Proposed changes aimed to improve performance and provide more value to customers
IG Wealth Management (IG) has proposed adjustments to selected offerings within its investment lineup.
As of the close of business on or about May 20, the firm is proposing to merge the IG Mackenzie Quebec Enterprise Fund into the IG Mackenzie Canadian Equity Fund. In addition, the IG Mackenzie Quebec Enterprise Class will be updated to invest into the IG Mackenzie Canadian Equity Fund, which will be renamed the IG Mackenzie Canadian Equity Class.
With the changes proposed for the IG Mackenzie Quebec Enterprise Fund and Class, clients are expected to benefit from greater portfolio management and diversification opportunities, as the mandates’ investable universe will be expanded beyond Quebec to anywhere in Canada. The changes are also expected to potentially improve long-term performance while maintaining similar risk levels and staying within the same CIFSC Canadian Equity Fund category.
Securityholders of record as of March 23 will be asked to approve changes with respect to their fund or class at a virtual meeting to be held on May 17.
Additionally, in advance of the fund merger, the firm said the annual management fee rate for IG Mackenzie Canadian Equity Fund will be decreased on or about May 18:
|
Series |
Existing Management Fee |
New Management Fee |
|
Series A and Series B |
1.85% |
1.70% |
|
Series C |
2.00% |
1.85% |
|
Series JDSC and Series JNL |
1.60% |
1.45% |
|
Series U |
0.75% |
0.60% |
IG has also transferred sub-advisory responsibility over the iProfile Canadian Equity Private Pool and the iProfile Canadian Equity Private Class's Large Cap Value mandate from Jarislowsky, Fraser Limited to Mackenzie Financial Corporation.
