IG Wealth Management announced on June 13 a number of changes to its mutual fund and iProfile offering.
These changes include management fee reductions on certain funds; risk rating changes to three funds and investment strategy changes to IG Core Portfolio Class – Growth and iProfile Pools.
Effective on or about June 30, 2019, the annual management fee rates for the following funds will be reduced, as indicated below:
|
Fund name |
Series |
Existing |
New |
|
IG Mackenzie Ivy European Fund |
A and B |
1.95% |
1.90% |
|
C |
2.00% |
1.95% |
|
|
JDSC and JNL |
1.70% |
1.65% |
|
|
U |
0.85% |
0.80% |
|
|
IG Mackenzie Ivy European Class IG Mackenzie Ivy European Class II IG Mackenzie Ivy European Class III |
A and B |
1.95% |
1.90% |
|
JDSC and JNL |
1.70% |
1.65% |
|
|
U |
0.85% |
0.80% |
|
|
IG Mackenzie Ivy Foreign Equity |
A and B |
2.00% |
1.90% |
|
JDSC and JNL |
1.75% |
1.65% |
|
|
U |
0.90% |
0.80% |
|
|
IG Mackenzie Global Precious |
A and B |
2.00% |
1.90% |
|
JDSC and JNL |
1.75% |
1.65% |
|
|
U |
0.90% |
0.80% |
The company also announced that effective immediately, the risk rating classifications of the following funds have changed, as indicated:
|
Fund |
Previous rating |
New |
|
Investors Global Financial Services Fund/Class |
High |
Medium to High |
|
Investors Global Dividend Fund |
Medium |
Low to Medium |
Effective on or about June 30, 2019, the investment strategies of IG Core Portfolio Class – Growth will be changed to expand the fund's ability to invest in or gain exposure to equity and/or other asset classes, including investing up to 100% of its assets in foreign securities, the company stated.
Meanwhile, effective on or about Oct. 21, 2019, the Trust Agreements for iProfile Pools will be amended “to, among other things, reflect a change in strategy which removes the predetermined mandate exposure. This will allow the iProfile Pools to actively shift their investments in the mandates without having to provide advance notice to their Securityholders,” said the company, adding that this change will result in each iProfile Pool “gaining added flexibility that may result in greater portfolio management opportunities, including the ability to respond more quickly to changing market conditions and efficiencies in the management of their portfolios.”
This change in strategy applies to the following iProfile Pools:
- iProfile Canadian Equity Pool
- iProfile U.S. Equity Pool
- iProfile International Equity Pool
- iProfile Fixed Income Pool
The change will also impact the iProfile Canadian Equity Class, iProfile U.S. Equity Class and iProfile International Equity Class that invest the iProfile Pools above.
In addition, effective on or about Oct. 21, 2019, the iProfile International Equity Pool will add a new International Small Cap mandate which intends to provide exposure to common shares of small capitalization corporations outside of Canada and the U.S.
