Investors Group announces changes to mutual funds impacted by the 2013 Federal Budget announcement WINNIPEG, April 16, 2013 /CNW/ - The 2013 federal budget proposed changes to Canadian tax laws that will impact the ability of investors to obtain tax-efficient exposure to a variety of investments. This proposal affects a number of investment funds across the industry, including the following Investors Group funds (the Funds): -- Investors Short Term Capital Yield Class -- Investors Capital Yield Class Until there is greater guidance from the federal government, the Funds will be closed to new lump sum investments, effective immediately. While the government has not yet provided full clarity on how it plans to implement the proposal, derivative transactions currently in place on the Funds prior to March 21, 2013, are expected to remain tax-efficient until their expiration dates. It is important to note that even with this proposed legislation, the fundamental benefits of mutual fund corporations remain, including tax-deferred switching and re-balancing. Investors Group will continue to monitor and assess this budget proposal and its potential impact. Investors Group, founded in 1926, is a national leader in delivering personalized financial solutions to Canadians through a network of approximately 4,500 Consultants located throughout Canada. In addition to an exclusive family of mutual funds and other investment vehicles, Investors Group offers a wide range of insurance, securities, mortgage and other financial services. Investors Group is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with approximately $126 billion in total assets under management as of March 31, 2013. Ron Arnst Investors Group (204) 956-3364 email@example.com SOURCE: Investors Group Inc. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2013/16/c5586.html CO: Investors Group Inc. ST: Manitoba NI: FIN FND FLOWS -0- Apr/16/2013 14:27 GMT
Investors Group announces changes to mutual funds impacted by the 2013 Federal Budget announcement
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