Investors Group reviews mutual funds changes due to Federal BudgetBy The IJ Staff | March 27 2017 09:45AM
Investors Group is reconsidering its proposed changes to mutual funds products such as fund mergers and strategy adjustments in light of the 2017 Federal Budget.
"Recently announced proposals will not proceed until we can review the implications of the 2017 Federal Budget," says Todd Asman, Executive Vice-President, Products and Financial Planning.
The Budget, announced on March 22, includes a provision allowing mutual fund corporations to merge into separate unit trusts on a tax-deferred basis. Investors Group will therefore be reviewing the proposed product changes to ensure they are tax efficient.
Securityholder meetings scheduled for May 18, 2017, at Investors Group's head office in Winnipeg will also not proceed.