BlackRock Canada and IG Wealth Management adjust risk ratings and rename certain mutual fund and ETF offerings
BlackRock Canada and IG Wealth Management have announced a number of updates to their respective ETF and mutual fund offerings, including risk rating changes and new names.
Following a standardized risk classification methodology, BlackRock Canada has updated the risk ratings to the following iShares ETFs:
|
iShares ETF Name |
Previous Risk Rating |
Updated Risk Rating |
|
iShares MSCI World Index ETF |
Medium |
Low to Medium |
|
iShares Core MSCI All Country World ex Canada Index ETF (applies only to CAD units) |
Medium |
Low to Medium |
|
iShares MSCI Min Vol USA Index ETF (applies only to USD units) |
Medium |
Low to Medium |
|
iShares Core S&P 500 Index ETF (applies only to CAD units) |
Medium |
Low to Medium |
|
iShares Global Water Index ETF |
Medium |
Low to Medium |
|
iShares MSCI Min Vol Emerging Markets Index ETF |
Medium |
Low to Medium |
|
iShares U.S. High Dividend Equity Index ETF |
Low to Medium |
Medium |
|
iShares S&P/TSX Canadian Preferred Share Index ETF |
Low to Medium |
Medium |
|
iShares S&P/TSX SmallCap Index ETF |
Medium to High |
High |
The firm has also made changes to the following iShares ETFs:
|
Former iShares ETF Name |
New iShares ETF Name |
|
iShares Canadian Corporate Bond Index ETF |
iShares Core Canadian Corporate Bond Index ETF |
|
iShares Canadian Government Bond Index ETF |
iShares Core Canadian Government Bond Index ETF |
|
iShares ESG Canadian Aggregate Bond Index ETF |
iShares ESG Aware Canadian Aggregate Bond Index ETF |
|
iShares ESG Canadian Short Term Bond Index ETF |
iShares ESG Aware Canadian Short Term Bond Index ETF |
Meanwhile, IG Wealth Management has also announced reduced management fee rates for certain mutual funds and series:
|
Fund Name |
Series |
Existing Management fee |
New Management fee |
|
- IG Beutel Goodman Canadian Small Cap Fund |
C |
2.00% |
1.95% |
|
JDSC and JNL |
1.75% |
1.70% |
|
|
U |
0.90% |
0.85% |
|
|
- IG Mackenzie Canadian Small/Mid Cap Class |
A and B |
2.00% |
1.95% |
|
- IG Mackenzie Canadian Small/Mid Cap Class II |
JDSC and JNL |
1.75% |
1.70% |
|
U |
0.90% |
0.85% |
|
|
- IG Mackenzie Canadian Small/Mid Cap Fund |
A and B |
2.00% |
1.95% |
|
C |
2.00% |
1.95% |
|
|
JDSC and JNL |
1.75% |
1.70% |
|
|
U |
0.90% |
0.85% |
|
|
- IG FI Canadian Equity Fund |
A and B |
1.75% |
1.70% |
|
C |
1.90% |
1.85% |
|
|
JDSC and JNL |
1.50% |
1.45% |
|
|
U |
0.65% |
0.60% |
|
|
- IG FI Canadian Equity Class |
A and B |
1.75% |
1.70% |
|
JDSC and JNL |
1.50% |
1.45% |
|
|
U |
0.65% |
0.60% |
IG Wealth Management has also updated the investment strategy for IG Mackenzie Dividend Fund and Class by deleting references to the fund measuring its income yield relative to specific indices.
To let the fund and class be more flexible and consider short-term economic and market expectations, and to prudently maximize clients’ total return during these periods across current income, dividends, and capital appreciation, the fund will measure its income yield over the long term in comparison to other mutual funds in its peer group.
Similarly, the IG Mackenzie Dividend Growth Fund’s strategy has been changed to remove the reference to seeking an above-average yield target, enabling it to focus more on capital appreciation and less on current income.
Meanwhile, the IG Mackenzie Canadian High Yield Fund has seen its strategy change to remove geographic restrictions. By eliminating its Canadian focus, the fund is able to access and explore the U.S. market of high-yield bond issuers, which is much broader and deeper than in Canada. In connection with this, the fund will be renamed IG Mackenzie High Yield Fixed Income Fund.
Finally, Mackenzie Investments has been appointed as the sub-advisor of the Investors Income Plus Portfolio, Investors Growth Portfolio, Investors Growth Plus Portfolio, Investors Retirement Growth Portfolio, and Investors Retirement Plus Portfolio. The portfolios will be managed by Mackenzie’s multi-assets strategies team.
