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April 25, 2012 /PRNewswire/ - Investors Group has announced two proposed fund mergers.
Investors Group intends to merge its IG FI International Equity Fund and Class into the corresponding IG Templeton International Equity Fund and Class, respectively, pending regulatory and required securityholder approvals. This is expected to provide investors in the merging funds with the benefit of a larger asset base for more effective portfolio management, which in turn will provide the potential for more stable and improved performance. These mergers will also result in a reduction of the annual management fee on the assets of the Merging Fund and Class.
These mergers are expected to take effect on or about the close of business on
June 22, 2012, subject to the required approvals.
Both mergers have been reviewed by the IG Funds Independent Review Committee which has determined that the mergers achieve a fair and reasonable result for the funds.
Securityholders of record (as of
May 4, 2012) holding units of IG FI International Equity Fund and shares of IG FI International Equity Class, as well as those holding shares of IG Templeton International Equity Class, will receive a Fund Facts, Notice of Meeting, Proxy and a Management Information Circular detailing the changes and will be asked to approve the mergers involving their mutual funds at meetings scheduled in
June 18, 2012.
Persons who become registered securityholders of any of these funds after the Record Date may request to receive the meeting materials and vote at the Meeting of their fund by contacting the Manager at least 10 days prior to the Meeting. The costs associated with these mergers will be borne by Investors Group.