Unitholders have approved the merger of iProfie Money Market Pool into Investors Canadian Money Market Class, Winnipeg-based Investors Group Inc. announced on Tuesday.

The approved merger is expected to occur after the close of business on June 26.

The merger is expected to benefit unitholders of the merging fund as it is being merged into a substantially larger continuing fund, Investors Group said in a release, providing the potential for efficiencies in the management of its investment portfolio and the elimination of certain duplicate fund expenses.