WINNIPEG, April 21, 2015 /CNW/ - At meetings held yesterday, securityholders approved certain mergers involving Investors Capital Yield Class1 and Investors Short Term Capital Yield Class1 and an investment objective change for the Investors Managed Yield Class1. Meetings for three mergers did not achieve quorum as indicated below.
Fund merger vote results
The following Investors Group mergers were approved by securityholders and will proceed:
| Merging Fund/Series |
Continuing Fund/Series |
|
| Investors Capital Yield Class – Series A, B, Jdsc, Jnl |
To merge into |
Investors Canadian Bond Fund – Series A, B, Jdsc, Jnl |
| Investors Capital Yield Class – Series Tdsc |
To merge into |
Investors Canadian Bond Fund – Series A |
| Investors Capital Yield Class – Series Tnl |
To merge into |
Investors Canadian Bond Fund – Series B |
| Investors Capital Yield Class – Series I |
To merge into |
iProfile™ Fixed Income Pool – Series I |
| Investors Capital Yield Class – Series TJdsc |
To merge into |
Investors Canadian Bond Fund– Series Jdsc |
| Investors Short Term Capital Yield Class – Series A, B, Jdsc, Jnl |
To merge into |
Investors Mortgage & Short Term Income Fund – Series A, B, Jdsc, Jnl |
| Investors Short Term Capital Yield Class – Series Tdsc |
To merge into |
Investors Mortgage & Short Term Income Fund – Series A |
| Investors Short Term Capital Yield Class – Series Tnl |
To merge into |
Investors Mortgage & Short Term Income Fund – Series B |
The initial meetings for the following Investors Group mergers did not achieve quorum and were adjourned to 10 a.m. CDT on April 29, 2015, at 447 Portage Avenue, Winnipeg, Manitoba.
| Merging Fund/Series |
Continuing Fund/Series |
|
| Investors Capital Yield Class – Series TJnl |
To merge into |
Investors Canadian Bond Fund – Series Jnl |
| Investors Short Term Capital Yield Class – Series TJdsc |
To merge into |
Investors Mortgage & Short Term Income Fund – Series Jdsc |
| Investors Short Term Capital Yield Class – Series TJnl |
To merge into |
Investors Mortgage & Short Term Income Fund – Series Jnl |
The approved mergers are expected to occur after the close of business on May 15, 2015.
Merger benefits
The approved mergers are expected to provide securityholders of the merging funds with the potential for more efficient investment management due to a larger asset base, and generally more comprehensive investment mandates that may result in enhanced diversification and greater portfolio management opportunities. Overall, it is expected that these elements taken together will result in the potential for improved long-term performance in larger continuing funds.
Investment objective change
Approved in a separate meeting yesterday was the investment objective change of Investors Managed Yield Class from a specialty fund to a money market fund. The name of the fund will change to Investors Canadian Money Market Class. Investors Canadian Money Market Class aims to provide a stable current return through exposure to Canadian money market securities by investing in other money market mutual fund(s) and/or directly in money market securities.
The objective change is expected to take effect on or about May 1, 2015.
This is not a solicitation to purchase securities of these funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual funds investments. Please read the prospectus of the mutual funds, including mutual funds in which investment may be made under the iProfile Managed Asset Program (if applicable) before investing. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated. These funds are distributed across Canada by Investors Group Financial Services Inc., (in Quebec, a financial services firm) and Investors Group Securities Inc. (in Quebec, a firm in financial planning).
Investors Group, founded in 1926, is a national leader in delivering personalized financial solutions to Canadians through a network of over 5,100 Consultants located throughout Canada. In addition to an exclusive family of mutual funds and other investment vehicles, Investors Group offers a wide range of insurance, securities, mortgage and other financial services. Investors Group is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $148 billion in total assets under management as of March 31, 2015.
1 This mutual fund is a class of securities issued by Investors Group Corporate Class Inc.TM
TMThis trademark is owned by IGM financial Inc. and licensed to its subsidiary corporations.
SOURCE Investors Group Inc.
Media contact: Ron Arnst, Media Relations, (204) 956-3364, [email protected]
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