IG Wealth Management is reducing fees and changing the names and risk ratings of several funds, the Winnipeg-based firm said Monday.
The strategy changes include the IG Mackenzie Dividend Growth Fund focusing more on capital appreciation and no longer seeking an above-average yield target, a release from the firm said.
The IG Mackenzie Canadian High Yield Fund will now be called the IG Mackenzie High Yield Fixed Income Fund after eliminating geographic restrictions to focus more on U.S. high-yield bond issuers.
The asset manager is reducing fees on more than a dozen Canadian equity funds by 0.05%, and it’s adding Toronto-based subsidiary Mackenzie Financial Corp. as the subadvisor of its investors portfolios.
The changes are effective on Monday. Find the whole list of funds affected here.