IG Wealth Management to Wind Up Corporate Class Mutual Funds

By Adriano Marchese

IG Wealth Management said Thursday that it intends to wind-up its Investors Group Corporate Class Inc. business and merge each fund into a trust fund.

The IGM Financial Inc. financial solutions subsidiary said that it would merge its suite of corporate class mutual funds into its corresponding trust fund equivalent, on a tax-deferred basis.

IG Wealth cites changes to tax legislation and evolving market trends which have eliminated a number of benefits that were previously available to corporate class funds.

The mergers are expected to take place on or around mid-May.

Write to Adriano Marchese at adriano.marchese@wsj.com