Canadians who are US taxpayers or who seek a well-diversified portfolio for their US funds can benefit from the product suites
IG Wealth management has introduced two new US investment-oriented product suites for Canadian investors.
The IG U.S. Taxpayer Portfolios provide investors with a comprehensive investment solution that assists Canadian citizens who pay taxes in the United States in simplifying tax filing. Meanwhile, the IG Mackenzie U.S. Dollar Funds is for those looking to invest in US dollars.
"We're dedicated to continually evolving our product offering to meet the needs of our clients," said Jon Kilfoyle, SVP of Product Development and Management at IG Wealth Management. "The new Funds will provide clients with comprehensive diversification for their U.S. dollars and the new Portfolios have been designed to help simplify a tax reporting process that is typically complicated and costly."
The IG U.S. Taxpayer Portfolios are a solution created for U.S. taxpayers who live and invest in Canada.
Each of these Canadian denominated portfolios, which are sub-advised by BlackRock Asset Management, is expected to limit annual client Internal Revenue Service (IRS) reporting to a single passive foreign investment company (PFIC), reducing the significant time and costs associated with a portfolio with multiple PFIC investments.
The following Portfolios are now available for purchase:
- IG U.S. Taxpayer Portfolio - Global Fixed Income Balanced
- IG U.S. Taxpayer Portfolio - Global Neutral Balanced
- IG U.S. Taxpayer Portfolio - Global Equity Balanced
- IG U.S. Taxpayer Portfolio - Global Equity
On the other hand, the new IG Mackenzie U.S. Dollar Funds are sub-advised by Mackenzie Investments asset managers, and provide alternatives for investors that hold US dollars or have US dollar wealth goals. IG touted those U.S. dollar-denominated options as the simplest and most efficient way for Canadian investors to invest in US cash.
The following funds are now available to buy:
- IG Mackenzie U.S. Dollar Fund - Global Fixed Income Balanced
- IG Mackenzie U.S. Dollar Fund - Global Neutral Balanced
- IG Mackenzie U.S. Dollar Fund - Global Equity Balanced
- IG Mackenzie U.S. Dollar Fund - Global Equity
"We're pleased to be able to collaborate with industry leading investment managers at Mackenzie and BlackRock to deliver these suites of diversified investment solutions that will offer Canadians new and innovative ways to meet their financial goals,” Kilfoyle added.