Mutual Fund Units for Series U of

IG BlackRock International Equity Fund

Simplified ProspectusJanuary 6, 2020

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Simplified Prospectus Offering Mutual Fund Unitsi For Series U ofIG BlackRock International Equity FundJanuary 6, 2020

(i) SeriesUUnitsareofferedforpurchaseonaNo-Loadbasis.SwitchesintoSeriesUfromtheDSCpurchaseoptioninotherIGWealthManagementFundsareallowed,buttheredemptionfeeschedulewillcontinuetoapplytotheseinvestments.

NosecuritiesregulatoryauthorityhasexpressedanopinionaboutthismutualfundUnitanditisanoffencetoclaimotherwise.Neitherthemutualfundsecuritiesdescribedinthisdocument,northisFund,areregisteredwiththeU.S.SecuritiesandExchangeCommission.ThesecuritiesarebeingofferedonlyinCanadaunlessotherwisepermitted.AdditionalSeriesmaybecomeavailableafterthedatewithoutnotice.ThisFundisalsoauthorizedtoissueNon-retailSerieswhicharenotofferedunderthisdocument.

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General information about the Fund. . . . . . . . . . . . . . . . . . 3Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

What is a mutual fund and what are the risks of investing in a mutual fund? . . . . . . . . . . . . . 3

Whatisamutualfund?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Whataretherisksofinvestinginamutualfund? . . . . . . . . 3

Organization and management of the Fund. . . . . . . . . . . 9Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Manager,RegistrarandPromoter....................... 9PortfolioAdvisor(s). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9PrincipalDistributors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Custodian. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9SecuritiesLendingAgent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Auditor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9InvestorsGroupFunds IndependentReviewCommittee. . . . . . . . . . . . . . . . . . . . . . 9

Purchases, switches and redemptions. . . . . . . . . . . . . . . . 10BuyingUnitsoftheFund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Purchaseoptions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Series U Units......................................... 11Minimuminitialinvestment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 11SellingUnitsoftheFund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12SwitchingbetweenIGWealthManagementFunds. . . . . . . 12SwitchestoandfromInvestorsRealPropertyFund. . . . . . 13SwitchestoandfromSeriesC(orTc) . . . . . . . . . . . . . . . . . . . 13Short-termtrading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Optional services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14RegisteredPlans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Automaticregularinvestments byPre-AuthorizedContributions(PACs) . . . . . . . . . . . . . . . 14

Automaticregularredemptions. . . . . . . . . . . . . . . . . . . . . . . . 14Automaticswitching . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15AutomaticreinvestmentofDistributions. . . . . . . . . . . . . . . . 16IGWealthManagementCharitableGivingProgram . . . . . . 16

Fees and expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17FeesandexpensespaidbytheFund. . . . . . . . . . . . . . . . . . . . 17Feesandexpensespaidbyyou......................... 18Impactofsalescharges. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Dealer compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20PaymentstoyourConsultant. . . . . . . . . . . . . . . . . . . . . . . . . . 20Otherincentives. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Dealer compensation from management fees. . . . . . . . . 20

Income tax considerations for investors. . . . . . . . . . . . . . 20IfyouhaveaRegisteredPlan . . . . . . . . . . . . . . . . . . . . . . . . . . 20IfyouhaveaninvestmentoutsideaRegisteredPlan. . . . . 20DeductibilityofSeriesUAdvisoryFees. . . . . . . . . . . . . . . . . . 21

What are your legal rights?. . . . . . . . . . . . . . . . . . . . . . . . . . . 21

Specific information about the Fund. . . . . . . . . . . . . . . . . . 22

IG BlackRock International Equity Fund . . . . . . . . . . . . . . 28

Additional information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

Table of Contents

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IntroductionThisSimplifiedProspectus1containsselectedimportantinformationtohelpyoumakeaninformedinvestmentdecisionandtoassistyoutounderstandyourrightsasaninvestor.ItcontainsinformationaboutinvestingintheFundlistedonthecoverofthisSimplifiedProspectusandtherisksofinvestinginmutualfundsgenerally,aswellasthenamesofthefirmsresponsibleforthemanagementoftheFund.Itisdividedintotwoparts:

• ThefirstpartcontainsgeneralinformationthatappliestotheFund;

• ThesecondpartcontainsspecificinformationabouttheFund.

AdditionalinformationabouttheFundisavailableinthefollowingdocuments:

• theAnnualInformationForm;• themostrecentlyfiledFundFacts;

andwhentheybecomeavailable:

• themostrecentlyfiledannualfinancialstatements;• anyinterimfinancialstatementsoftheFundfiledaftertheannualfinancialstatementswerefiled;

• themostrecentlyfiledannualmanagementreportoffundperformance;and

• anyinterimmanagementreportoffundperformancefiledafterthatannualmanagementreportoffundperformance.

ThesedocumentsareincorporatedbyreferenceintothisSimplifiedProspectus,whichmeansthattheyarelegallypartofthisdocument,justasiftheywereprintedaspartofit.Youcangetacopyofthesedocuments,atyourrequest,atnocostby:

• writingtousat447PortageAvenue,Winnipeg,Manitoba,R3B3H5;

• callingustoll-free1-888-746-6344or,inQuebec,toll-free1-800-661-4578;

• askingyourIGConsultant;or• contactingusatcontact-e@investorsgroup.com(forserviceinEnglish)orcontact-f@investorsgroup.com(forserviceinFrench).

ThesedocumentsandotherinformationabouttheFundarealsoavailable:

• onourwebsiteatwww.investorsgroup.com;or

• atwww.sedar.com.

TheFundisavailableforpurchaseonlythroughInvestorsGroupFinancialServicesInc.andInvestorsGroupSecur-itiesInc.(the“PrincipalDistributors”).YougenerallycannotpurchasetheFundthroughanyotherdealers.

TheFundoffersatleastoneclassofUnitsforretaildistri-bution(called“Series”).AdditionalnewSeriesmayalsobeissuedatanytimeinthefuturewithoutpriornotice.TheFundmayalsoofferoneormoreNon-retailSeriesofUnitsthatareopenforinvestmentbyqualifiedinvestors,includingotherIGWealthManagementFunds.TheseNon-retailSeriesmayhavelowerfeesandexpensesandareintendedtoavoidtheduplicationoffeesandexpensespayablebythesequalifiedinvestors,andarenotavailableforpurchasebyretailinvestorsandarenotbeingofferedunderthisdocument.Also,theFundmayofferdifferentpurchaseoptionswithineachSeriesofUnits.

What is a mutual fund and what are the risks of investing in a mutual fund?What is a mutual fund?Amutualfundisaconvenientwayforpersonswithsimilarinvestmentgoalstocombinetheirmoney.Themutualfundusesthismoneytobuydifferenttypesofinvestmentsonbehalfofalloftheinvestors.Whenitbuysinvestments,itfollowsitsinvestmentobjectiveandinvestmentstrategies.Theinvestorsshareinanyprofitsthemutualfundmakesorlossesitsuffers.InformationabouttheinvestmentobjectivesandstrategiesoftheFundmaybefoundunderSpecific infor-mation about the FundlaterinthisSimplifiedProspectus.

What are the risks of investing in a mutual fund?Therearemanypotentialadvantagesofinvestinginmutualfunds,buttherearealsoseveralrisksyoushouldknowabout.

Investinginmutualfundsisnotlikeputtingyourmoneyinasavingsaccount.UnlikeasavingsaccountoraGuaranteedInvestmentCertificate(GIC),theCanadaDepositInsuranceCorporationoranyothergovernmentdepositinsurerdoesnotinsuretheunitsofmutualfunds.

Thevalueofamutualfundchangeseachdayasthevalueofitsinvestmentschange.Asaresult,whenyousellyourunitsofamutualfund,youmayreceivelessthantheamountyouinvestedwhenyouboughttheunits.Yourinvestmentisnotguaranteed.

General information about the Fund

1 InthisSimplifiedProspectus,you andyourmeanthepersonwhoinvestsinanIGWealthManagementFund.We, us, our andIG Wealth ManagementmeananyoneofInvestorsGroupInc.anditssubsidiaries,includingtheManager,PortfolioAdvisors,TrusteeorPrincipalDistributors,asappropriate.Referencesto“IGConsultant”or“Consultant”mean“IGRepresentative”inQuébec.

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Onemeasureoftheriskassociatedwithaninvestmentinmutualfundsisthedifferenceinreturnsfromyeartoyear(oftenreferredtoas“volatility”).

Whenreviewingthevolatilityofamutualfund,however,itisimportanttokeepinmindthatthelevelofvolatilityassoci-atedwithamutualfundmaymoderatetheoverallvolatilityriskassociatedwithyourwholeinvestmentportfolio,totheextentthatthevolatilityofaparticularmutualfundcouldoffsetthevolatilityofotherinvestmentsinyourportfolio.Consequently,amutualfundwithahighervolatilitymaystillbesuitableforaninvestorwithalowertoleranceforvolatilityinthecontextoftheiroverallinvestmentportfolio.InthespecificinformationsectionofthisSimplifiedProspectusweindicatetheinvestmentrisklevelthatappliestotheFundbasedonitspastperformanceand/oritsanticipatedvolatilityusingacomparablereferenceindexoranothermutualfundwithsimilarobjectives,strategiesandriskcharacteristics.

TheFundmayinvestfromtimetotimeinotherIGWealthManagementFunds(called“UnderlyingFunds”).TheUnder-lyingFundsinvestininvestments(likesharesandbonds)issuedbycompaniesandgovernmentsor,forinvestmentsinInvestorsRealPropertyFund,realestate(asapplicable).Theseinvestmentsfluctuateinvalue,whichaffectsthevalueofeachUnderlyingFundand,inturn,thevalueofaFundifitinvestsinthatUnderlyingFund.Accordingly,thecommoninvestmentrisksdiscussedhereapplytotheUnderlyingFundsinwhichaFundinvestsand,inturn,canalsoaffectthevalueofthatFund.

l CONCENTRATIONRISK

Amutualfundthathasheldalargeportionofitsnetassetsinanysingleissuermaybelessdiversifiedandmayexperi-encelargerfluctuationsinvaluethatresultfromthepricevolatilityofthatissuer.Inaddition,amutualfundmaynotbeabletosellitsfullinvestmentinthatissueratcurrentpricesifthereisashortageofbuyerswillingtopurchasethosesecurities.Consequently,itcouldbemoredifficultforthemutualfundtoobtainareasonablepriceforthatissuer’ssecurities.Thisriskmaynotnecessarilyapplywhereamutualfundinvestsinovernightdepositreceiptsornoteswhicharesometimesheldbyamutualfundasameanstoenhancetheyieldonitscash.

l CREDITRISK

Thisriskisassociatedwiththepossibilitythattheissueroffixedincomesecurities(includingaspecialpurposevehicle)maynotmakeinterestpaymentsasrequiredbythetermsoftheirsecuritiesorevenpaybackthemutualfund’soriginalinvestment.Thereisalsotheriskthatthevalueofdebtsecurities(especiallylower-rateddebtsecurities)mayfallifthemarketdeterminesthatahigherreturnisnecessary

tocompensatefortheincreasedriskofowningthosesecurities.Adowngradeinanissuer’screditratingorotheradversenewsabouttheissuercanalsoreducethevalueofitsfixedincomesecurities.Inaddition,thevalueofcertaininvestments(includingasset-backedandmortgage-backedsecurities)maybeinfluencedbythemarket’sperceptionofthecreditworthinessofthesesecurities,thepartiesinvolvedinstructuringtheinvestment,orintheunderlyingassetsthemselves.CreditriskmayalsoapplytosomeDerivatives.PleaseseeDerivatives riskbelow.

l CYBERSECURITYRISK

Duetothewidespreaduseoftechnologyinthecourseofbusiness,mutualfundshavebecomepotentiallymoresusceptibletooperationalrisksthroughbreachesincybersecurity.Cybersecurityistheriskofharm,loss,andliabilityresultingfromafailure,disruptionorbreachofanorgan-ization’sinformationtechnologysystems.Itreferstobothintentionalandunintentionaleventsthatmaycauseamutualfundtoloseproprietaryinformation,sufferdatacorruption,orloseoperationalcapacity,whichcouldcauseusand/oramutualfundtoexperiencedisruptionstobusinessoperations;reputationaldamage;difficultieswithamutualfund’sabilitytocalculateitsnetassetvalue;orincurregulatorypenalties,additionalcompliancecostsassociatedwithcorrectivemeasures,and/orfinancialloss.Cyberattacksmayinvolveunauthorizedaccesstoamutualfund’sdigitalinformationsystems(e.g.,through“hacking”ormalicioussoftwarecoding)forpurposesofmisappropri-atingassetsorsensitiveinformation,orcorruptingdata,equipmentorsystems.Othercyberattacksdonotrequireunauthorizedaccess,suchasdenialofserviceattacks(i.e.,effortstomakenetworkservicesunavailabletointendedusers).Inaddition,cyberattacksonamutualfund’sthird-partyserviceproviders(e.g.,administrators,transferagents,custodiansandsub-advisors)orissuersthatamutualfundinvestsincanalsosubjectamutualfundtomanyofthesamerisksassociatedwithdirectcyberattacks.Wecannotcontrolthecybersecurityplansandsystemsofthefunds’third-partyserviceproviders,theissuersofsecuritiesinwhichtheIGWealthManagementFundsinvestorotherswhoseoperationsmayaffecttheFundsortheirsecurity-holders.Wehaveestablishedriskmanagementsystemsdesignedtoreducetherisksassociatedwithcybersecurityandmaintaincyberinsurancecoverage.However,thereisnoguaranteethatsucheffortswillbesuccessful,andasaresult,theIGWealthManagementFundsandtheirsecurity-holderscouldbenegativelyaffected.

l DERIVATIVESRISK

Generally,allIGWealthManagementFunds(excepttheMoneyMarketFunds)mayuseDerivatives,butonlyin

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thewaysallowedbyCanadiansecuritiesregulators.Forexample,amutualfundmayuseDerivativesto:

• protectagainstlossescausedbychangesinthepricesofsecurities,stockmarkets,interestrates,currencyexchangeratesorotherrisks;

• serveasanalternativetoinvestinginactualsharesandbonds.Thiscanreducetransactioncosts,achievegreaterLiquidity,increaseordecreaseexposuretocertainfinancialmarkets,ormakeiteasiertoadjustamutualfund’sinvestments;

• reduceriskbyacceptingamorecertainlowerreturninsteadofalesscertainhigherreturn;

• effectivelyincreaseordecreasethematurityofbondsandotherfixedincomesecurities,ifany,inthemutualfund’sinvestments;

• positionthemutualfundsothatitmayprofitfromdecliningmarkets;and

• enhancereturns.

