Securityholders have approved certain mergers involving Investors Capital Yield Class and Investors Short Term Capital Yield Class and an investment objective change for the Investors Managed Yield Class, Winnipeg-based Investors Group Inc. said Tuesday.
The following Investors Group mergers were approved yesterday by securityholders and will proceed:
- Investors Capital Yield Class – Series A, B, Jdsc, Jnl into Investors Canadian Bond Fund – Series A, B, Jdsc, Jnl;
- Investors Capital Yield Class – Series Tdsc into Investors Canadian Bond Fund – Series A
- Investors Capital Yield Class – Series Tnl into Investors Canadian Bond Fund – Series B
- Investors Capital Yield Class – Series I into iProfile Fixed Income Pool – Series I
- Investors Capital Yield Class – Series TJdsc into Investors Canadian Bond Fund– Series Jdsc
- Investors Short Term Capital Yield Class – Series A, B, Jdsc, Jnl into Investors Mortgage & Short Term Income Fund – Series A, B, Jdsc, Jnl
- Investors Short Term Capital Yield Class – Series Tdsc into Investors Mortgage & Short Term Income Fund – Series A
- Investors Short Term Capital Yield Class – Series Tnl into Investors Mortgage & Short Term Income Fund – Series B
The approved mergers are expected to occur after the close of business on May 15.
The initial meetings for the mergers of Investors Capital Yield Class – Series TJnl, Investors Short Term Capital Yield Class – Series TJdsc, and Investors Short Term Capital Yield Class – Series TJnl did not achieve quorum and were adjourned to April 29.
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. The renamed fund 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 May 1.