IG Wealth Management has introduced a new private investment mandate to be included in the iProfile Canadian Equity Private Pool for its mass affluent and high-net-worth clients. As part of the new mandate, the firm also says it has committed to a new growth fund being launched by Northleaf Capital Partners.
The introduction of the private investment mandate allows managers to include privately held companies within its asset mix. “IG has also announced an initial corresponding private equity investment by the pool under the mandate, in a new growth fund that targets technology and health care,” the firm states in an announcement about the changes. “We expect our clients to benefit from Northleaf’s proven network and track record in its venture capital and growth equity platform.”
The iProfile Canadian Equity Pool, a medium volatility fund, requires an initial investment of $250,000 to participate. Each mandate in the fund is separately managed, including the Canadian large cap value and growth mandates, core equity and private investments. Annual fund expenses including the combined management expense and trading expense ratios are 0.7 per cent and 0.69 per cent, depending on the series purchased.