ThereisnoguaranteethattheuseofDerivativeswillbeeffective.Themostcommonrisksinclude:

• aDerivativemaynotalwaysproducethesameresultasithasinthepast;

• dependingonmarketconditionsorotherfactors,amutualfundmaynotbeabletobuyorsellaDerivativetomakeaprofitorlimitaloss;

• Derivativesdon’tpreventchangesinthemarketvalueoftheinvestmentsinamutualfund’sportfolioorpreventlossesifthemarketvalueoftheinvestmentsfalls;

• Derivativescanpreventthemutualfundfrommakingagainifthereisanunexpectedchangeincurrencyexchangerates,stockmarkets,orinterestrates;

• DerivativestradedonforeignmarketsmayhaveahigherriskofdefaultandmaybehardertosellthansimilarDerivativestradedonNorthAmericanmarkets;

• thereisnoguaranteethattheotherpartyinacontractwillmeetitsobligations;

• iftheotherpartyinacontractorthedealergoesbankrupt,themutualfundcouldloseanydepositandunpaidgainsonthecontract;and

• themutualfundmightnotbeabletopurchaseDerivativesifotherinvestorsareexpectingthesamechange,suchaschangesininterestrates,marketpricesorcurrencyexchangerates.

l DILUTIONRISK

Whenamutualfundisneworisrelativelysmallinsize,orhassignificantcashflowsrelativetoitssize,itmaybedifficultfortheportfoliomanagertofullyinvestitsassetspursuanttothemutualfund’sinvestmentstrategy.Thiscouldresultin

themutualfundholdingalargerthanexpectedproportionofitsassetsincash.Thiscoulddecreaserelativeperformanceofanymutualfundinarisingmarket.

l DISTRIBUTIONADJUSTMENTRISK

SomeIGWealthManagementFundsofferUnitsthatfeatureafixedmonthlyDistributiondeterminedasapercentageofthenetassetvalueperUnitasatDecember31stoftheprecedingyear.TheManagerwilldeterminetheDistribu-tionsforthedatetheFundisstarted,andthereafterattheendofeachcalendaryear.TheManagermayalsoresetthepercentagefortheseDistributionsduringtheyearifthisisdeemedappropriateandinthebestinterestsofoneormoreofthesefunds.IneithereventthiscouldresultinthepercentagefortheseDistributionsbeinglower(orhigher)thanatthetimeofyourinvestment.

l ETFRISK

Amutualfundmayinvestinanothermutualfundwhosesecuritiesarelistedfortradingonanexchange(an“exchange-tradedfund”or“ETF”).TheinvestmentsofETFsmayincludestocks,bonds,commoditiesandotherfinancialinstruments.SomeETFs,knownasindexparticipationunits(“IPUs”),attempttoreplicatetheperformanceofawidelyquotedmarketindex.NotallETFsareIPUs.WhileinvestmentinanETFgenerallypresentsthesamerisksasinvestmentinaconventionalmutualfundthathasthesameinvestmentobjectivesandstrategies,italsocarriesthefollowingadditionalrisks,whichdonotapplytoinvestmentinconventionalmutualfunds:

• TheperformanceofanETFmaybesignificantlydifferentfromtheperformanceoftheindex,assets,orfinancialmeasurethattheETFisseekingtotrack.Thereareseveralreasonsthatthismightoccur,includingthatETFsecuritiesmaytradeatapremiumoradiscounttotheirnetassetvalueorthatETFsmayemploycomplexstrategies,suchasleverage,makingtrackingwithaccuracydifficult.

• AnactivetradingmarketforETFsecuritiesmayfailtodeveloporfailtobemaintained.

• ThereisnoassurancethattheETFwillcontinuetomeetthelistingrequirementsoftheexchangeonwhichitssecuritiesarelistedfortrading.

Also,commissionsmayapplytothepurchaseorsaleofETFsecurities.Therefore,investmentinETFsecuritiesmayproduceareturnthatisdifferentthanthechangeinthenetassetvalueofthesesecurities.

l EQUITYINVESTMENTRISK

Thevalueofaninvestmentinanycompanymaychangeifthatcompany’sstockfallswiththerestofthestockmarket,

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regardlessofthefundamentalmeritsofinvestinginthatparticularcompany.Ifthereisnegativenewsorspecula-tionaboutacompanyinwhichamutualfundinvests,thecompany’ssecuritiesmaylosevalue,regardlessofthedirectionofthemarket.Thevalueofacompany’sequitysecuritiesmayalsobeaffectedbygeneralfinancial,politicalandeconomicconditionsinplaceswherethecompanyconductsitsbusiness.Also,theLiquiditymaychangefromtimetotimebasedonprevailingmarketconditionsandperceptionsabouttheissuerorotherrecentevents(suchasmarketdisruptions,companytakeoversandchangesintaxpolicyorregulatoryrequirements).

Amutualfundmayalsobeexposedtogreaterrisktotheextentthatitinvestsinsmallercompaniesbecausetheyareoftenrelativelynewanddonothaveanextensiveearningsrecord,andmaynothavethefinancialandotherresourcesormarketshareoflarger,moreestablishedcompanies.Thismaymaketheirsecuritiesmorevolatile.Amutualfundmayalsobeexposedtogreaterriskifitismoreexposedtocompaniesengagedinaspecificsectororindustry.Forexample,ifamutualfundhasalargeexposuretocompaniesengagedinacommodity-focusedindustry,thevalueofitssecuritiesmaybeaffectedbychangesincommodityprices,whichcanfluctuatesignificantlyovershortperiodsoftime.

l FIXEDINCOMEINVESTMENTRISK

TherearecertaingeneralinvestmentrisksapplicabletofixedincomeinvestmentsinadditiontoCreditriskandInterestraterisk.Thevalueoffixedincomesecuritiesmaybeaffectedbydevelopmentsrelatingtotheissueraswellasbygeneralfinancial,politicalandeconomicconditions(asidefromchangesinthegenerallevelofinterestrates),andbyconditionsinthefixedincomemarkets.Ifamutualfundpurchasesinvestmentsthatrepresentaninterestinapoolofassets(forexample,mortgagesinthecaseofmortgage-backedsecurities),thenchangesinthemarket’sperceptionoftheissuersoftheseinvestments(orinthevalueoftheunderlyingassets)maycausethevalueoftheseinvestmentstofall.

Theabilityofamutualfundtosellaparticularfixedincomesecurityatitsfairvaluemaychangefromtimetotimebasedonprevailingmarketconditionsandperceptionsabouttheissuerorotherrecentevents(suchasmarketdisruptions,companytakeoversandchangesintaxpolicyorregulatoryrequirements).Thiscanresultinthemutualfundnotbeingabletosellthatfixedincomesecurity,orhavingtosellitatareducedprice.

Inaddition,giventhatmostfixedincomesecuritiesmayhaveapredeterminedmaturitydate,thereisariskthatamutualfundmayhavetoreinvesttheprincipalatlower

prevailingmarketinterestratesatmaturity.Therealsoexiststheriskthatcertainfixedincomesecurities(includingasset-backedsecurities)maybeprepaidunexpectedlypriortomaturity.Ineitherevent,thiscouldresultinlessincomeandalowerpotentialforcapitalgains.

l FOREIGNCURRENCYRISK

Ifamutualfundinvestsinforeigncurrencyorbuysinvest-mentsthatarepricedinforeigncurrency,changesinthevalueoftheCanadiandollarcomparedtothevalueofforeigncurrenciesmayaffectthevalueofthemutualfund.

l FOREIGNINVESTMENTRISK

Mutualfundsthatholdforeigninvestmentsmaybeaffectedbythefollowingrisks:

• changingeconomicconditionsinaparticularforeigncountrymayadverselyaffectthemutualfund;

• thereisoftenlessinformationavailableaboutforeigncompaniesandgovernments,andmanyofthesecompaniesandgovernmentshavedifferentaccounting,auditingandreportingstandardsthanexistinCanada;

• someforeignstockmarketshavelesstradingvolume,makingitmoredifficulttobuyorsellinvestments,orpotentiallycausingmorepricevolatility;

• thecountrymayimposewithholdingorothertaxesthatcouldreducethereturnontheinvestmentoritmayhaveforeigninvestmentorexchangelawsthatmakeitdifficulttosellaninvestment;and

• politicalorsocialinstabilityanddiplomaticdevelop-mentsmayadverselyaffecttheinvestmentsheldbythemutualfund.

l INTERESTRATERISK

Thepriceoffixedincomedebtsecuritiesfluctuateswithmovementsinmarketinterestrates.Therefore,ifinterestrateschange,somemutualfunds(andinparticularincomeandbalancedfunds)areaffected,andthevalueoftheirinvestmentsmaychange.Generally,thevaluesofdebtsecuritiesfallwheninterestratesincrease.Debtsecuritieswithlongermaturitieswillhavegreaterinterestrateriskthaninvestmentswithshortermaturities.

l LARGEORDERRISK

ThisistheriskoflowerfundperformanceassociatedwithapossibleredemptionrequestedbyalargeUnitholderoftheFund,whichmaybemorelikelytooccurifaUnitholder(suchasanotherinvestmentfund)holdsmorethan10%oftheFund’sUnits.IfalargeredemptionorderisplacedbyaUnitholder,theFundmighthavetosellasignificantportionofitsinvestments.TheFundmaybeforcedtosell

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investmentsatunfavourableprices,ortokeepalargeramountofitsassetsincashthanwouldotherwisebethecase.TheseconditionscouldreducetheperformanceoftheFund.Whereamutualfund(referredtoasa“TopFund”)investsinUnderlyingFundsthathaveLargeorderrisk,theTopFund’sperformancecouldalsobereducedwhenthereisalargeredemptionbyaninvestoroftheUnderlyingFund.

l MULTI-CLASSANDCORPORATERISK

SomemutualfundssuchastheclassesofInvestorsGroupCorporateClassInc.,referredtoasthe“CorporateClassFunds,”areestablishedasaseparateclassofacorporationwiththeirowninvestmentobjective,andeachclasshasitsownfeesandexpenseswhicharetrackedseparately.Thoseexpenseswillbedeductedincalculatingthesharevalueforthatmutualfund,therebyreducingitssharevalue.Ifanyclassofthatcorporationisunabletopayitsexpenses,thecorporationislegallyresponsibletopaythoseexpensesand,asaresult,thesharepriceoftheremainingclassesmaybereduced.Further,ifthecorporationwastobefoundliabletoanypartyforanydamagesnotdirectlyattributabletooneormoreclasses,thesharepriceofallclassesmaybereduced.ThisriskmayapplytosomeoftheUnderlyingFundsheldbyaTopFundinvestinginanUnderlyingFundthatisanincor-poratedmutualfund,includinganyCorporateClassFund.

l MULTI-SERIESRISK

TheFundmayoffermorethanoneSeriesofUnitstoretailpurchasersinthefuture,anditmayofferoneormoreaddi-tionalNon-retailSeriesforqualifiedinvestors(suchasotherretailandnon-retailIGWealthManagementFunds).EachSerieswillhaveitsownfeesandexpensesthatarespecif-icallyattributabletoit.ThoseexpenseswillbedeductibleincalculatingtheUnitpriceonlyforthatSeries,therebyreducingthevalueoftheFund’sassetsattributabletothatSeries.Thoseexpenses,however,continuetobeliabilitiesoftheFundasawhole.Accordingly,theinvestmentperform-ance,expensesorliabilitiesofoneSeriesmayaffectthevalueofthesecuritiesofanotherSeries.IfanySeriesisunabletopayitsexpenses,theFundislegallyresponsibletopaythoseexpensesand,asaresult,theUnitpriceoftheremainingSeriesmaybereduced.

Also,iftheFundinvestsinaSeriesissuedbyanUnderlyingFund,itispossiblethatthefeesandexpensesofanyotherSeriesissuedbythatUnderlyingFundmayaffectthevalueofthosesecuritiesheldbytheTopFund.

l REALPROPERTYINVESTMENTRISK

CertainIGWealthManagementFundsmayinvestaportionoftheirassetsinInvestorsRealPropertyFund.InvestorsRealPropertyFundinvestsdirectlyinrealproperty.All

realpropertyinvestmentsaresubjecttoadegreeofriskandareaffectedbyvariousfactors,includingchangesingeneraleconomicconditions(suchastheavailabilityoflong-termmortgagefunding)andinlocalconditions(suchasthesupplyanddemandforrealestateinthearea),theattractivenessofthepropertiestotenants,competitionfromotheravailablespaceandtheabilityoftheownertoprovideadequatemaintenance.Furthermore,investmentsinrealpropertyarerelativelyilliquid.ThisilliquiditywilltendtolimittheabilityofInvestorsRealPropertyFundtorespondpromptlytochangingeconomicorinvestmentconditionsandmayalsoaffectitsabilitytoredeemitsunits.Asaresult,theseIGWealthManagementFundscouldexperienceasimilardelaywhenactinguponredemptionrequestsifredemptionsmustbefundedfromtheredemp-tionoftheirholdingsinInvestorsRealPropertyFund.TheseIGWealthManagementFundsintendtomaintainorhaveaccesstosufficientLiquiditytocoverallredemptionsinatimelymannersothatnosuchdelaysareexperiencedundernormalcircumstances.

l REALESTATEINVESTMENTTRUSTRISK

AninvestmentinRealEstateInvestmentTrusts(“REITs”)isalsosubjecttothegeneralrisksassociatedwithrealpropertyinvestments.Thevalueforarealpropertyandanyimprovementstheretomayalsodependonthecreditandfinancialstabilityofthetenants.Forexample,aREIT’sincomeandcashavailablefordistributiontoitsinvestorswouldbeadverselyaffectedifasignificantnumberoftenantsweretobecomeunabletomeettheirobligationstotheREIToriftheREITwereunabletoleaseasignificantamountofavailablespaceinitspropertiesoneconomicallyfavourableleaseterms.

l RISKOFNOTBEINGABLETOSELLYOURINVESTMENT

Inexceptionalcircumstanceswewon’tacceptanyorderstosellUnitsoftheFund.ThesecircumstancesareexplainedlaterinthesectionPurchases, switches and redemptions.

l SECURITIESLENDING,REPURCHASEANDREVERSEREPURCHASETRANSACTIONRISK

SecuritiesLendingTransactionsareagreementswhereamutualfundlendsitssecuritiesthroughanagenttoaCounterpartythatagreestoreturnthemtothemutualfundwithinterest.RepurchaseTransactionsareagreementswhereamutualfundsellssecuritiesthroughanagenttoaCounterparty,andatthesametimeagreestobuythesamesecuritiesbackfromtheCounterpartyatalowerprice,usuallywithinafewdays.AReverseRepurchaseTransactioniswherethemutualfundbuyssecuritiesfromaCounterpartyforcashandagreestosellthesecuritiesbacktotheCounter-partyatalaterdateatahigherprice.Thesetransactions

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allowthemutualfundtoearnahigherreturnonthesecur-itiesinitsportfolio.

