The firm’s announced moves include mergers, strategy changes, and fee reductions
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Investors Group has announced numerous fund changes that it says would allow quicker response to changing market conditions, as well as slight fee reductions for selected funds.
Pending necessary approvals, 14 funds are expected to be merged into other existing funds on or about Sep. 8:
In relation to the mergers, the firm seeks to make continuing Allegro portfolio funds more responsive to market changes by allowing them to invest in fixed income, equity, and other asset classes. The changes are expected to take place on or about Sep. 6. In anticipation of the changes, the following funds will be renamed as of July 14:
Specific corporate-class funds — including the IG Franklin Bissett Canadian Equity Class, the Investors International Equity Class, and the Investors Pan Asian Equity Class — are also being changed so they can invest in corresponding unit trust fund versions. These changes, which are to take place on or about Sep. 8, are anticipated to result in more efficient portfolio management and reduced trading costs.
The objectives for the Allegro Balanced Growth Canada Focus Portfolio Class and Allegro Growth Canada Focus Class funds will also be changed, effective on or about Sep. 6, to increase their geographic diversification. At the same date, they will be renamed as the Allegro Balanced Growth Portfolio Class II and the Allegro Growth Portfolio Class II, respectively.
Finally, several funds will be undergoing fee reductions between 0.25 and 8.6 basis points on an annualized basis as of Sep. 1. The funds affected include selected Allegro funds, the IG Templeton International Equity Class, and the Investors Greater China Class.
The types of fees impacted — which include management, service, administration, and trustee fees — vary for the different funds.
For more of Wealth Professional's latest industry news, click here.
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Pending necessary approvals, 14 funds are expected to be merged into other existing funds on or about Sep. 8:
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Existing Fund
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To be merged into
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Investors Canadian Balanced Fund
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Investors Mutual of Canada
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Investors Core Canadian Equity Fund
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IG Franklin Bissett Canadian Equity Fund
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IG Templeton International Equity Fund
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IG Mackenzie Ivy European Fund
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Investors International Equity Fund
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IG Mackenzie Ivy European Fund
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Investors Greater China Fund
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Investors Pan Asian Equity Fund
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Alto Conservative Portfolio
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Allegro Conservative Portfolio
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Alto Moderate Conservative Portfolio
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Allegro Moderate Conservative Portfolio
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Alto Moderate Portfolio
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Allegro Moderate Portfolio
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Alto Moderate Aggressive Portfolio
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Allegro Moderate Aggressive Portfolio
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Alto Moderate Aggressive Canada Focus Portfolio
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Allegro Moderate Aggressive Portfolio
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Allegro Moderate Aggressive Canada Focus Portfolio
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Allegro Moderate Aggressive Portfolio
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Alto Aggressive Portfolio
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Allegro Aggressive Portfolio
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Alto Aggressive Canada Focus Portfolio
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Allegro Aggressive Portfolio
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Allegro Aggressive Canada Focus Portfolio
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Allegro Aggressive Portfolio
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In relation to the mergers, the firm seeks to make continuing Allegro portfolio funds more responsive to market changes by allowing them to invest in fixed income, equity, and other asset classes. The changes are expected to take place on or about Sep. 6. In anticipation of the changes, the following funds will be renamed as of July 14:
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Fund
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Fund name as of July 14
|
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Allegro Conservative Portfolio
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Allegro Income Portfolio
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Allegro Moderate Conservative Portfolio
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Allegro Income Balanced Portfolio
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Allegro Moderate Portfolio
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Allegro Balanced Portfolio
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Allegro Moderate Aggressive Portfolio
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Allegro Balanced Growth Portfolio
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|
Allegro Aggressive Portfolio
|
Allegro Growth Portfolio
|
Specific corporate-class funds — including the IG Franklin Bissett Canadian Equity Class, the Investors International Equity Class, and the Investors Pan Asian Equity Class — are also being changed so they can invest in corresponding unit trust fund versions. These changes, which are to take place on or about Sep. 8, are anticipated to result in more efficient portfolio management and reduced trading costs.
The objectives for the Allegro Balanced Growth Canada Focus Portfolio Class and Allegro Growth Canada Focus Class funds will also be changed, effective on or about Sep. 6, to increase their geographic diversification. At the same date, they will be renamed as the Allegro Balanced Growth Portfolio Class II and the Allegro Growth Portfolio Class II, respectively.
Finally, several funds will be undergoing fee reductions between 0.25 and 8.6 basis points on an annualized basis as of Sep. 1. The funds affected include selected Allegro funds, the IG Templeton International Equity Class, and the Investors Greater China Class.
The types of fees impacted — which include management, service, administration, and trustee fees — vary for the different funds.
For more of Wealth Professional's latest industry news, click here.
Related stories:
Canoe Financial proposes fund mergers
Fund mergers announced at NEI
