced Portfolio Class will complement the existing portfolio options in Investors Group’s Corporate Class structure. It aims to provide fixed income diversification and long-term capital appreciation by investing primarily in underlying funds that provide equity and/or fixed income exposure.
Both options are suitable for investors with capital growth as a long-term investment goal with direct or indirect exposure to fixed income markets, IG says.
Investors Group is a member of the IGM Financial Inc. (TSX: IGM) group of companies.