AllmutualfundsareallowedbytheCanadiansecuritiesregulatorstoenterintoSecuritiesLendingTransactions,RepurchaseTransactionsandReverseRepurchaseTrans-actionsinaccordancewiththeRules.ThemostcommonriskofthesearrangementsisiftheCounterpartygoesbankrupt,ordoesnotfulfillitsobligationtoreturnthesecuritieswithinterest(inthecaseofaSecuritiesLendingTransaction),ordoesnotfulfillitsobligationtosellthesecurities(inthecaseofaRepurchaseTransaction)orbuybackthesecurities(inthecaseofaReverseRepurchaseTransaction).Ifthishappens,themutualfundmaysufferaloss.Mutualfundstrytoreducethisriskinthefollowingways:

• theCounterpartiesarerequiredtohaveaDesignatedRating;• theCounterpartiesmustplacewiththemutualfundcollateraltosupporttheirobligationsthatisatleast102%ofthemarketvalueofthesecuritiesthatareloanedtothem,orthesecuritiestheyhaveagreedtosellback,underaSecuritiesLendingTransactionoraRepurchaseTrans-action,respectively;

• thevalueofthiscollateralischeckedandresetdaily;• foraSecuritiesLendingTransaction,thecollateralmayincludecashandthefollowing“qualifiedsecurities”:

(i) fixedincomeormoneymarketinstrumentsissuedorguaranteedby:• theGovernmentofCanadaortheGovernmentofaProvinceofCanada;

• theU.S.Government,aU.S.State,aforeigngovern-mentorasupranationalagencyif,ineachcase,theyhaveaDesignatedRating;

• afinancialinstitutionthatisnottheCounterpartyoranaffiliateoftheCounterpartyifithasaDesignatedRating;or

(ii) commercialpaperofacompanythathasatermtomaturityoflessthan365daysandthathasaDesignatedRating;

• inaddition,forSecuritiesLendingTransactions,thecollat-eralmayalsoincludeirrevocablelettersofcreditissuedbyaCanadianfinancialinstitutionotherthantheCounter-partyoranaffiliateoftheCounterpartyifthefinancialinstitutionhasaDesignatedRating;

• foraRepurchaseTransaction,thecollateralmustbecashinanamountequaltoatleast102%ofthemarketvalueofthesecuritiessoldbythemutualfund;

• foraReverseRepurchaseTransaction,thesecuritiespurchasedbythemutualfundmusthaveamarketvalueof

atleast102%ofthecashpaidforthembythemutualfund,andmustbe“qualifiedsecurities”asdescribedabove;

• eachSecuritiesLendingTransactioncannotbeforaperiodofmorethan90days,butthemutualfundmayterminatethetransactionatanytimeandrecalltheloanedsecurities;

• eachRepurchaseTransactionorReverseRepurchaseTransactioncannotbeforaperiodofmorethan30days;and

• thevalueofallRepurchaseTransactionsandSecuritiesLendingTransactionscannotexceed50%ofthemutualfund’snetassets,notincludingthevalueofthecollateralforloanedsecuritiesorthecashforsoldsecurities.

l SPECIALIZATIONRISK

IfamutualfundinvestsonlyinspecificcountriesoutsideCanadaortheUnitedStates,orinparticulartypesofinvest-ments,commodities,marketsorsectors,thatmutualfund’sabilitytodiversifyitsinvestmentsmaybelimited.Thismaymeanthatthemutualfundcan’tavoidpoormarketcondi-tions,causingthevalueofitsinvestmentstofall.

l TAXPOLICYRISK

Allmutualfundsmaybeaffectedbychangesinthetaxlegislationthataffecttheentitiesinwhichthemutualfundsinvestorthetaxationofthemutualfunds.

l UNITHOLDERLIABILITYRISK

TheDeclarationofTrustprovidesthatUnitholdersshallnotbepersonallyliablefortheFund’sobligations,whethercontractual,statutoryortortious,anditfurtherprovidesthattheManagerwillindemnifyanyUnitholdersoutoftheFund’sassetsifanyclaim,suit,demandorotherwiseismadeagainstthatUnitholderarisingoutoftheownershipofUnitsintheFundandisbasedonactionsoftheFundortheassetsheldbytheFund.However,thereisstillariskthataUnitholdercouldbeheldpersonallyliablefortheFund’sobligationsifclaimsarenotsatisfiedoutoftheassetsoftheFund.Somejurisdictions(includingManitoba)havelegis-lationtoeliminatethisriskforUnitholdersoftruststhatarereportingissuersorganizedinthatjurisdiction.

TheManagerintendstooperatetheFundtominimizethisrisk,includingrequiring(whereverfeasible)thatanywrittendocumentorinstrumentcreatingamaterialobligationoftheFundcontainaprovisionthatnopersonalliabilityshallattachtotheUnitholdersoftheFund.However,theManagershallnotbeliableforanyfailuretoincludesuchaprovisioninanydocumentorinstrument.

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Organization and management of the FundThetablebelowshowsthecompaniesresponsibleforprovidingimportantservicestotheFund,aswellasthefunctionsoftheInvestorsGroupFundsIndependentReviewCommittee.IGMFinancialInc.owns,directlyorindirectly,allofthecompanieslistedbelow,excepttheCustodian,SecuritiesLendingAgentandtheAuditor.

Role Service provided

TrusteeI.G.InvestmentManagement,Ltd.447PortageAvenueWinnipeg,ManitobaR3B3H5

ResponsibleforsupervisionandtheoveralldirectionoftheFundonbehalfoftheFund’sinvestors.

Manager, Registrar and PromoterI.G.InvestmentManagement,Ltd. ManagestheoverallbusinessandoperationsoftheFund,and

providesorarrangesfortheday-to-dayadministrativeservicesfortheFund,andmaintenanceofUnitholderrecordsoftheFund.

Portfolio Advisor(s)I.G.InvestmentManagement,Ltd. (referredtoas“IGIM”)

MackenzieInvestmentsEuropeLimitedBrooklawnHouse,ShelbourneRoadBallsbridgeDublin4,Ireland(referredtoas“MIEL”)

Providesinvestmentadvisoryservices,includingselectinginvestmentsorreviewingtheselectionofinvestmentsbySub-advisors(ifany)totheFundasallocatedtothemfromtimetotime,asindicatedlaterinSpecific information about the Fund.

Principal Distributors InvestorsGroupFinancialServicesInc.Winnipeg,Manitoba(referredtoas“IGFS”)

InvestorsGroupSecuritiesInc.Winnipeg,Manitoba(referredtoas“IGSI”)

OfferstheFundthroughitsConsultants.

OfferstheFundthroughitsConsultantsorthroughaTradeCentreofInvestorsGroupSecuritiesInc.

CustodianCanadianImperialBankofCommercethrough CIBCMellonGlobalCustodyServicesToronto,Ontario

HoldsincustodythesecuritiesownedbytheFund.

Securities Lending AgentTheBankofNewYork,MellonNewYork,NewYork,U.S.A.

AdministerssecuritieslendingarrangementsonbehalfoftheIGWealthManagementFund.

AuditorDeloitteLLPWinnipeg,Manitoba

AuditsthefinancialstatementsoftheFundandprovidesanopiniononwhetherornotthefinancialstatementsarefairlypresentedinaccordancewithInternationalFinancialReportingStandards.

Investors Group Funds Independent Review Committee

ThemandateoftheInvestorsGroupFundsIndependentReviewCommittee(“IRC”)istoreview,andprovideinputon,ourwrittenpoliciesandproceduresthatdealwithconflictofinterestmattersinrespectoftheIGWealthManagementFunds,andtoreviewsuchconflictofinterestmatters.ThisincludesreviewingtradesbetweenIGWealthManagementFunds,aswellastheirholdings,purchasesandsalesofsecuritiesofcompaniesrelatedtotheManager.TheIRCmay

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The Trustee may from time to time without prior notice to you change the Portfolio Advisor from IGIM to MIEL, an affiliate of IGIM, or from MIEL to IGIM, or appoint both IGIM and MIEL to provide investment advisory services to the Fund.

Sub-advisorsmayberetainedtoassistwithprovidinginvest-mentadvisoryservices.Sub-advisorsmay:

• selectinvestments;• makedecisionstobuy,sellorholdinvestments;• developinvestment-relatedstrategies;and/or• carryouttransactions.

WhenaSub-advisormakesdecisionsforanyIGWealthManagementFund,thesedecisionsareindependentofthedecisionstheymakeforotherclients.WearecompletelyresponsibleforeachdecisionmadebyourSub-advisorsfortheIGWealthManagementFundsasrequiredbylaw.SometimesthereisonlyalimitedamountofaninvestmentavailableandtheSub-advisorwantstomakethesameinvestmentformorethanoneIGWealthManagementFundorforanotherclient.Ifthishappens,weortheSub-advisorwillallocatetheinvestmentfairlytotheIGWealthManage-mentFundsandsuchotherclients.The Portfolio Advisor(s) may add, change or remove any Sub-advisor at any time without prior notice to you.

IfaPortfolioAdvisororSub-advisorislocatedoutsideofCanada,itmaybedifficulttoenforceanylegalrightsagainstthembecauseall,orasubstantialportion,oftheirassetsarelikelytobeoutsideCanada.

IftheFundshouldinvestdirectlyinthesecuritiesofanothermutualfundthatismanagedbytheManageroroneof

itsaffiliatesorassociates,theManagerwillnotvotethesecuritiesoftheothermutualfundinconnectionwithameetingofthatothermutualfund,butmayarrangeforyoutoreceiveorhaveaccesstoalldisclosureandnoticematerialpreparedwithrespecttoanysuchmeetingwhenthisisdeemedappropriate.InsuchcircumstancesyoumaybegiventheopportunitytodirecttheManagerastohowitshouldvoteonyourbehalfatthemeeting.

Purchases, switches and redemptionsTheUnitpriceistheamountyoupaytobuy,orreceivewhenyousell,aUnitoftheFund.EachSerieshasitsownfeesandexpenses,soeachSerieshasitsownpriceperUnit.TodeterminetheUnitpriceofeachSeries,wecalculatethetotalvalueoftheFund’sassets,minusitsliabilities,attrib-utabletothatSeries.ThenwedividethatamountbythenumberofUnitsheldbytheFund’sinvestorsinthatSeries.Currently,IGBlackRockInternationalEquityFundoffersonlyoneretailSeries(SeriesUUnits),butitmayofferotherretailSeriesinthefuture.

WedeterminetheUnitpriceatthecloseofeachBusinessDay.IftheFundreceivesyourcompleteinstructionstobuyorsellUnitsoftheFundby3:00p.m.CentralTimeorearlieratthediscretionoftheManager(forexample,iftheTorontoStockExchangeclosesearlieronanyBusinessDay)(the“Deadline”),we’llprocessyourorderusingthepriceatthecloseofbusinessthatday.Otherwise,we’llprocessyourorderthenextBusinessDay,usingthepriceatthecloseofbusinessonthatday.AllinstructionstobuyorsellUnitsoftheFundmustgenerallybemadethroughthePrincipalDistributors.

Role Service provided

Investors Group Funds Independent Review Committee(continued)

alsoapprovecertainmergersinvolvingtheIGWealthManagementFunds,andanychangeinauditoroftheFund.2

EachmemberoftheIRCisindependentoftheManagerandanypartyrelatedtotheManager.TheIRCwillprepare,atleastannually,areportofitsactivitiesforUnitholders.Thisreportwillbeavailableonourwebsiteatwww.investorsgroup.comoryoumayrequestacopyatnocosttoyou,bycontactingusatcontact-e@investorsgroup.com(forserviceinEnglish)orcontact-f@investorsgroup.com(forserviceinFrench).ThefirstreporttoUnitholdersoftheFundwillbeavailableinoraboutJune2020.

AdditionalinformationabouttheIRC,includingthenamesofitsmembers,isavailableintheAnnualInformationForm.

2 ThemergerorterminationoftheFund,ortheappointmentofadifferentauditorfortheFund,whenapprovedbytheIRC,mayoccurafterUnitholdersreceive60dayspriorwrittennoticeprovidedcertainconditionsaremet.

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ways,ifyouarrangethisinadvancewithyourIGConsultant,providedthatsuitablepaymentarrangementsareinplace.IfyouraccountiswithInvestorsGroupSecuritiesInc.,youmaysubmitatraderequestdirectlythroughaTradeCentreofInvestorsGroupSecuritiesInc.

Ifyourchequeisreturnedbecauseofinsufficientmoneyinyourbankaccount,orforanyotherreason,wewillselltheUnitsthatyouboughtonthenextBusinessDay.Ifwesellthemformorethanyoupaid,theFundkeepsthedifference.Ifwesellthemforlessthanyoupaid,wechargeyouthedifferenceplusanycostsandinterest.

WemaydeclineanordertobuyUnitswithinoneBusinessDayofreceivingit.Ifwedodeclineyourorder,wewillpromptlyreturnallofyourmoneytoyou,butnointerestispayable.

Purchase optionsCurrently,theFundisonlyavailableforinvestmentsinSeriesU.

Series U UnitsSeriesUUnitsareavailabletocertainUnitholders3whohaveenteredintoanagreementwithaPrincipalDistributortopayaseparatefeedirectlytothatPrincipalDistributor.(Formoredetails,seeFees and expenses.)TheseUnitsareavailableforpurchaseonaNo-Load(NL)basisonly,soyouusuallydon’tpayaredemptionfeewhenyousellUnitspurchasedunderthispurchaseoption;however,switchesintoSeriesUfromtheDeferredSalesCharge(DSC)purchaseoptioninotherIGWealthManagementFundsareallowedandtheredemptionfeeschedulecontinuesforthoseDSCinvestments.AseparateadvisoryfeeispayabletothePrincipalDistributorbasedonthelevelofyourHouseholdInvestmentsasexplainedunderFees and expenses paid by you.Afeeforinappropriateshort-termtradingandotherfeesmayalsoapply.SeriesUisnotavailableforinvestmentsthataremadewithinaGroupPlan,RESPorRDSPaccount.

Ifyoubecomeanon-residentofCanada,youmayberequiredtoeitherredeemyourinvestmentinSeriesU,orswitchintoanotherIGWealthManagementFund.

Minimum initial investmentBeforeyoucaninvestinSeriesU,youmayneedtohaveaminimumamountofHouseholdInvestments.Whendeter-miningwhetheryoumeettheminimuminvestmentrequire-ments,weconsidertheamountofyourpurchase,togetherwithotherinvestmentsyouandothermembersofyourimmediateHouseholdhavemade(andcurrentlyown)intheFundandotherIGWealthManagementFunds.

Wewon’tacceptanyorderstobuyorsellUnitsifwe’vesuspendedthecalculationoftheUnitprice.UndertheRules,wemaysuspendthecalculationoftheUnitpriceif:

• normaltradingissuspendedonanyexchangeonwhichsecuritiesorDerivativesheldbytheFundaretradedifthosesecuritiesorDerivativesrepresentmorethan50%byvalue,orunderlyingmarketexposure,ofthetotalassetsoftheFundwithoutallowanceforliabilities,andthosesecur-itiesandDerivativesarenottradedonanotherreasonablypracticablealternativeexchange;

• wehavepermissionfromTheManitobaSecuritiesCommis-sion;or

• wearerequiredtobylaw.

Also,wemaynotacceptanyorderstobuyorsellUnitsoftheFundifwehavesuspendedthecalculationoftheUnitpriceforanyUnderlyingFundintowhichtheFundinvests,oriftherighttoredeemUnitsofanyUnderlyingFundissuspended.

FormoredetailsoncalculatingtheUnitprice,seetheAnnualInformationForm.

