On July 7th, Investors Group security holders approved four fund mergers.
The Investors U.S. Equity Fund will be merged into the Investors Core U.S. Equity Fund. The Investors U.S. Equity Class Fund, which is issued by Investors Group Corporate Class Inc., will be folded into the Investors Core U.S. Equity Class Fund. The Investors Income Portfolio Fund will merge into the Investors Fixed Income Flex Portfolio Fund, and the IG Mackenzie U.S. Growth Class Fund will merge into the IG Putnam U.S. Growth Class Fund.
The mergers are expected to occur after the close of business on July 18, 2014.
Investors Group says that, in general, securityholders of the merging funds stand to benefit from the changes since the continuing funds' long-term performance may improve as a result.
"The continuing funds' larger asset base may provide greater portfolio management efficiency and/or a more comprehensive investment mandate with enhanced diversification, less volatility and greater portfolio management opportunities. In addition, these changes are expected to increase administration efficiency, including fee reductions in some cases," reads the statement published by Investors Group.