WINNIPEG, MB, Feb. 16, 2023 /CNW/ - IG Wealth Management ("IG") today announced its intention to wind-up Investors Group Corporate Class Inc. ("IGCC"). This will impact its suite of corporate class funds (the "Funds"), resulting in the merging of each Fund into its corresponding trust fund equivalent, on a tax-deferred basis.
IG believes this is in the best interest of investors since IGCC is in a taxable position. Changes to tax legislation and evolving market trends have eliminated many of the benefits that were previously available to corporate class funds.
Each of the Funds listed below will be merged into its equivalent trust fund that will be managed by the same sub-advisor and has a substantially similar investment objective. Where no corresponding trust fund equivalent currently exists, one will be launched. The mergers will take place on or about May 19, 2023.
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Merging Funds
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IG Beutel Goodman Canadian Equity Class
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IG Mackenzie Global Precious Metals Class
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IG Core Portfolio Class - Balanced
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IG Mackenzie Global Science & Technology Class
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IG Core Portfolio Class - Balanced Growth
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IG Mackenzie International Small Cap Class
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IG Core Portfolio Class - Balanced Growth II
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IG Mackenzie Ivy European Class
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IG Core Portfolio Class - Growth
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IG Mackenzie Ivy European Class II
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IG Core Portfolio Class - Growth II
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IG Mackenzie Ivy European Class III
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IG Core Portfolio Class - Income Balanced
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IG Mackenzie Ivy Foreign Equity Class
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IG FI Canadian Equity Class
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IG Mackenzie North American Equity Class
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IG FI Canadian Equity Class II
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IG Mackenzie North American Equity Class II
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IG Franklin Bissett Canadian Equity Class
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IG Mackenzie North American Equity Class III
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IG Franklin Bissett Canadian Equity Class II
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IG Mackenzie North American Equity Class IV
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IG JPMorgan Emerging Markets Class
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IG Mackenzie North American Equity Class V
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IG Mackenzie Betterworld SRI Class
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IG Mackenzie Pacific International Class
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IG Mackenzie Canadian Equity Class
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IG Mackenzie Pan Asian Equity Class
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IG Mackenzie Canadian Money Market Class
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IG Mackenzie Pan Asian Equity Class II
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IG Mackenzie Canadian Small/Mid Cap Class
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IG Mackenzie U.S. Equity Class
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IG Mackenzie Canadian Small/Mid Cap Class II
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IG Mackenzie U.S. Equity Class II
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IG Mackenzie Canadian Small/Mid Cap Class III
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IG Mackenzie U.S. Equity Class III
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IG Mackenzie Dividend Class
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IG Mackenzie U.S. Opportunities Class
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IG Mackenzie European Equity Class
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IG Mackenzie U.S. Opportunities Class II
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IG Mackenzie European Mid-Cap Equity Class
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IG Managed Risk Portfolio Class – Balanced
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IG Mackenzie Global Class
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IG Managed Risk Portfolio Class – Growth Focus
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IG Mackenzie Global Class II
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IG Managed Risk Portfolio Class – Income Balanced
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IG Mackenzie Global Class III
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IG Putnam U.S. Growth Class
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IG Mackenzie Global Class IV
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IG Putnam U.S. Growth Class II
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IG Mackenzie Global Consumer Companies Class
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IG T. Rowe Price U.S. Large Cap Equity Class
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IG Mackenzie Global Financial Services Class
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iProfile™ Canadian Equity Private Class
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IG Mackenzie Global Health Care Class
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iProfile™ Emerging Markets Private Class
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IG Mackenzie Global Infrastructure Class
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iProfile™ International Equity Private Class
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IG Mackenzie Global Natural Resources Class
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iProfile™ U.S. Equity Private Class
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Existing investors of the Funds as of February 17, 2023, will be sent an investor notice on or about March 14. No action is required by investors. All costs and expenses associated with the mergers will be borne by IG.
About IG Wealth Management
Founded in 1926, IG Wealth Management is a national leader in delivering personalized financial solutions to Canadians through a network of advisors located across Canada. In addition to an exclusive family of mutual funds and other investment vehicles, IG offers a wide range of other financial services. IG Wealth Management has $115.4 billion in assets under advisement as of January 31, 2023, and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's leading diversified wealth and asset management companies with approximately $259.5 billion in total assets under management and advisement as of January 31, 2023.
SOURCE IG Wealth Management
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