Buying Units of the FundYoucanbuyUnitsoftheFundfromanIGConsultantregis-teredwitheitherofthePrincipalDistributors,orthroughaTradeCentreofInvestorsGroupSecuritiesInc.Generally,youcannotpurchaseUnitsthroughanyotherdealers,unlessyouaremakinganinvestmentbyswitchingbetweenIGWealthManagementFundsorSeries.Inaddition,youmaynottransferUnitsoftheFundtoanaccountatanotherdealerifyourinvestmentisheldwithinanRESPorRDSPaccount.YoumayrequestthatanotherIGConsultantwhoisregisteredinyourprovinceofresidenceserviceyouraccount.Ifyouwishtotransferyourinvestmenttoanaccountatanotherdealer,youmayhavetoredeemyourUnitsandyourinvestmentwillbesubjecttoanyapplicableredemptionfeesandtaxes.(PleaseseeSelling Units of the Fundformoreinformation.)

WhenyoubuyUnitsoftheFund,youusuallyhavetogiveuscompletewritteninstructionsandincludefullpaymentinCanadiandollarsforyourUnitswithyourorder,unlessyouraccountisNomineeHeld,inwhicheventyourpurchasemustbesettledwithintwoBusinessDays.

Inthecaseofpurchasesof$1millionormore,yourordermaynotbedeemedtobereceivedunlessthefullamountofthepaymentincashisreceivedbyusby10:00a.m.CentralTime.Ifthecashisreceivedafter10:00a.m.,theFundmaynotacceptyourorderuntilthenextBusinessDay.

YoucanalsogiveusinstructionstobuyUnitsoverthetelephone,orinsomecircumstancesbyotherpermitted

3 PleasespeaktoyourIGConsultanttodeterminewhetheryourspouse,parents(includingspouseofparent),children(includingspouseofachild)oryourspouse’schildrenarealsoeligibletoinvestinSeriesU,oriftheyareeligibletoswitchanexistingDSCinvestmentintoSeriesU.

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OnceyouareeligibletoinvestdirectlyintheFund,youmustmakeaninitialinvestmentofatleast$50;however,ifyouopenaRRIForsimilarRegisteredPlanthereisa$5,000minimuminvestmentrequirement.

PleasespeaktoyourIGConsultanttodetermineifyouareeligibletoinvestinaparticularFundorSeriesofaFund.

WemayredeemyourinvestmentinanyFundandreturnthemoney(lessanyredemptionfeesandwithholdingtax,ifapplicable)iftheamountinvestedinyouraccountislessthan$250.Subsequentinvestmentsmustbeatleast$50amongallyourIGWealthManagementFunds,butthereisnominimumamountforreinvestedDistributions.TheseminimumsdonotapplytoinvestmentspursuanttoaPACarrangement.

IfyounolongermeettheminimumHouseholdInvestmentrequirement,duetooneormoreredemptionsbyyouorothermembersofyourHousehold(otherthanredemptionsmadeunderaSystematicWithdrawalPlan(SWP)orotherpre-arrangedregularperiodicredemptionsrequiredbylaw,orredemptionsarisingfromthepaymentofSeriesUadvisoryfees),youmayberequiredtoredeemyourinvestment.

Selling Units of the FundYoumustgiveuscompletewritteninstructionstosellyourUnits, unlessyou’vemadearrangementswithyourIGConsultanttoprovideinstructionstosellyourUnitsoverthetelephone,orinsomecircumstancesbyotherpermittedways.IfyouraccountiswithInvestorsGroupSecuritiesInc.,youmaysubmitatraderequestdirectlythroughaTradeCentreofInvestorsGroupSecuritiesInc.YoucansellsomeorallofyourUnits,oryoucansellacertaindollaramountofUnits.Theminimumamountyoucansellis$100worthofUnitsfromallIGWealthManage-mentFundsheldinyouraccount.

WhenyousellyourUnits,wewillredeemthemandsendyoutheredemptionproceeds(inCanadiancurrency)withintwoBusinessDaysofthedayyourUnitsaresold,unless:

• wehavenotreceivedcompleteinstructionsfromyou;or• thereismissingdocumentation;or• youhavenotyetreturnedallUnitcertificatesissuedfortheUnitsyouareredeeming;or

• thereareotherapplicablerestrictionsonourrecords;or• yourpaymentfortheUnitsbeingsoldhasnotyetclearedyourbankaccount;or

• thereisanyotherreasonnottoprocesstheredemption,withtheconsentofTheManitobaSecuritiesCommission.

Ifanyoftheaboveconditionsapply,wewilleitherrepur-chaseanyUnitsthatwereredeemedaspartofyourredemp-tionrequestornotprocessyourorder.Totheextentwehadprocessedyourorder,wewillrepurchaseanyUnitsthatwereredeemed.Iftheredemptionproceedsexceedthe

repurchaseamount,theFundwillkeeptheexcess.Iftheredemptionproceedsarelessthantherepurchaseamount,wewillpaythedifferenceandyouwillthenberequiredtoreimburseusforthisamountandforourexpenses(includinginterest).

AredemptionfeemayapplywhenyousellUnitsthatwereoriginallypurchasedundertheDSCpurchaseoption.Unitsthatarenotsubjecttoaredemptionfeewillberedeemedfirst,followedbyUnitsthathavethelowestredemptionfees.Also,awithholdingtaxmayapplyifyouaretakingmoneyoutofaRegisteredPlan(otherthanaTFSA).RefertothetableunderFees and expensesformoredetails.

IfyourinvestmentisinaNomineeHeldaccount,theredemp-tionproceedswillbepaidintothecashpositionofyouraccount,fromwhichyoucanmakeasubsequentwithdrawal.

AtanytimeyoumayasktohaveyouraccountwiththePrincipalDistributorsservicedbyanotherIGConsultantwhoisregisteredinyourprovinceofresidence.

Switching between IG Wealth Management FundsWhenyouswitch,yousellUnits(orshares)ofoneIGWealthManagementFundtobuyUnits(orshares)ofanotherIGWealthManagementFund.

WhenyoumakeaninvestmentbyswitchingbetweenIGWealthManagementFundsorSeries,theswitchwillbesubjecttothesameeligibilityrequirementsandminimuminvestmentamountsthatusuallyapplytothosepurchases,exceptthatyoucanswitchaninvestmentoutfromyourGroupPlaninanyamounttoanotherRegisteredPlaninvest-mentifyounolongerqualifytoremainasamemberoftheGroupPlan.

WhenswitchinginvestmentsbetweenIGWealthManage-mentFunds,youusuallymustswitchwithinthesameSeries.Forexample,youcansellaninvestmentpurchasedonaDSCbasisinaFundtopurchaseUnitsofanotherIGWealthManagementFundonaDSCbasis,butyougenerallycannotswitchaninvestmentpurchasedonaDSCbasisforanotheronaNLbasis,norcanyouswitchaninvestmentmadeundertheNLpurchaseoptiontoacquireaninvestmentundertheDSCpurchaseoptionofanyIGWealthManagementFund.However,whenswitchingUnitsheldundertheDSCpurchaseoptionofaFundintoIGMackenzieCanadianMoneyMarketFundunderanautomatictransferarrangement,youmustpurchaseUnitsundertheNLpurchaseoptioninallcases.Accordingly,aredemptionfeemayapplyifyourinvestmentisstillsubjecttoaredemptionfee.PleaseseeAutomatic switching by Systematic Transfer and Exchange Plan (STEP) underOptional servicesformoreinformation.

PleaseseeIncome tax considerations for investors formoreinformationaboutthetaxconsiderationsthatmay

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ariseifyouswitchyourinvestmentbetweenIGWealthManagementFunds.

WhenyouswitchfromanIGWealthManagementFund(orbetweenSeriesofthesameIGWealthManagementFundwhereapplicable)thathastimeremainingduringwhicharedemptionfeeispayable,generallythetimeremainingiscarriedforwardwithyourswitchintothenewIGWealthManagementFund(orintotheotherSeries,asapplicable).Accordingly,theredemptionfeewillthenbepayablewhenyousellthoseUnits(otherthanincertaincircumstances).Forthepurposesofdeterminingtheamountofanyredemp-tionfeewhichmaybepayable,wewillusethedatewhenyouoriginallymadethatinvestmentundertheDSCpurchaseoption.SeeFees and expensesfordetails.

IfyouareswitchingSeriesUUnitsthataresubjecttoaredemptionfeeforaninvestmentinanotherIGWealthManagementFundoraGuaranteedInvestmentFund(GIF),theredemptionfeegenerallywillonlybeimmediatelypayableifyouarepurchasingthatotherIGWealthManage-mentFundonaNLbasis,otherwisethetimeremainingduringwhicharedemptionfeeispayableisgenerallycarriedforwardintotheinvestmentintheotherIGWealthManage-mentFundorGIF.AwithholdingtaxmayalsoapplyifyouaretakingmoniesoutofaRegisteredPlan.SeeFees and expensesfordetails.

PleasenotethatinvestmentsinSeriesUcannotbeswitchedtoacquireSeriesCorTcUnits.SpecialrulesalsoapplytoswitchestoandfromInvestorsRealPropertyFund.(SeeSwitches to and from Investors Real Property Fundformoredetails.)

Switches to and from Investors Real Property FundInvestorsRealPropertyFundisanIGWealthManagementFundwhichissoldunderitsownprospectus.

UnliketheotherIGWealthManagementFundswhicharevaluedeveryBusinessDay,InvestorsRealPropertyFundisvaluedonlytwicepermonth(called“ValuationDays”).IfyouwishtoswitchyourinvestmentfromtheFundtoInvestorsRealPropertyFundonadayotherthanaValuationDay,yourswitchtoInvestorsRealPropertyFundcannotoccuruntilthenextValuationDay.Duringtheinterim,youmayelecttoswitchyourinvestmentintoIGMackenzieCanadianMoneyMarketFund(oranyotherIGWealthManagementFund),subjecttotheminimuminvestmentrequirementsofthatIGWealthManagementFund,pendingtheinvestmentofthesemoniesintoInvestorsRealPropertyFund.PleasespeaktoyourIGConsultantformoredetails.

Switches to and from Series C (or Tc)YoumayswitchyourinvestmentsinSeriesC(orTc)ofotherIGWealthManagementFundsintoSeriesUofthe

FundprovidedthatyoumeettheminimumeligibilityandinvestmentrequirementsforthatSeries.However,onceyouswitchyourinvestmentfromSeriesC(orTc)intotheFund,youcannotlaterswitchthatinvestmentbackintoSeriesCorTcofanyIGWealthManagementFund.

WhenswitchingfromSeriesCintotheFund,theredemp-tionfeeschedulewillcontinuetoapplyifyourinvestmentinSeriesCwaspurchasedundertheDSCpurchaseoption.Likewise,ifyoulaterswitchthatinvestmenttoanotherIGWealthManagementFund,youmustpurchasethecorrespondingDSCpurchaseoptionofthatotherIGWealthManagementFund(subjecttotheminimuminvestmentandeligibilityrequirements).

Short-term trading Short-termtradinghasthepotentialtoadverselyaffecttheinterestsofmutualfundsandtheirinvestorsbyincreasingtradingandothercosts,andinterferingwiththeefficientmanagementofamutualfund’sportfolio.

Wehaveadoptedpoliciesandrelatedprocedurestopreventinappropriateshort-termtradinginalloftheIGWealthManagementFunds.OurproceduresincludethemonitoringoftradingactivitywithintheIGWealthManagementFundstodetectinstancesofaninappropriateshort-termtradingstrategy,investigationintoanytradingactivitythatcouldconstituteinappropriateshort-termtrading,andthetakingofpromptactionwhensuchtradingactivityisdetected.Indeterminingwhetheraparticulartradeisinappropriate,wewillconsiderallrelevantfactors,including bona fide changesininvestorcircumstancesorintentions,thenatureoftheIGWealthManagementFundsinvolved,andthepasttradingpatternbytheinvestor.Wemayconductdiscussionswiththeinvestorortheinvestor’sConsultantconcerningthetrade.

Weconsiderasinappropriateshort-termtradingacombin-ationofapurchase(includingaswitchintoanIGWealthManagementFund)andredemption(includingaswitchfromanIGWealthManagementFund)orviceversawithinashortperiodoftimethatmaybedetrimentaltooneormoreIGWealthManagementFunds,allasdeterminedbyusinoursolediscretion.Thesetradesaregenerallyforperiodsoflessthan10days,butcanbeforperiodsofupto90dayswhichtakeadvantageofcertainIGWealthManagementFundswithsecuritiespricedinothertimezonesorilliquidsecuritieswhichtradeinfrequently.WerecognizethatinvestmentinMoneyMarketFundsandtheInvestorsCorner-stonePortfoliomaybeintendedforlegitimateshort-termpurposes.Accordingly,tradesinvolvingMoneyMarketFundsandtheInvestorsCornerstonePortfoliowillgenerallynotbeconsideredasinappropriateshort-termtradingunlesswehavedeterminedthatthesetradesareinconnectionwith

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aninappropriateshort-termtradingstrategyinvolvingotherIGWealthManagementFunds.Similarly,tradesinvolvingIGWealthManagementFundsunderafund-of-fundsstructure,orpursuanttoarebalancingarrangement,willgenerallynotbeconsideredasbeinganinappropriateshort-termtradingactivity.

Ifweconcludethataparticulartradeisinappropriate,wewillimposeashort-termtradingfee.ThisfeeispayabletotheaffectedIGWealthManagementFunds,andisinadditiontoanyotherfees,includingredemptionfeesandexcessiveswitchingfees,thatmaybecharged.RefertothetableunderFees and expensesformoredetails.

Also,wemaytakesuchadditionalactionasweconsiderappropriatetopreventfurthersimilaractivity.Theseactionsmayincludethedeliveryofawarningtotheinvestor,placingtheinvestoronawatchlisttomonitorcloselyhisorhertradingactivitiesandthesubsequentrefusaloffurthertradesbytheinvestoriftheinvestorcontinuestoattemptsuchtradingactivity,and/oraccountclosure.

PleaserefertotheAnnualInformationFormformoreinfor-mationaboutshort-termtrading.

Optional servicesIGWealthManagementoffersavarietyofoptionalservicestoclients.Toapplyfortheseoptionalservices,completeanapplicationformavailablefromyourIGConsultant.AsatthedateofthisSimplifiedProspectus,someoftheseoptionalservicesmaynotbeavailableifyouraccountisNomineeHeld.

Registered PlansWeofferanumberofRegisteredPlansincluding,butnotlimitedto:

• RegisteredRetirementSavingsPlan(RRSP);• RegisteredRetirementIncomeFund(RRIF);• LifeIncomeFund(LIF);• PrescribedRetirementIncomeFund(PRIF);• RestrictedLifeIncomeFund(RLIF);• Locked-inRRSP;• Locked-inRRIF(LRIF);• Locked-inRetirementAccount(LIRA);and• Tax-FreeSavingsAccount(TFSA).

IfyouareinvestinginUnitsoftheFundthroughaRegisteredPlan,youshouldconsultwithyourtaxadvisorastowhetherUnitsoftheFundwouldbea“prohibitedinvestment”foryourRegisteredPlaninyourparticularcircumstances.PleaseseeIf you have a Registered PlanintheIncome tax considerations for investors section.

