Investors Group today announced proposed changes to its fund shelf including thirteen fund mergers involving funds with identical or substantially similar investment mandates.

These proposed mergers are intended to facilitate more efficient management of the funds and provide better investment diversification opportunities.

The following proposed mergers are expected to take effect on or about July 31:

  • Investors Latin American Growth Class to merge intoIG Mackenzie Universal Emerging Markets Class;
  • Investors Latin American Growth Fund to merge into IG Mackenzie Universal Emerging Markets Class;
  • IG Mackenzie Universal Emerging Markets Fund to merge into IG Mackenzie Universal Emerging Markets Class;
  • IG Sceptre Canadian Equity Fund to merge into Investors Canadian Equity Fund;
  • IG Sceptre Canadian Equity Class to merge into Investors Canadian Equity Class;
  • IG Sceptre Canadian Bond Fund to merge into Investors Corporate Bond Fund; and
  • IG Sceptre Canadian Balance Fund to merge into Investors Canadian Balanced Fund.

The changes to the IG Sceptre funds arise in conjunction with the announcement today that the manager of the IG Sceptre Funds has served a notice to terminate its investment advisory arrangements with Sceptre Investment Counsel Ltd.

The following proposed mergers are expected to take effect on or about November 21:

  • Investors Global e.Commerce Fund to merge into Investors Global Science & Technology Fund;
  • Investors Global e.Commerce Class to merge into Investors Global Science & Technology Class;
  • Investors Canadian Enterprise Fund to merge into Investors Canadian Equity Fund;
  • Investors Canadian Enterprise Class to merge into Investors Canadian Equity Class;
  • IG AGF Canadian Growth II Fund to merge into IG AGF Canadian Growth Fund; and
  • IG AGF U.S. Growth II Fund to merge into IG AGF U.S. Growth Fund.

The proposed mergers are subject to both securityholder and regulatory approval. Special meetings are scheduled to be held June 21 in Winnipeg to approve the mergers.

“Better investment diversification and more efficient management of the investment portfolio are key benefits of merging smaller mutual funds and those with substantially similar investment objectives and strategies into larger funds,” said John Wiltshire, senior vice president, products and financial planning, in a news release.

In a separate release, Investors Group announced its intention to add Canadian equity fund manager Bissett Investment Management to its fund offering.

Two new funds will be launched: IG Bissett Canadian Equity Fund and IG Bissett Canadian Equity Class of Investors Group Corporate Class Inc.

The funds are to be managed by I.G. Investment Management, Ltd., and are expected to be available in July or August of this year subject to regulatory and other approvals.

Bissett Investment Management, based in Calgary, was established in 1986 and, in 2000, merged with Franklin Templeton Investments.

“Bissett provides Investors Group clients with a brand name investment manager with a proven track record,” said Wiltshare.