Investors Group Inc. announced Wednesday that unitholders have approved changes in the investment strategies for seven of its funds.

The changes include altering the mix of the underlying funds in each of the seven 1World Portfolios to help better diversify their investments.

In a statement, Investors Group said the changes are expected to enhance the expected return of each portfolio, relative to its level of expected volatility. The changes, effective October 1st, do not affect the investment objective of any of the Portfolios.

In addition, unitholders approved making each portfolio responsible for payment of an annual distribution fee of 15 basis points. Combined with the reduction in management expense fees for 19 Investors Group sub-advised funds announced last week, these changes are expected to be cost neutral and, in some cases, will result in lower management expense ratios for some of the portfolios.

The names of the 1World Portfolios have also been changed. Effective August 1, 2003, they became known as the “Allegro Portfolios.”