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Investors Group adds two Canadian equity funds

Winnipeg, MB – April 28, 2006: Investors Group is adding two funds with a growth investment style focus to its product offering. I.G. Investment Management, Ltd. will provide day-to-day investment advisory services for the new Investors Canadian Growth Fund, and the new IG Mackenzie Maxxum Canadian Equity Growth Fund will be advised by Mackenzie Financial Corporation. These funds are expected to be available for investment in mid-summer, subject to regulatory approval. These new fund additions head a list of several enhancements being announced today.

Both new funds will invest primarily in growth-oriented Canadian companies and will be guided by Portfolio Managers who have experience and expertise in overseeing growth funds. These new offerings enhance Investors Group's investment management expertise in Canadian equities and serve to broaden our lineup of Canadian growth funds.

“The addition of two new growth style funds reflects our commitment to meet the diverse investment needs of our clients,” said John Wiltshire, Senior Vice-President, Product and Financial Planning for Investors Group.

Additionally, the new funds will be added to a select number of Investors Group's Alto™ and Allegro™ portfolio funds to replace Investors Summa™ Fund and IG Mackenzie Select Managers Canada Fund, respectively. Both Investors Summa Fund and IG Mackenzie Select Managers Canada Fund will continue to be offered on a stand-alone basis. Notices will be sent shortly to unitholders of the affected portfolios. These changes are also expected to be made in mid-summer, subject to regulatory approval.

Other Fund Changes

  • Investors Group will be changing the name of Investors Mortgage Fund to Investors Mortgage and Short Term Income Fund. In order to enhance the fund's ability to generate investment income for unitholders, Investors Group intends to broaden the fund's mandate by reducing its mortgage content and increasing investments in fixed-term and liquid debt securities. A unitholder meeting is scheduled for June 15, 2006 to approve the investment strategy changes.
  • Coincident with this change, the fee structure of the Fund is being revised, including a reduction in the management fee, which is expected to result in a lowering of the Fund's Management Expense Ratio (MER) over time.
  • Given last year's elimination of the RSP foreign content limit, Investors Group intends to merge both its IG AGF International Bond Fund and IG Templeton World Bond Fund into Investors Global Bond Fund. The IG AGF International Bond Fund and the IG Templeton World Bond Fund were specifically structured to meet foreign content rules, which are no longer in effect. The merger of these funds will effectively combine three funds with similar or identical investment objectives and strategies. These changes are expected to lead to improved diversification and performance. Unitholder meetings to approve the mergers are also scheduled for June 15, 2006.
  • Investors Group's new Investors Global Dividend Fund will be added to the asset mix of two portfolio funds, the Alto Monthly Income and Growth Portfolio and the Alto Monthly Income and Enhanced Growth Portfolio.
  • I.G. Investment Management, Ltd. will assume day-to-day investment management of Investors Tactical Asset Allocation Fund to take advantage of the firm's expertise in quantitative modeling and management of derivative structures. Investors Group will decrease the fund's annual management fee by 0.05% to 2.20% upon refiling of its prospectus.

Unitholders of record (as of April 26, 2006 ) holding units of Investors Mortgage Fund, and IG AGF International Bond Fund and IG Templeton World Bond Fund, respectively, will receive a Notice of Meeting, Proxy and Management Information Circular detailing the changes affecting their funds . All referenced changes are expected to become effective this summer, subject to regulatory approvals where necessary.

Investors Group, founded in 1926, is a national leader in delivering personalized financial solutions to Canadians through a network of over 3,600 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 banking 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 over $107 billion in total assets under management.

A preliminary simplified prospectus relating to the two new funds is expected to be filed shortly with the Canadian securities commissions or similar authorities. You cannot buy units of the new funds until the relevant securities commissions or similar authorities issue receipts for the simplified prospectus of those funds. This is not a solicitation to purchase units of the new funds.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual funds investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The Funds are distributed across Canada by Investors Group Financial Services Inc., (in Quebec, a financial services firm.)

For more information contact:
Ron Arnst
Media Relations
(204) 956-3364
ron.arnst@investorsgroup.com		 Laura Vallis
Environics Communications
(416) 969-2781
lvallis@environicspr.com