(April 28 – 9:15 ET) – Investors Group Inc. is planning to develop a series of mutual funds with Fidelity Investments Canada Ltd.

Fidelity will act as advisor on the new co-branded funds, which will cover several asset classes. The new IG Fidelity mutual funds will be available this summer, pending regulatory approval.

This deal with Fidelity comes on the heels of IG’s successful co-branding with AGF Management Ltd. IG has been actively pushing into what amounts to distribution of third-party funds to help stem the slower growth in the firm’s own core funds. IG’s product shelf currently includes 50 Investors Master Series funds and 24 co-branded funds, sub-advised by seven other leading investment managers. As of March 31, mutual fund assets totalled more than $43 billion, including almost $5 billion in co-branded funds.

“We selected Fidelity Investments for their global network and research-intensive investment process,” said John Wiltshire, vice-president, product & service marketing, at IG. “These new growth-oriented funds will complement our line-up of investment options and management styles.”
-IE Staff