No-load series added for property fund

No-load series added for property fund

No-load series added for property fund Investors Group has announced that it is adding a no-load series to its Investors Real Property Fund. This comes after its previous announcement that it would discontinue the deferred sales charge (DSC) series for its mutual funds after Dec. 31.

New no-load Series B and Series J offerings will be added to the fund; a no-load purchase option will also be opened for the Series C offering. The no-load series will be priced in alignment with existing pricing for the fund’s DSC series.

Given the relatively illiquid nature of real property compared to other types of securities, the fund is designed for investors with a long-term investment horizon. In the interest of protecting unitholders, a liquidity fee of up to 2% of the net asset value of no-load purchase option series units may be charged upon redemption, should the units be redeemed less than 18 months (548 days) from the date of their initial acquisition.

The changes are expected to take effect on or around Jan. 16, pending regulatory approval.

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