Automatic regular investments by Pre-Authorized Contributions (PACs)Pre-AuthorizedContributionarrangements(“PACs”)enableyoutomakeautomaticregularinvestments(alsoknownasdollarcostaveraging)withoutwritingchequesorsendinginwrittenrequests.Wecanarrangetowithdrawmoneyfromyourbank,trustcompanyorcreditunionaccounttomakeinvestmentsannually,quarterly,monthlyorasoftenasweekly.However,youmustinvestatleast$50witheachinvestmentamongallyourIGWealthManagementFunds.YoucanincreaseordecreaseyourregularPACinvestmentsandmakeadditionallumpsuminvestmentsatanytime.APACcannotbesetuptoacquireanyFundundertheDSCpurchaseoption.

ExemptivereliefhasbeengiventotheIGWealthManage-mentFundsinalljurisdictionsfromhavingtodeliverannuallyacopyofthemostrecentFundFactstoanypersoninvestingthroughaPAC,unlessthepersonrequeststoreceiveacopy.Accordingly,annuallywewillsendacopyoftheFundFactsfortheSeriesofyourIGWealthManage-mentFund(s)thatyouinvestinthroughaPACarrangement,butonlyifyourequesttoreceiveit.(PleasecontactyourIGConsultantformoreinformation.)YoumayalsorequesttoreceiveacopyoftheSimplifiedProspectus(includinganyamendments).Thesedocumentsmaybefoundonourwebsite(www.investorsgroup.com),andontheSEDARwebsite(www.sedar.com).

Automatic regular redemptions YoumaybeabletoarrangetosellUnitsoftheFundthroughautomaticregularredemptions,alsoknownasaSystematicWithdrawalPlan(“SWP”)orthroughaScheduledSell.ASWPsellsUnitsoftheFundsanddisbursestheproceedstoyourbankaccountsinClientNameandNomineeHeldaccounts.AScheduledSellsellsUnitsoftheFundstothecashpositionandisavailableifyouraccountisNomineeHeld.Generally,theminimumamountyoucanredeemonaregularbasisis$100fromallIGWealthManagementFundsheldinthesameaccount.YoucansellyourUnitsasoftenasmonthly(weeklyforNomineeHeldaccounts).ForClientNameaccountsyoumustaskustosellUnitsatleastquarterly,otherthanfor:(i)withdrawalsfromaRRIForasimilarRegisteredPlan,inwhichcaseanannualorsemi-annualSWPcanbesetupforyou;or(ii)whenannualwithdrawalsarerequiredbyRDSPrules.ForNomineeHeldaccountsyoumustsellUnitsatleastannually.YoucanalsoaskustosellUnitsatanyothertime.Pleaseremember,though,thatautomaticredemp-tionsmayeventuallydepleteyourinvestment.

YoucannotsetupaSWPfromaninvestmentheldwithinaRegisteredPlan,exceptyoucanreceiveautomaticredemp-tionsfrom:

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(i) aRRIForsimilarRegisteredPlan;or(ii) aTFSA.

ForNomineeHeldaccounts,youcanalsosetupaSWPtoautomaticallysellUnitsfromaRRIF(orsimilarRegisteredPlan)toanon-registeredaccountorTFSAcashposition.AScheduledSellcanbesetupfromaninvestmentheldwithintheRegisteredPlanornon-registeredaccount.

WhenyousellUnitsunderaSWP,wewillsendtheproceeds(inCanadiancurrency)withintwoBusinessDaysfromthedaytheUnitsaresoldtoyourbankaccount,ortothecashpositionaccountfromwhichyoucanmakeasubsequentwithdrawal.Inbothcases,achequecanbesenttoyouatyourrequest.

WhenyousellUnitsunderaScheduledSell,wewillsendtheproceeds(inthecurrencyoftheaccount)thenextBusinessDay.

Youwon’thavetopayafeeformakingregularredemptionsifyousellunlesstheUnitswereboughtwithaninvestmentinitiallymadeundertheDSCpurchaseoption,andtheredemptionfeeschedulethatappliestothoseUnitshasnotyetexpired.However,youwon’thavetopayaredemptionfeeinthesecircumstanceswhentheamountredeemedfromallIGWealthManagementFundsheldwithinthesameaccountwithinthecalendaryearislessthan12%ofthevalue(asatDecember31stofthepreviousyear)ofyourinvestmentinIGWealthManagementFundspurchasedundertheDSCpurchaseoptionheldwithinthesameIGWealthManage-mentaccount.Forthispurpose,youwillhaveseparateIGWealthManagementaccountsforyourIGWealthManage-mentFundsheldwithineachRegisteredPlanandforyourIGWealthManagementFundsthatarenotheldwithinaRegisteredPlan.Also,onlyinvestmentsmadeundertheDSCpurchaseoption(asatDecember31stofthepreviousyear)willbeconsideredwhendeterminingthefee-freeamountyoumayreceiveunderyourSWPorScheduledSell.ThisfeatureisalsoavailableifyousetupaSTEPforClientNameAccounts(discussedbelowunderAutomatic switching).UnitsoftheIGWealthManagementFund(s)andSeriesselectedforyourSWPorScheduledSellwillgenerallyberedeemedinanorderthatreducesthepotentialthatredemptionfeeswillapply. Accordingly,investmentsthatarenotsubjecttoaredemptionfeewillgenerallyberedeemedfirst,followedbyUnitswiththelowestredemptionfee.UnitsthatareredeemedunderyourSWPorScheduledSellthatarenotsubjecttoaredemptionfeewillbeincludedinthecalcula-tionofyour12%annualfee-freeamount.

Ifyouopenanaccountduringtheyear,theamountoffee-freeredemptionsunderaSWPorScheduledSellwillbebasedonthevalueofyourinvestmentpurchasedor

transferredinunderaDSCpurchaseoption,andwillbepro-ratedbasedonthenumberofSWPorScheduledSellredemptionsremainingintheyear.IfyoualreadyhaveanaccountandwishtosetupaSWPorScheduledSellduringtheyear,theamountoffee-freeredemptionswillbebasedonthemarketvalueofyourinvestmentsundertheDSCpurchaseoptionasatDecember31stofthepreviousyear.Thisamountwillbepro-ratedbasedonthenumberofSWPorScheduledSellredemptionsremainingintheyear.

AnyDistributionsyoureceiveincash(orthatarere-investedinanotherIGWealthManagementFund)fromaninvestmentheldundertheDSCpurchaseoptionwillservetodecreasethefee-freeamountofredemptionsunderyourSWPorScheduledSellforthecurrentyear.AnyinvestmentssubjecttoaredemptionfeethatareredeemedtopaytheadvisoryfeeinSeriesUwillnotreducethefee-freeredemptionsavailableunderyourSWPorScheduledSellforthecurrentyear.

Forexample,ifthevalueofyourDSCinvestmentsinallIGWealthManagementFundsheldwithinthesameaccountwas$10,000asatDecember31st,youcouldredeemwithoutaredemptionfeeupto$1,200fromyouraccountduringthenextyearunderyourSWPorScheduledSell(orSTEP),butaredemptionfeemayapplyifyouredeemmorethanthisamount.

PleasespeaktoyourIGConsultantabouttheamountoffee-freeredemptionsyoumayreceiveunderyourSWPorScheduledSell.RedemptionsmadeoutsideyourSWPorScheduledSellwillbesubjecttoanyredemptionfeesthatmayapply.

Automatic switching YoucanarrangetoswitchUnitsoftheFundsthroughautomaticswitching,alsoknownasaSystematicTransferandExchangePlan(STEP)forClientNameaccounts,oraScheduledSwitchifyouraccountisNomineeHeld.IfyouraccountiswithInvestorsGroupFinancialServicesInc.,generallyyoucanautomaticallyswitchUnitsoftheFundforaninvestmentunderthesamepurchaseoptionofanotherIGWealthManagementFund,providedthatyoumeettheusualeligibilityandminimuminvestmentrequirements.

YoucanswitchUnitsasoftenasmonthly(weeklyforNomineeHeldaccounts),butyoumustswitchatleastquarterlyeachyearforClientNameaccounts(otherthanforthewithdrawalsmadefromaRRIForasimilarRegisteredPlan,inwhichcaseanannualorsemi-annualSTEPcanbesetupforyou).ForNomineeHeldaccounts,youcanswitchUnitsatleastannually.Youcanalsoaskustoswitchaddi-tionalUnitsatanyothertime.AsmentionedunderFees and expenses,youdonotnormallyhavetopayafeewhenswitchingbetweenIGWealthManagementFunds.

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ForaSTEPyoucanautomaticallyswitchUnitswithinthesameRegisteredPlanandfromanon-registeredaccountintoaRegisteredPlanexceptforanRESPoraRRIFandsimilarRegisteredPlans.IftheautomaticswitchiscomingoutofanaccountthatisnotaRegisteredPlan,thenthetransfercanbetoanyaccount,exceptanRDSP,RRIForsimilarRegisteredPlans.YoucanalsosetupaSTEPtoautomaticallyswitchUnitsheldwithinaTFSAtoanotherRegisteredPlan(otherthananRDSP),andfromaRRIFtoanon-registeredaccountorTFSA.

ScheduledswitchesautomaticallyswitchUnitswithinthesameRegisteredPlanornon-registeredaccountanddonotusethe12%annualfee-freeredemptionamount.

Automatic reinvestment of Distributions TheFundmayearndividend,interestorotherincomefromitsinvestments.TheFundmayalsorealizecapitalgainswheninvestmentsaresoldataprofit.WhentheFundmakesapaymenttoyouofincome(lessanyexpenses)andnetrealizedcapitalgains,orareturnofcapital,thesepaymentsarecalledDistributions.

WeautomaticallyreinvestyourDistributionstobuyaddi-tionalUnitsofthesameSeriesoftheFund(orthesamepurchaseoptionofthatSeries,asapplicable)usingtheUnitpriceonthedaywereinvesttheDistribution.ForClientNameaccounts,youmayrequestustodirectyourDistributionstobuyUnitsinapermittedSeriesorthesamepurchaseoptionofanotherIGWealthManagementFund.WecanpaytheseDistributionsdirectlytoyouincashifyourinvestmentisnotheldwithinaRegisteredPlan(asidefromaTFSA).IfyoudonotreinvestDistributionsthiscouldresultinthedepletionofyourinvestment.

IfDistributionsarepaiddirectlytoyouincash,themoneywillbedepositedintoyourbankaccountorintothecashpositionofyourNomineeHeldaccount,fromwhichyoucanmakeasubsequentwithdrawal.

IftheFundisheldwithinaRegisteredPlan(asidefromaTFSA),DistributionsmustbereinvestedintoyourRegisteredPlan.

UnitsacquiredwithreinvestedDistributionsaresubjecttothesamefeesandexpensesthatapplytootherUnitsunderthesamepurchaseoption,exceptthattheyarenotsubjecttoaredemptionfeeifreinvestedintheDSCpurchaseoptionofSeriesU.

IG Wealth Management Charitable Giving ProgramTheIGWealthManagementCharitableGivingProgram(the“Program”)isadonor-advisedcharitablegivingprogramdevelopedbyIGWealthManagementwiththe

4 AsatthedateofthisSimplifiedProspectus,theFundisnotanEligibleFundundertheProgram.

StrategicCharitableGivingFoundation(the“Foundation”),anon-profitcharitablecorporationregisteredasapublicfoundationwiththeCanadaRevenueAgencyandwiththeQuébecMinistryofRevenue.YourIGConsultantcanprovideyouwithadditionaldetailsabouttheProgram,includingabouthowtodonateyourinvestmentinanyIGWealthManagementFundstotheFoundationandthecurrentlistof“EligibleFunds”asdiscussedbelow.

TheProgramallowsyoutomakeirrevocabledonationstotheFoundationand,insodoing,establishaCharitableGivingAccount(the“Account”)withintheProgramtoholdtheproceedsofyourdonation.TheFoundationwillinvesttheproceedsinapermittedIGWealthManagementFund(the“EligibleFund”)4andmakegrantsoveraperiodofyearstoCanadiancharitiesandotherpermittedentitiesassetoutintheTaxAct(the“EligibleCharities”).AnAccountmayonlyinvestinasingleEligibleFundatanytime.

YourinitialdonationundertheProgrammustbeatleast$10,000(comprisingcash,securities,insuranceand/ordonationoflifeinsurancefromalivingperson).SubsequentdonationstotheAccountmustbeatleast$500(althoughyoumaymakesubsequentsmallerdonationstopaythepremiumsassociatedwithadonatedlifeinsurancepolicy).DonorsareusuallyentitledtoataxreceiptforthemarketvalueoftheirdonationonthedateitisacceptedbytheFoundation.

AlthoughtheFoundationistheowneroftheassetsyoudonate,itwillgenerallyactonyourrecommendations(orthoseofpersonsauthorizedbyyou)withrespecttoselectingtheEligibleFund,andtheEligibleCharitiesthatyouwishtoreceiveannualgrants,andalsowithrespecttodetermininghowtheAccountwillbemanagedafteryourlifetime.

TheProgramfacilitatesphilanthropyandoffersdonorsbenefitssimilartohavingtheirownprivatefoundation,withouttheinitialadministrativecostsandresponsibilities.AnannualcharitableadministrationfeeappliestoallassetsheldintheAccount,otherthandonationsoflifeinsurancepoliciesforwhichtheproceedshavenotyetbeenpaid.Inaddition,eachAccountintheProgrampaysapro-ratashareoftheFoundation’sannualoperatingexpenses,includinggrantactivitychargesspecifictoeachAccount.Feeswillbeautomaticallydeductedsemi-annuallyfromtheAccount.TheFoundationreservestherighttochangethesefeesatanytimewithappropriatenotice.

YoushouldconsultwithyourtaxadvisoraboutthetaxbenefitsandconsequencesofmakingadonationtotheFoundation.FurtherinformationabouttheProgramcanbefoundonourwebsiteatwww.investorsgroup.com.

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Fees and expensesTherearecertainfeesandexpensesassociatedwithinvestingintheFund,plusapplicableSalesTaxes.ThefollowingtablesdescribethefeesandexpensesyoumaypayifyouinvestintheFund.TheFundpayssomeofthesefeesandexpenses,whichreducesthevalueofyourinvestment.Therewillbenoduplicationofmanagementfees,trusteefeesoradministrationfeespayablebytheFundasaresultofanyinvestmentinanUnderlyingFund,andtherewillbenoredemptionfeepayablebytheFundwithregardtotheredemptionofanyinvestmentitmakesinanotherIGWealthManagementFund.Youpayotherfeesandexpensesdirectly,includingaccountadministrativeortransactionfeespayabletothePrincipalDistributorsthatmaynotbedirectlyassociatedwithyourinvestmentintheFund.

Fees and expenses paid by the Fund

Management fee TheFundpaysamanagementfeeforinvestmentadvisoryandmanagementservicestoit.PleaseseetheSpecific information about the FundsectionlaterinthisSimplifiedProspectusforthemanagementfeepayablebySeriesUoftheFund.ThemanagementfeeincludesthefeepayabletotheFund’sManagerandPortfolioAdvisor(s).

