Investors Group Inc. said Thursday announced its intent to terminate two non-retail funds, Investors Group Income Fund and Investors Group Short Term Income Fund.
These funds were created specifically to facilitate investment objectives and strategies that utilize forward sale transactions for two classes: Investors Capital Yield Class (for Investors Group Income Fund) and Investors Short Term Capital Yield Class (for Investors Group Short Term Income Fund).
Investors Group recently announced changes to the investment objectives and strategies of the classes to remove reference to the use of certain types of forward sale transactions in response to amendments to Canada’s Income Tax Act, which eliminated the tax-related benefits associated with these transactions.
As the funds will no longer be required they will be terminated on September 23.