Winnipeg-based Investors Group Inc. is adding a no-load series to Investors Real Property Fund as a result of the firm’s decision to discontinue the deferred sales charge (DSC) series for its mutual funds at yearend.
The new no-load series being added to the fund are Series B and JNL as well as the creation of a no-load purchase option for Series C. Pricing for the fund’s no-load series will be aligned with existing pricing in effect for the fund’s DSC series.
The fund is designed for long-term investors as investments in real property are not as liquid as some other types of securities. To protect the fund’s unitholders, the fund may charge a liquidity fee of up to 2% of the net asset value of no-load purchase option series units redeemed from the fund if the redemption occurs less than 18 months from the date the units were acquired.
The changes are expected to take effect on or about Jan. 16, 2017, subject to regulatory approval.