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Investors Group announces fund merger

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Investors Group has announced the proposed merger of iProfile Money Market Pool – Series I (merging fund) into Investors Canadian Money Market Class (currently known as Investors Managed Yield Class1) – Series I (continuing Class). 

The proposed merger is expected to take effect on or about the close of business June 26, 2015, subject to any necessary securityholder and regulatory approvals.

Generally, the proposed merger is expected to benefit the securityholders of the merging fund as the merging fund is being merged into a substantially larger continuing Class, providing the potential for efficiencies in the management of its investment portfolio and the elimination of certain duplicate fund expenses.

The proposed merger has been reviewed by the Investors Group Funds Independent Review Committee (IRC), which has determined that it achieves a fair and reasonable result for the funds.

Securityholders of the merging fund will be asked to approve the proposed merger at a special meeting scheduled to be held June 23, 2015, in Winnipeg.  Registered owners of the merging fund, as at the record date (May 19, 2015), will receive a Notice of Meeting, Proxy and a Management Information Circular detailing the proposed merger. 

The proposed merger is not considered to be material for the continuing Class. Accordingly, a special meeting is not being convened for the continuing Class to approve the proposed merger. 

Persons who become registered securityholders of the terminating fund after the record date (19 May, 2015) may request to receive the meeting materials and vote at the meeting by contacting the manager at least 10 days in advance of the meeting of the merging fund. The costs associated with the proposed merger will be borne by Investors Group.

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