Operating expenses Administration fee TheFundpaysanadministrationfeecalculatedasanannualpercentage(accruedandpayabledaily)ofitsnetassetvalueforeachSeriesoftheFundiftheFundhasmorethanoneSeries(otherthancertainNon-retailSeriesUnits,ifany),asdisclosedintheinformationabouttheFundlaterinthisSimplifiedProspectusunderSpecific information about the Fund.Inexchangeforthisfee,theManagerwillpaythecostsandexpensesrequiredtooperatetheFundincludingaudit,accounting,legal,record-keeping,transferagency,prospectusandregulatoryfilingfees(includinganyportionoftheManager’sregistra-tionfeesattributabletotheFund),andcustodysafekeepingfeesthatarenototherwiseincludedinthemanagementfee,exceptforFundCostsasexplainedbelow.

Fund CostsFundCostsareallocatedamongIGWealthManagementFunds,andamongSeriesoftheIGWealthManagementFunds,asapplicable,onafairandreasonablebasis.EachIGWealthManagementFundorSerieswillbearanyexpensethatcanbespecificallyattributedtothatIGWealthManagementFundorSeries.CommonexpenseswillbeallocatedamongallIGWealthManagementFundsorSeriesinamannerwhichwedeterminetobethemostappropriatebasedonthenatureoftheexpense.FundCostsincludethefollowingfeesandexpenses:

• anyregulatoryfeeincreasesandcostsofcomplyingwithadditionalregulatoryrequirementsafterJuly25,2007;

• feesrelatedtoexternalservicesthatarenotcommonlychargedintheCanadianmutualfundindustryasofJuly25,2007;

• taxes(including,butnotlimitedto,SalesTaxes);• interestandborrowingcosts;• anannualtrusteefeeasdiscussedbelow;• brokeragefeesandothersecuritiestransactionexpenses,includingthecostsofDerivativesthattheFundmayuse;and

• theportionofthememberfeesandanyexpensesincurredinconnectionwiththeInvestorsGroupFundsIndependentReviewCommittee(the“IRC”)payablebytheFund(“IRCCosts”),asdiscussedbelow.

WemayabsorbcertainoperatingexpensesorwaiveaportionoftheFund’smanagementfee(oritsadministrationfee)toensurethattheFundremainscompetitive.Thereisnoassurancethatthiswilloccurinthefuture.

IRC CostsIRCCostsinclude,withoutlimitation,anannualretainerof$40,000permember($50,000fortheChair),apermeetingfeeforeachmeetingattended,reimbursementofreasonableexpensesincurredbythemembersoftheIRCintheperformanceoftheirduties(suchastravelandaccommodation),CPP

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Operating expenses (continued)

paymentsmadeonbehalfoftheIRCmembers,liabilityinsurance,andexpensespaiddirectlytoaserviceproviderforservicesprovidedtoanyIRCmember.ForthefinancialyearendedMarch31,2019,IRCCostsfortheIGWealthManagementFundswereapproximately$365,796.TheManagerdoesnotintendtoreimbursetheFundforanyofitsIRCCosts.SeetheIG Wealth Management Fund Governance sectionoftheAnnualInformationFormformoredetailsabouttheIRC.

Trustee fee TheFundpaysanannualtrusteefeetotheTrusteeof0.05%ofitsaveragenetassets(excludingcertainNon-retailSeries,ifany)forprovidingsupervisionandoveralldirectionoftheFundonbehalfofitsinvestors.

Fees and expenses paid by you

Initial sales charges (payable at purchase)

None.

Redemption fees ThereisgenerallynoredemptionfeepayablewhensellingSeriesUUnits,unlessyourUnitswereacquiredasaresultofaswitchofaninvestmentmadeundertheDSCpurchaseoptionofanotherIGWealthManagementFund,inwhichinstancetheredemptionfeescheduleineffectatthetimethatyoumadeyouroriginalinvestmentwillcontinuetoapplybasedonthenumberofyearsyouhaveheldyourinvestmentasshownbelow:

When you sell your Units You pay

During4thyearafteryouboughtthem 4.5%oftheamountyousellDuring5thyearafteryouboughtthem 4.0%oftheamountyousellDuring6thyearafteryouboughtthem 3.0%oftheamountyousellDuring7thyearafteryouboughtthem 1.5%oftheamountyousellMorethan7yearsafteryouboughtthem Nofee

However,youwon’thavetopayafeeformakingredemptionsinthesecircumstancesif:

• theredemptionfeescheduleapplicabletoyouroriginalinvestmenthasexpired;• incertaincircumstancesyousellUnitsusingautomaticregularredemptionsunderaSWParrangement.Formoredetails,seeAutomatic regular redemptions.

Formoredetails,seeImpact of sales charges.

ForpurchasesmadebyanindividualafterJune30,2016,anyapplicableredemptionfeewillbewaivedupondeath(orupondeathofthelastsurvivingownerforjointlyheldaccounts).

IfyouswitchinvestmentssubjecttoaredemptionfeefromanIGWealthManagementFundtoaGuaranteedInvestmentFund(“GIF”),orviceversa,wemaywaivetheredemptionfee,althougharedemptionfeemaybepayablewhenyouredeemyourGIF.

Incertaincircumstances,however,youmaybesubjecttoanexcessiveswitchingfeeand/orafeeforinappropriateshort-termtrading.PleaseseeExcessive switching fee and Short-term trading feebelowformoredetails.

Excessive switching fee

Generally,youdon’thavetopayafeeforswitchingbetweenIGWealthManagementFunds.But,ifyouswitchinto,oroutfrom,theFundsooftenthatinourviewyourswitchescouldhaveadetrimentaleffectontheFund,wemay:

• chargeyouanexcessiveswitchingfeebeingthehigherof:(i) upto3%oftheamountbeingswitched;or(ii) upto4.5%oftheamountbeingswitchediftheinvestmentbeingswitchedissubjecttoaredemp-

tionfeebasedonthetimesincethemostrecentinvestmentinthetransferorfund;and/or• rejectyourinvestmentintotheIGWealthManagementFundyouwishtopurchase.

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Short-term trading fee

Youshouldbeawarethatapurchase(includingaswitchintotheFund)andredemption(includingaswitchfromtheFund),orviceversa,within90dayscouldsubjectyoutoashort-termtradingfeeofupto2%oftheamountyouswitchorredeem.ThisfeeispayabletotheFund,andisinadditiontoanyotherfees,includingredemptionfeesandexcessiveswitchingfees,thatmaybecharged,asdescribedunderRedemption fees andExcessive switching fee,respectively.

Advisory fee (Series U)

YoupayanadvisoryfeedirectlytothePrincipalDistributorsforinvestmentadviceandadministrativeservicesifyourinvestmentisheldwiththem.Theadvisoryfeeisbased,amongotherthings,onthemarketvalueofyourSeriesUinvestments(includingSeriesUandTuinvestmentsyouhaveinotherIGWealthManagementFunds)thatareheldinyouraccount.TheratepayablegenerallydependsonyourHouseholdInvestments,thetypesofinvestmentspurchasedandthelevelofserviceprovidedtoyou.TheadvisoryfeewillbecalculateddailyandpaidmonthlyanditwillbecollectedviaredemptionofUnitsfromyouraccount.

ThePrincipalDistributorsmayofferyouafeereduction.Formoredetails,pleasecontactyourIGConsultant.

Underlying ETFs Toachieveitsinvestmentobjective,anIGWealthManagementFundmayinvestinexchange-tradedfunds(“ETFs”),whichhavetheirownfeesandexpensesthatreducetheirvalue.Generally,theManagerhasdeterminedthatfeesandexpensespaidbyanETFwhichisapassiveindexparticipationunit(“IPU”)arenotduplicativewiththefeespaidbytheIGWealthManagementFund,andareadditionalindirectcostsoftheIGWealthManagementFunds.However,wheresuchETFsaremanagedbyMackenzieInvest-ments(“Mackenzie”)whichisouraffiliate,wehaveenteredintoanarrangementwithMackenziewheretheIGWealthManagementFundsarefullyreimbursedforallmanagementfeespaidforatleastoneyearfromthedateofthisprospectus.Thisarrangementissubjecttochangethereafter.

Impact of sales chargesAredemptionfeewillapplyifyouswitchintoSeriesUUnitsfromaninvestmentpurchasedonaDSCbasiswhichhastimeremainingduringwhicharedemptionfeeispayable.

ThefollowingtableshowstheredemptionfeesyouwouldpaytosellUnitsif:

• youinvest$1,0005intheFund;• yourinvestmentgrowsby5%eachyear;• youholdtheinvestmentforone,three,fiveortenyears;and• yousellyourinvestmentimmediatelybeforetheendofeachofthesetimeperiods.

When you buy When you sell your Units after your Units 1 year 3 years 5 years 10 years

InvestmentsswitchedintotheFundthatwereoriginallyacquired None Nolonger Nolonger $51 None undertheDSCpurchaseoptionbeforeJanuary1,20176 applicable applicable

InvestmentsswitchedintotheFundthatwereoriginallyacquired None None None None None undertheDSCpurchaseoptionthroughaPre-AuthorizedContribution Arrangement(PAC)afterDecember31,2016

AllotherinvestmentsinSeriesU None None None None None

Ifyousellaninvestmentusingautomaticregularredemptions,youmaynothavetopayafeeincertaincircumstances.Formoredetails,seeAutomatic regular redemptions.

5 Notethatminimuminitialeligibilityandinvestmentrequirementsmustbemet.Pleasesee Minimum initial investmentformoredetails.6 YoupayaredemptionfeewhenyousellinvestmentsacquiredundertheDSCoptionofaFundafterDecember31,2016(otherthanifthoseUnitswereacquiredbyswitchinganinvestmentoriginallymadeundertheDSCpurchaseoptionbeforethatdateandtheredemptionfeeschedulehasnotexpired),orifyourredemptionoccursaftersevenyearsfromthedateyoubuythem,orsuchshorterperiodasmayapplyiftheseUnitswerepurchasedbyswitchinganinvestmentthatwasalreadysubjecttoaredemptionfee.PleaseseeFees and expenses.

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Dealer compensationPayments to your ConsultantYourIGConsultantreceivescompensationforthesaleoftheFundasfollows:

• Asalesbonusofupto2.5%oftheamountyouinvest;• IfyourConsultanthasbeenwithusforless thanfouryears,heorshemayreceiveanadditionalpaymentofupto40%ofhisorherearningstohelpestablishtheirpractice;

• IfyourConsultanthasbeenwithusformore thanfouryears,heorshemayreceiveanadditionalannualpaymentofupto0.09%ofyourinvestment;and

• Inaddition,anannualtrailingcommissionofupto0.70%ofyourinvestment.

Wedon’tpayyourIGConsultantasalesbonusonreinvestedDistributions.

TheamountofthesalesbonusandthetrailingcommissionsvaryamongIGConsultantsdependingonvariousfactorsthatmayinclude,butarenotlimitedto,assetsserviced,salesvolumes,lengthofserviceandprofessionalqualifications.Wemaychangetheseamountsatanytimewithoutpriornotice.

Other incentivesThePrincipalDistributorsmayfromtimetotimereimburseyourIGConsultantforall,oraportionof,hisorhermarketingcosts,includingadvertising.ThePrincipalDistributorsmayalsopayalloraportionofthecostforyourIGConsultanttoattendeducationalorbusinesscoursesorconferencesthattheysponsor,includingannualbusinessconferences.ThePrincipalDistributorsmayalsopayprizeawardsandperformancebonusestoyourIGConsultant,orprovidecreditsthatmaybepaidincashorusedtowardsavarietyofbusiness,benefitandeducation-relatedexpenses,basedonthedollaramountofthevariousproductsandinvest-mentsdistributedorservicedbytheIGConsultantduringtheyear,aswellasbonusesforcareerachievementssuchasobtaininganeducationaldesignationorlicence,orforprogramcompletion.SomeprizesandbonusespaidforIGWealthManagementFundsmaybehigherthanthosepaidforotherproducts.Also,yourIGConsultantmayown,directlyorindirectly,sharesofIGMFinancialInc.

Dealer compensation from management feesApproximately48%ofthemanagementfeesearnedfromIGWealthManagementFundsinthecalendaryearendedDecember31,2018,wasspentbythePrincipalDistributorstooffsetthecostofcommissions,salesbonuses,marketingandeducationalconferences,andotherpromotionalexpensesofthePrincipalDistributors.

Income tax considerations for investorsThissummarytakesintoaccountthecurrentprovisionsoftheTaxActandtheregulationsthereunder,aswellasallpubliclyannouncedproposalsbytheMinisterofFinancetoamendtheTaxActandregulationsasofthedatehereof.ThissummaryalsotakesintoaccountthecurrentpublishedadministrativepracticesandpoliciesoftheCanadaRevenueAgency.Thissummarydoesnottakeintoaccountprovincialorforeignincometaxlegislationorconsiderations.

ThissectionisageneralsummaryofhowyourinvestmentintheFundistaxed.ItassumesyouareanindividualresidentinCanada(otherthanatrust)dealingatarm’slengthwiththeFundandyouholdyourinvestmentascapitalproperty.TheFundisexpectedtoqualifyretroactivelytoitsinitialdateofdistributionasamutualfundtrustfortaxpurposesand,assuch,willbeaqualifiedinvestmentforRegisteredPlans.Forthepurposesofthissummary,itisassumedthattheFundwillcontinuetoqualifyasamutualfundtrustinthefuture.Thissummarydoesnotdealwithallpossibletaxconsiderations.Therefore,please consult with your tax advisor about your own circumstances.

If you have a Registered PlanIfyouholdyourinvestmentinaRegisteredPlan,ingeneralyoudon’thavetopayanytaxesonincomeorcapitalgainspaidtoyourRegisteredPlan;however,amountswithdrawnfromtheRegisteredPlanmaybesubjecttotax.Pleaseconsultwithyourtaxadvisoraboutthesespecialrules.

IfUnitsoftheFundarea“prohibitedinvestment”foryourTFSA,RRSPand/orRRIFthatacquireUnits,youmaybesubjecttoapenaltytaxassetoutintheTaxAct.A“prohibitedinvestment”mayincludeaUnitoftheFund,ifyouhaveasignificantinterest,whichingeneraltermsmeanstheownership,eitheraloneortogetherwithpersonsandpartnershipswithwhomyoudonotdealatarm’slength,of10%ormoreoftheFund.However,UnitsoftheFundwillnotbea“prohibitedinvestment”foranyTFSA,RRSPand/orRRIFatanytimebeforetheendofthe24-monthperiodthatbeginsonthefirstdayofthetaxationyearoftheFund,providedthattheFundqualifiesasamutualfundtrustandcomplieswiththeNationalInstrumentduringsuchtime.Pleaseconsultwithyourtaxadvisorinthisregard.

If you have an investment outside a Registered PlanIfyouholdyourinvestmentoutsideaRegisteredPlan,youhavetoreporttheDistributions(otherthanreturnofcapitalDistributions)youreceiveonyourincometaxreturn.FormoreinformationonDistributions,seeAutomatic reinvest-ment of Distributions.

YouwillreceiveataxslipeachyearthatshowsyourshareofyourFund’sDistributionsof:

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• dividendsfromCanadiancorporationsincluding“eligibledividends”;

• capitalgains;• otherincome,includingdistributionsofforeigndividendsreceivedbytheFund;and

• returnofcapital.

