Investors Group Inc. on Tuesday announced portfolio management and name changes for three funds.

The changes, which are related to changes at Mackenzie Financial Corp. include the appointment of an award winning investment manager from Mackenzie and U.S. equity leader Waddell & Reed as new portfolio managers of the funds.

“The new managers offer a high level of investment management expertise that is widely recognized across the financial services industry in Canada and the United States,” said John Wiltshire, senior vice president, Product and Financial Planning.

Mackenzie senior vice oesident Ian Ainsworth will assume portfolio management duties for the Janus Global Equity Fund. It is expected that he will assume his portfolio management responsibilities on August 1.

Waddell & Reed senior vice presidents Phil Sanders and Dan Becker will be co-portfolio managers of the Janus American Equity Fund and the IG Janus American Equity Class of Investors Group Corporate Class Inc.

Coincident with the new advisor appointments, there will be a reduction of the management fees payable by each fund of 0.25% to 2.25%, effective August 1.

The changes arise in conjunction with the announcement today that the funds have served a notice to terminate their investment advisory arrangements with Janus Capital Management LLC.

Unitholders of the funds will be contacted regarding the changes in the coming weeks. It is expected that the change to the new portfolio managers will occur on August 1, at which time Janus Global Equity Fund will be re-named the Mackenzie Universal Global Future Fund; Janus American Equity Fund will be re-named Mackenzie Universal U.S. Large Cap Growth Fund; and IG Janus American Equity Class will be re-named the IG Mackenzie Universal U.S. Large Cap Growth Class, respectively.

These changes do not involve any changes to the investment objectives or fundamental strategies of these funds, and are subject to regulatory approval as necessary. I.G. Investment Management, Ltd. continues as the overall Manager of the IG Class Units of the Janus American Equity and Global Equity Funds, and for the IG Janus American Equity Class.