IG Wealth Management Launches New Portfolios to Help Clients Save for Post-Secondary Education
New IG Target Education Portfolios are a suite of professionally managed and diversified portfolio solutions for RESP accounts.
WINNIPEG, MB – January 30, 2023: IG Wealth Management (IG) today announced the launch of IG Target Education Portfolios (the Portfolios), professionally managed, target-date solutions designed to provide an efficient and prudent approach to planning for a child’s post-secondary education.
IG Target Education Portfolios will invest in an asset mix that automatically evolves based on when a child is expected to begin their post-secondary studies, shifting from a focus on maximizing growth in the early years to keep up with the rising costs of education to a focus on income and capital preservation as the target education date approaches.
“As the costs of post-secondary studies continue to rise, it’s becoming more and more important to start investing early to ensure you’re in a position to help your child go to college or university,” said Damon Murchison, President and CEO, IG Wealth Management. “These new Portfolios are designed to remove the guess work when it comes to funding post-secondary education. They automatically adjust over time; this helps ensure that investors will have the money they need when it comes time to start paying for post-secondary education.”
The IG Target Education Portfolio 2030, 2035 and 2040 are sub-advised by BlackRock Asset Management Canada Limited, part of BlackRock Inc., the world’s largest asset manager and a global leader in education plans. The Portfolios will be diversified across geography, asset class and company size and will be continuously monitored and actively managed to take advantage of opportunities and managing risk through different market conditions.
Once the portfolios reach their target date, they will transition into the IG Graduation Portfolio, which will hold more secure investments to produce income and preserve capital. This portfolio is sub-advised by Mackenzie Investments, and it is from this portfolio that investors will withdraw the funds needed to pay for post-secondary education expenses.
The Portfolios are designed to work in Registered Education Savings Plan (RESP) accounts, which provide the benefits of the Canadian Education Savings Grant, tax-free growth and tax efficient education funding not available through traditional savings accounts.
“Ensuring that a child has the necessary resources to access higher education is more important than ever, and the IG Target Education Portfolios offer a smart and simplified way to ease the financial burden while empowering a child with the learning opportunities that will benefit them in their careers, and throughout their lives,” concluded Mr. Murchison.
This is not a solicitation to purchase securities of these funds. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus of the mutual funds before investing. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated. These funds are distributed across Canada by Investors Group Financial Services Inc., (in Quebec, a financial services firm) and Investors Group Securities Inc. (in Quebec, a firm in financial planning).
About IG Wealth Management
Founded in 1926, IG Wealth Management is a national leader in delivering personalized financial solutions to Canadians through a network of advisors located across Canada. In addition to an exclusive family of mutual funds and other investment vehicles, IG offers a wide range of other financial services. IG Wealth Management has $110.8 billion in assets under advisement as of December 31, 2022, and is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's leading diversified wealth and asset management companies with approximately $249 billion in total assets under management and advisement as of December 31, 2022.
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