Generally,whereaDistributiontoyouexceedsyourshareoftheFund’snetincomeandnetcapitalgains,theexcesswillbeconsideredtobeareturnofcapital,unlesstheFundelectstoconsideralloraportionofthatDistributiontobeincome.Youwillnotbetaxedonareturnofcapital,butitwillreducetheadjustedcostbaseofyourUnitsunlesstheDistri-butionisreinvested.IfareturnofcapitalDistributionreducestheadjustedcostbaseofyourUnitssothatitbecomesanegativeamount,youwillbedeemedtorealizeacapitalgainequaltosuchamount,andtheresultingnegativecostbaseofyourUnitswillbeincreasedbacktozero.

ThehighertheFund’sPortfolioTurnoverRate,thegreaterthechancethattheFundwillincurcapitalgainsorcapitallosses,andthegreaterthechancethatyouwillreceiveataxablecapitalgainsDistributionduringtheyear.IfanUnderlyingFundmakesacapitalgainsDistribution,thismayincreasethechancethatyouwillreceiveataxablecapitalgainsDistributionfromtheapplicableTopFundduringtheyear.

IfyouredeemUnits(includingswitchesbetweenIGWealthManagementFunds),youwilllikelyrealizeacapitalgain(oracapitalloss).One-halfofanycapitalgain(orcapitalloss)mustbeincludedindeterminingyourtaxablecapitalgains(orallowablecapitallosses)intheyear.

AcapitalgainariseswhentheamountyoureceivefromtheredemptionorswitchesbetweenIGWealthManagementFundsexceedstheadjustedcostbaseofthoseUnitsandanycostsoftheredemptionorswitch(includingredemptionfees).Acapitallossarisestotheextentthattheadjustedcostbaseandcostofredemptionorswitchexceedtheamountyoureceive.

TheadjustedcostbaseperUnitofaSeriesoftheFundisgenerallytheamountyouhavepaidforallofyourUnitsofthatSeriesintheFund,dividedbythenumberofUnitsofthatSeriesyouownintheFund.ThisincludestheadjustedcostbaseofUnitsofthatSeriesyouownedpreviouslyintheFund,togetherwithsaleschargesandanyreinvested

Distributions,lessanyDistributionstreatedasareturnofcapitalandlesstheadjustedcostbaseofpreviouslyredeemedUnitsofthatSeriesintheFund.

TheFundtypicallymakesDistributionsofincomeandnetrealizedcapitalgainsannuallyinDecemberofeachyear.IfyoubuyUnitsjustbeforeaDistribution,youmayhavetopaytaxonincomeearnedandnettaxablecapitalgainsofyourFundbeforeyoupurchasedyourUnits.ThisincomeorcapitalgainwillbeaddedtotheadjustedcostbaseofyourUnitsonthereinvestmentoftheDistribution.

Deductibility of Series U Advisory FeesTheadvisoryfeespaidforSeriesUUnitsheldoutsideaRegisteredPlanwillgenerallybedeductibleforincometaxpurposes.AdvisoryfeesfortheseSeriesheldinaRegisteredPlanwillnotbedeductibleforincometaxpurposes.Pleaseconsultwithataxadvisoraboutthedeductibilityoftheseadvisoryfees.

What are your legal rights?Securitieslegislationinsomeprovincesandterritoriesgivesyoutherighttowithdraw(the“WithdrawalRight”)fromanagreementtobuyunitsofmutualfundswithintwoBusinessDaysofreceivingtheSimplifiedProspectusorFundFacts,ortocancelyourpurchasewithin48hoursofreceivingconfirmationofyourorder.

Securitieslegislationinsomeprovincesandterritoriesalsoallowsyoutocancelanagreementtobuyunitsofmutualfundsandgetyourmoneyback,ortomakeaclaimfordamages,iftheSimplifiedProspectus,AnnualInformationForm,FundFactsorfinancialstatementsmisrepresentanyfactsaboutthemutualfund(the“MisrepresentationRight”).Theserightsmustusuallybeexercisedwithincertaintimelimits.

IfyousetupaPACintoyourFund,youwillnothaveaWithdrawalRightforyourpurchasesotherthaninrespectofyourinitialpurchase,unlessyourequesttoreceivethemostrecentcopyoftheFundFactsofyourSeriesoftheFundannually,butyouwillhaveaMisrepresentationRightwhetherornotyoureceiveannuallythemostrecentcopyoftheFundFacts.

Formoreinformation,refertothesecuritieslegislationofyourprovinceorterritory,orconsultyourlawyer.

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Specific information about the Fund

ThispartoftheSimplifiedProspectuscontainsspecificinfor-mationabouttheFund.ThedescriptionisorganizedintosectionstomakeiteasierforyoutocomparetheFundtootherIGWealthManagementFunds.Here’sanoverviewoftheinformationyou’llfindineachsection.

1 Fund detailsTheFundmayissueanunlimitednumberofmutualfundUnits.TheFundoffersatleastoneSeriesofUnitstoretailpurchasers,andmayofferNon-retailSeriesnoworinthefuturewithoutnotice.ExpensesofeachSeriesaretrackedseparatelyandadifferentpriceiscalculatedforeachSeries.Accordingly,eachUnitrepresentsanequal,undividedinterestintheportionoftheFund’snetassetsattributable

tothatSeries.MoredetailscanbefoundunderFees and expensesearlierinthisSimplifiedProspectus.

ThissectionisaquickoverviewoftheFund.Ittellsyou:

• thekindofmutualfunditis;• thelaunchdateforeachSeriesofUnitsofferedunderthisSimplifiedProspectus;

• theeligibilityoftheFundforinvestmentbyRegisteredPlans:TheFundisaneligibleinvestmentforRegisteredPlans,butSeriesUdoesnotallowpurchasesbyGroupPlans,RDSPsorRESPs;

• theapplicablefeesoftheFund,whichmaybedifferentforeachSeries.Thesefeesincludemanagementfees,servicefees(ifany)andadministrationfees.Seealsothe

1 Fund details

2 What does the Fund invest in?

3 What are the risks of investing in the Fund?

28 IG BlackRock International Equity Fund

IG BlackRock International Equity Fund

Fund detailsType of fund Global and International Equity

Type of securities Mutual fund trust Units

Date started January 13, 2020 (Series U Units)

Eligible for Registered Plans Yes*

Management fee 0.85%

Administration fee 0.18%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor BlackRock Asset Management Canada Limited (Toronto, Ontario)

* Subject to prohibited investment rules for Registered Plans. See Income tax considerations for investors if you have a Registered Plan.

What does the Fund invest in?Investment objectiveThe Fund aims to provide long-term capital growth through exposure to equity securities of companies outside of Canada and the U.S. The Fund aims to achieve this exposure by investing primarily in Underlying Funds and/or directly in equity securities.

In order to change its investment objective, the Fund needs approval from a majority of its investors who vote at a meeting held for this purpose, unless it is required by law to make the change.

Investment strategiesThe Fund intends to invest up to 100% of its net assets in one or more mutual funds to facilitate the achievement of its investment objective. The mutual fund(s) in which the Fund invests may be changed from time to time without prior notice to investors as long as the investment facilitates achieving the Fund’s investment objective.

At the date of this Simplified Prospectus, BlackRock – IG International Equity Pool (the “Pool”) is an Underlying Fund of the Fund sub-advised by the Sub-advisor. It is expected that the Fund will invest its assets in the Pool or any successor mutual fund(s).

The Pool invests primarily in a diversified selection of large capitalization equity securities from Europe, Australia, Asia and the Far East. In selecting securities, favourable valuation and other fundamental metrics along with market sentiment and macro views are considered.

The Pool may engage in Securities Lending, Repurchase and Reverse Repurchase Transactions, and use Derivatives. These transactions and Derivatives will be used in conjunc-tion with the Fund’s other investment strategies in a manner considered most appropriate to achieving the Fund’s overall investment objectives and enhancing the Fund’s returns as permitted by the securities Rules.

The Fund may also invest directly in equity securities or engage in securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Fund invests directly in equity securities or Derivatives, the Portfolio Advisor will engage the Sub-advisor to follow the same investment strategies as the Pool.

Equity management style

What are the risks of investing in the Fund?The risks that apply to this Fund are explained under What are the risks of investing in a mutual fund? and include:

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l LARGE ORDER RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

1

2

3

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strongcompanieswhosesharepriceisundervaluedcomparedtosimilarcompanies.WhenthePortfolioAdvisororSub-advisorusesablendofthesestyles,itmayprimarilyusebothstylesforaportionoftheFund’sportfolioatthesametime,oritmayswitchbetweenthesestylesfromtimetotimeaccordingtowhatisbestfortheFund.

TheFundmayinvestaportionofitsassetsinanysizecompany,evenifonlyoneortwostyleboxesaremarked.SincethePortfolioinvestsprimarilyinotherIGWealthManagementFunds,and/ordirectlyindebtinstruments,itsinvestmentmanagementstyleisnotrelevant.

TheIGWealthManagementFundsfollowthestandardinvestmentrulesformutualfunds(the“Rules”)unlesstheyhavepermissionfromthesecuritiesauthoritiestodeviatefromtheseRules.InthissectionwewilldiscloseiftheFundhaspermissiontodeviatefromtheRules.

InkeepingwiththeRules,theFundmayalsoholdcashandcash-likeinvestmentssuchasgovernment-issuedtreasurybillsandothermoneymarketinstruments,toagreaterorlesserextent.TheFundmayalsoholdcashforpaymentofredemptions,andtopurchaseinvestments.Theamountthatisheldintheseshort-termdebtinstruments,andascash,willdependonwhatisdeterminedtobeinthebestinterestsoftheFundgivenprevailingmarketconditions,availableinvestmentopportunities,andtheanticipatedcashavailableforinvestmentbytheFund.ThereisnolimitontheamountoftheseinstrumentsandcashthattheFundcanhold.Ifnecessary,theFundmaytemporarilydepartfromitsinvestmentobjectivesandstrategiesbyinvestinginshort-termdebtinstrumentsandcash.

TheRulesalsopermitanymutualfundtoinvestinothermutualfundsinmostcircumstances.Accordingly,theFundmayalsoinvestinothermutualfunds,includingotherIGWealthManagementFunds,andmutualfundsmanagedbyaffiliatesoftheManager(suchasfundsmanagedbyMackenzieInvestmentsandanyaffiliateofMackenzieInvestments).

Aswell,theIGWealthManagementFundshavereceivedregu-latoryapprovaltoinvestincertainExchange-TradedFunds(ETFs)managedbyMackenzienoworinthefuture(eachan“UnderlyingMackenzieETF”),providedthattheinvestmentintheUnderlyingMackenzieETFisinaccordancewiththeinvest-mentobjectivesoftheFund.Subjecttocertainconditions7thisreliefpermitstheIGWealthManagementFunds:

sectionFees and expenses paid by the Fundunder Fees and expenses;

• thenameofthePortfolioAdvisor:MoredetailsaboutourPortfolioAdvisor(s)canbefoundunderOrganization and management of the Fund;and

• thenameofSub-advisor(s)(ifany)hiredtoselectinvest-ments:A Sub-advisor may change or be removed at any time without prior notice if this is deemed to be in the best interests of the Fund. If this occurs the Portfolio Advisor of the Fund may take over the provision of day-to-day investment advisory services, or another Sub-advisor may be retained to provide those services.ThefollowingSub-advisorselectsinvestments,orassistswiththeselectionofinvestments,fortheFund:

Sub-advisor Fund it advises

BlackRockAssetManagementCanadaLimitedof Toronto,Ontario

IGBlackRockInternational EquityFund

2 What does the Fund invest in?ThissectiongivesyouinformationabouttheinvestmentobjectiveandstrategiesoftheFund.TheinvestmentobjectiveinformationdescribesthebasicgoaloftheFundaswellasthetypeofsecuritiesinwhichitmayprimarilyinvest.TheinvestmentstrategiesdetailhowtheFundplanstoachievetheinvestmentobjective.IftheFundisexpectedtohaveaPortfolioTurnoverRate(“PTO”)ofmorethan70%,you’llfindthatinformationhere.ThePTOindicateshowactivelytheFundchangesitsinvestments.Arateof100%isequivalenttotheFundbuyingandsellingallofitssecuritiesonceinthecourseofayear.Thehighertherate,thegreaterthetradingcostspayablebytheFundwilllikelybeintheyear,andthegreaterthechancethattheFundwillrealizecapitalgainsanddeclareacapitalgainsDistributionduringtheyear.ThereisnotnecessarilyarelationshipbetweenahigherPTOandperformance.

IftheFundinvestsinequities,orsecuritiesthatprovideEquityIncome,we’veincludedmanagement-styleinformationwhichshowsyouwhetheritsinvestmentsareselectedprimarilyusingagrowthstyleoravaluestyle,orablendofboth.ItalsoshowsyouwhethertheFundtendstofocusitsinvestmentsonlarge,mediumorsmallCapitalizationcompanies.AgrowthstylemeansthattheFundtriestoinvestincompaniesthataregrowingfastandwhosesharepriceisexpectedtoalsogrowfasteventhoughthecompanymaynotyetbeprofitable.AvaluestylemeansthattheFundtriestofindfundamentally

7 Theseconditionsincludethat:anIGWealthManagementFundnotsellsecuritiesofanUnderlyingMackenzieETFshort;theUnderlyingMackenzieETFnotbeacommoditypoolgovernedbyNI81-104CommodityPools;theUnderlyingMackenzieETFmustcomplywiththerequirementsoftheRuleregardingthepurchaseofphysicalcommodities,theuseofspecifiedderivatives,andwithrespecttotheuseofleverageunlessithasobtainedanyexemptiverelieffromtheserequire-ments;andtheinvestmentbyanIGWealthManagementFundinsecuritiesofanUnderlyingMackenzieETFismadeincompliancewiththefund-of-fundinvest-mentrequirementsintheRule,withtheexceptionof:(1)therequirementfortheUnderlyingMackenzieETFtofileasimplifiedprospectuspreparedinaccordancewiththemutualfundprospectusdisclosurerule,and(2)therequirementthattheIGWealthManagementFundnotpayanysaleschargesorredemptionfeesinrespectonlyofbrokeragefeesincurredforthepurchaseandsaleofanUnderlyingMackenzieETFbytheFund.

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(i) topurchaseanUnderlyingMackenzieETFortoenterintoaspecifiedderivativestransactionwithrespecttoanUnderlyingMackenzieETFeventhoughmorethan10%ofthenetassetvalueofaFundwillbeinvested,directlyorindirectly,intheUnderlyingMackenzieETF;

(ii) topurchaseanUnderlyingMackenzieETFsuchthat,afterthepurchase,aFundwouldholdsecuritiesrepresentingmorethan10%ofthevotesattachingtotheoutstandingvotingsecuritiesofthatUnderlyingMackenzieETF;ortheoutstandingequitysecuritiesoftheUnderlyingMackenzieETF((i)and(ii)collectivelyreferredtoasthe“ConcentrationRestriction”);8

(iii) topurchaseandholdanUnderlyingMackenzieETFthatisnotofferedunderasimplifiedprospectuspreparedinaccordancewiththemutualfundprospectusdisclosurerules(referredtoasNI81-101);and

(iv) topaybrokeragecommissionsinrelationtothepurchaseandsaleofanUnderlyingMackenzieETFonarecognizedexchangeinCanada.

