Investors Group is launching two new equity mandates IG FI U.S. Large Cap Equity Fund and Class and IG FI International Equity Fund and Class, the fund company said Wednesday.

The company also announced a proposal to change the investment objective for Investors Income Trust Fund.

The two new equity mandates, which are sub-advised by Fidelity Investments Canada ULC, through its affiliate Pyramis Global Advisors, LLC, will focus on providing opportunities for long-term capital appreciation.

IG FI U.S. Large Cap Equity Fund and Class will invest primarily in equity securities of U.S. companies while IG FI International Equity Fund and Class will invest primarily in equity securities of companies located outside Canada and the U.S. These new offerings are expected to be available for investments this summer, subject to regulatory approvals.

“These new funds provide clients with additional opportunities to diversify their portfolios and benefit from the vast investment potential that exists outside Canada,” said John Wiltshire, senior vice president, product and financial planning. “This provides our clients with greater access to Pyramis Global Advisors, an acknowledged leader in global investment management.”

Unitholders asked approve change to Investors Income Trust Fund

In addition, Investors Group has announced that a meeting of unitholders of Investors Income Trust Fund will be convened on June 23, to approve changes to the fund’s investment objective. These changes are expected to provide the fund with greater ability to diversify its portfolio by reducing the focus on investment in the income trust sector and by permitting broader investment in Canadian securities that provide equity income and other securities with higher yields.

“We expect this change will align well with the changes the federal government announced to the taxation of the income trust sector, as the Fund’s focus will broaden from investment in the income trust sector to include more securities that provide equity income such as common and preferred shares of Canadian companies, and other securities that have a strong track record of generating a high yield.” Wiltshire said.

Once the proposed changes are approved, it is expected that the fund will be re-named as Investors Canadian Equity Income Fund.

IE