TheIGWealthManagementFundsarepermittedtopurchase,sellandholdsecuritiesofcertaincompaniesthataredirectlyorindirectlyrelatedtotheManager(including,butnotlimitedto,PowerCorporationofCanada,PowerFinancialCorporation,Great-WestLifecoInc.,TheCanadaLifeAssuranceCompany,CanadaLifeFinancialCorporationandCanadaLifeCapitalTrustandtheirsubsidiaries),subjecttosupervisionbytheInvestorsGroupFundsIndependentReviewCommittee(the“IRC”).TheIRChasapprovedstandinginstructionsforthoseinvestments.PleaseseeIG Wealth Management Fund GovernanceintheAnnualInfor-mationFormformoreinformation.

AllIGWealthManagementFundsthattradeinSwapswhicharerequiredtobeclearedthroughafuturescommissionmerchantregisteredwiththeU.S.CommodityFuturesTradingCommission,havereceivedexemptiverelieffrom:(i)requirementsinSubsection2.7(1)ofNI81-102thatimposeminimumcreditratingrequirementsonSwapsorontheequivalentdebtoftheCounterpartytoSwaps(ortheirguarantors);(ii)thelimitationinSubsection2.7(4)ofNI81-102thatthemark-to-marketvalueoftheexposureofamutualfundunderitsspecifiedDerivativespositionswithanyoneCounterparty(otherthananacceptableclearingcorporationoraclearingcorporation)notexceed,foraperiodof30daysormore,10%ofthenetassetvalueofthemutualfund;and(iii)therequirementinSubsection6.1(1)ofNI81-102toholdallportfolioassetswithacustodian,inordertopermiteachIGWealthManagementFundtodeposit

cashandotherassetsdirectlywithafuturescommissionmerchantandindirectlywithaclearingcorporationasmargin.AfuturescommissionmerchantestablishedoutsideofCanadamusthaveanetworthinexcessof$50million.TheexemptivereliefalsoappliestotradesmadebyanIGWealthManagementFundwithfuturescommissionmerchantsestablishedinCanadathataremembersofaself-regulatoryorganizationthatisaparticipatingmemberoftheCanadianInvestorProtectionFund.Inallinstances,theamountofmarginalreadyheldbytheapplicablefuturescommissionmerchantmustnotexceed10%ofthenetassetvalueoftheparticularIGWealthManagementFundatthetimeofdeposit.

TheIGWealthManagementFundsmayalsoenterintoSecuritiesLendingTransactions,RepurchaseTransactionsandReverseRepurchaseTransactions,andtheIGWealthManagementFunds(otherthantheMoneyMarketFunds)mayuseDerivativesinconjunctionwiththeirotherinvest-mentstrategiesaspermittedbytheRules,asmorefullyexplainedinthesectionWhat are the risks of investing in a mutual fund?Derivativesmaybeusedto:

• protectagainstlossescausedbychangesinthepricesofsecurities,markets,interestrates,currencyexchangeratesandotherrisks;

• effectivelyincreaseordecreasethematurityofbondsandotherfixedincomesecuritiesintheirportfolio;

• substituteforpurchasingorsellingthedebtonwhichtheDerivativeisbased.ThisallowstheFundtoincreaseordecreaseitsexposuretocertainmarkets,currenciesorsecuritieswithouttradingtheactualshares,bondsorcurrency;

• helpmanagetheriskassociatedwithoneormoreoftheirinvestments;and

• enhancereturns.

Inaddition,thePortfoliomayuseDerivativesinconjunctionwithitsotherinvestmentstrategiesinamannerconsideredmostappropriatetoachievingitsoverallinvestmentobjectiveandenhancingitsreturns,aspermittedbytheRules.PleaseseetheAnnualInformationFormunderIG Wealth Management Fund Governanceformoreinforma-tionaboutSecuritiesLendingTransactions,RepurchaseTransactionsandReverseRepurchaseTransactions,andtheuseofDerivativesbytheFund.

TheTrusteemayimplementmaterialchangesfromtimetotimetobetterenabletheFundtomeetitsinvestmentobjective.AnymaterialchangestotheFund’sfundamental

8 InconnectionwiththeConcentrationRestrictionrequirements,foreachinvestmentinanUnderlyingMackenzieETFtheIGWealthManagementFundmust,totheextentapplicable,limititsindirectholdingsinsecuritiesofanissuerheldbyoneormoreUnderlyingMackenzieETFsasrequiredby,andinaccordancewith,theapplicableprovisionsoftheRule.

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investmentstrategywillbecomeeffectiveonlyafteryouhavebeengivenatleast21dayspriorwrittennotice,andaftertheFund’sSimplifiedProspectus,AnnualInformationFormandFundFactshavebeenrevised(asnecessary)toreflectthechange.

3 What are the risks of investing in the Fund?Riskisoneofthethingsyoushouldthinkaboutwhenyou’redecidingwhethertoinvestinamutualfund.ThissectionliststherisksthatmaybemoreapplicabletotheFund.Somerisksmayarisedependingupontheinvest-mentstrategypursuedbytheFund.Generally,wehavedisclosedrisksthatmayapplyifasignificantportionoftheFund’sassetsmaybeexposedtothatriskfromtimetotime,eventhoughtheFundmaynotactuallyinvestinsecuritiesexposedtothatrisknoworatanygivenpointintime.

Riskscommonlyassociatedwithmostmutualfundsarenotspecificallylisted,including:

• CyberSecurityRisk;• Dilutionrisk;• ETFRisk;• Taxpolicyrisk;• Multi-Seriesrisk;• Unitholderliabilityrisk;• Largeorderrisk(seebelow);and• Riskofnotbeingabletosellyourinvestment.

Ifmorethan10%oftheUnitsoftheFundareheldby(orareexpectedtobeheldby)anyUnitholder(otherthantheManager)(includingbyoneormoreIGWealthManagementFunds,GIFsorIG/GWLSegregatedFunds),thisriskwillbeshownhereasLarge order risk.Pleasenote,however,thatwedonotindicateConcentration riskwhereafundinvestsmorethan10%ofitsassetsinanyUnderlyingFundbecausetheUnderlyingFundsarewelldiversified,unlesstheUnderlyingFunditselfhasConcentration risk.WhereanUnderlyingFundhasLargeorderrisk,theTopFund’sperformancecouldalsobeimpactedwhenthereisalargeredemptionbyaninvestorintheUnderlyingFund.Therefore,thisriskwillbeincludedinthespecificinformationforthatTopFundeventhoughtheremaynotbeanyindividualsecurityholderholdingmorethan10%ofthatTopFund.Similarly,however,asanyIGWealthManagementFundmayinvestinanyoftheFundsafterthedateofthisSimplifiedProspectus,thisriskmayapplyatanytimeevenifthisriskisnotspecificallylistedforaFund.

PleaseseeWho should invest in this Fund? fordetailspertainingtoassessmentofinvestmentrisklevelfortheFund.

AstheinvestmentsheldbytheFundmaychangeeachday,therisksdisclosedarenotlistedorrankedbyorder

ofimportance.YoucanfindinformationabouttheserisksunderWhat are the risks of investing in a mutual fund?

4 Who should invest in this Fund?ThissectiontellsyouthekindofpersonforwhomtheFundismostsuitable.Whenyou’redecidingwhethertopurchasetheFund,youshouldthinkabouthowcomfortableyouarewithriskandhowlongyouwanttokeepyourmoneyintheinvestment.Anyinvestmentyoumakeshouldbeinkeepingwithyourlong-terminvestmentgoals.

Risk Classification MethodologyOnemeasureoftheriskassociatedwithaninvestmentinmutualfundsisthedifferenceintheirreturnsfromyeartoyear(oftenreferredtoas“volatility”).Onthisbasis,ageneralvolatilityriskratingcanbedeterminedfortheFundbasedonitshistoricalperformancesupplementedwherenecessarybythehistoricalperformanceofmutualfundsoracomparableReferenceIndex(orindicesasapplic-able)havingsimilarinvestmentobjectives,strategiesandriskcharacteristics.

ThemethodologyusedtodeterminethevolatilityriskratingoftheFundisthestandardizedinvestmentriskmethodologyasmandatedbytheRulesforallinvestmentfunds.Thismethodologyentailsassessingtherisklevelofeachmutualfundusingafive-categoryscale,rangingfrom“low”to“high”basedonthestandarddeviationofitsreturnsovera10-yearperiod.Therisklevelandstandarddeviationrangesmaychangeinthefuture,andcurrentlyareasfollows:

• Low–0tolessthan6%• LowtoMedium–6%tolessthan11%• Medium–11%tolessthan16%• MediumtoHigh–16%tolessthan20%• High–20%orgreater.

Theseassessmentsarereviewedannually.

TheManagerassessestheFundusingtheserisklevels.Forexample,aninvestorina“low”volatilitymutualfundwithanexpectedannuallong-termreturnof5%canusuallyexpectitsperformancetovarybetween-1%and+11%eachyear,whereasa“high”volatilitymutualfundwiththesamelong-termexpectedreturncanexpectitsperformancetovarybygreaterthan-15%and+25%inanyyear,basedonitspastperformancehistoryassupplemented(wherenecessary)bythatofaReferenceIndexorthepastperform-anceofanotherreasonablycomparableinvestmentfund.(Theexpectedreturnsusedinthisexampleareforillustra-tivepurposesonlyandarenotintendedtorepresenttheexpectedfutureperformanceoftheFund.Pleasekeepinmindthatpastperformancedoesnotnecessarilyindicatefutureperformance.)

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4 Who should invest in this Fund?

5 Distribution policy

6 Fund expenses indirectly borne by investors

TheFund’sinvestmentrisklevelmaybeincreasedifdoingsoisreasonableinthecircumstances.Ifamutualfundhaslessthana10-yearperformancehistory,itsrisklevelisdeterminedusingtheFund’sactualreturnssinceinceptionaugmentedbythereturnsofaReferenceIndexexpectedtoreasonablyapproximatetheFund’sstandarddeviationoverthe10-yearperiod,oralternatively,thepastperformanceofanothermutualfundthattheFundemulatesorthathassubstantiallysimilarinvestmentobjectives,strategiesandriskcharacteristics.

AstheFundisnew,wehaveusedthefollowingReferenceIndicesorreasonablycomparablemutualfundstohelpassessthevolatilityriskoftheFund:

FundReference Index or Comparable Mutual Fund

IGBlackRockInternationalEquityFund

MSCIEAFEIndexTotalReturn(Net)$CAD

TheMSCIEAFETotalReturnIndex(Net)$CADisafreefloat-adjustedmarketcapitalizationweightedindexthatisdesignedtomeasuretheequitymarketperformanceofdevelopedmarketsexcludingtheUnitedStatesandCanada.

Itisalsoimportanttonotethatamutualfund’shistoricalvolatilitymaynotbeindicativeofitsfuturevolatility.Themethodologyusedtoidentifytheinvestmentrisklevelof

29IG BlackRock International Equity Fund

Who should invest in this Fund?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. The investment risk level of this Fund is required to be determined in accordance with a stan-dardized risk classification methodology that is based on the Fund’s historical volatility as measured by the 10-year standard deviation of the returns of the Fund. As the Fund is new, we have used the historical volatility of a reason-ably comparable investment fund for this purpose. Using this methodology, we have classified the Fund as having a medium level of volatility. For more information about this classification and methodology, please see Risk Classifica-tion Methodology under Specific information about the Fund.

You should consider investing in this Fund if you are comfortable with the risks for this investment and:

• your long-term investment goal is capital growth.

Distribution policy The Fund may distribute income and capital gains, if any, to investors usually in December of each year. You may elect to have Distributions paid out to you in cash, as described more fully under Automatic reinvestment of Distributions. (Please see Income tax considerations for investors for tax information.)

Fund expenses indirectly borne by investors As the Fund is new, there is no information available for this section. You can find more information about expenses under Fees and expenses.

5

6

4

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theFundisavailableuponrequest,atnocost,bycontactingtheManagerasindicatedonthebackcoverofthisSimplifiedProspectus.

WhendeterminingwhethertheFundissuitableforyou,itisnotthevolatilityofasingleinvestment,butthatofyourentireportfoliothatshouldbeyourfocusbecausethelevelofvolatilityassociatedwithanymutualfundmaymoderatetheoverallvolatilityriskassociatedwithyourwholeinvestmentportfolio,totheextentthatthevolatilityoftheFundcouldoffsetthevolatilityofotherinvestmentsinyourportfolio.

WhethertheFundissuitableforyouwilldependonyourowncircumstances.YourIGConsultantcanhelpyouevaluatewhetheranyparticularIGWealthManagementFundissuitableforyou.

5 Distribution policyThissectiontellsyouhowoftentheFunddistributesincome,capitalgainsandareturnofcapital.TheamountofDistri-butionstobepaidbyaSeriesmaybeaffectedbythelevelofexpenseschargedtoeachSeriesrelativetothetotalexpensesoftheFund.

TheFundintendstodistributeitsincomeandnetcapitalgainsannuallyinDecember,buttheManagermayelecttodeclareDistributionsmorefrequentlyifthisisdeemedtobeinthebestinterestsoftheFundanditsUnitholders.

Distributionsusuallycomprisenetincome(includinganynetrealizedcapitalgains)andmayalsocompriseareturnofcapitalcomponent.

TotheextentthatDistributionsarecomprisedofreturnofcapital,thismayreducethenetassetvalueoftheFund,whichcouldresultinthedepletionofyourinvestment,andreducetheFund’sabilitytogeneratethesameleveloffutureincome.

DistributionsarealwaysreinvestedintothesameSeries(andpurchaseoption)oftheFund,unless:youaskustopaythemtoyouincashifyourinvestmentisnotheldwithinaRegisteredPlan(andyouhavenotsetupaSWPfromyouraccount).

FormoreinformationaboutDistributions,seeAutomatic reinvestment of Distributions andIncome tax consider-ations for investors.

6 Fund expenses indirectly borne by investorsFundexpensesexcludetheadvisoryfeespaiddirectlybytheUnitholderstothePrincipalDistributorsforSeriesU.AstheFundisnew,thereisnoinformationavailableforthissectionyet.YoucanfindmoreinformationaboutexpensesunderFees and expensesearlierinthisSimplifiedProspectus.

28 IG BlackRock International Equity Fund

IG BlackRock International Equity Fund

Fund detailsTypeoffund GlobalandInternationalEquity

Typeofsecurities MutualfundtrustUnits

Datestarted January13,2020(SeriesUUnits)

EligibleforRegisteredPlans Yes*

Managementfee 0.85%

Administrationfee 0.18%

PortfolioAdvisor I.G.InvestmentManagement,Ltd.

Sub-advisor BlackRockAssetManagementCanadaLimited(Toronto,Ontario)

*SubjecttoprohibitedinvestmentrulesforRegisteredPlans.SeeIncome tax considerations for investorsifyouhaveaRegisteredPlan.

What does the Fund invest in?Investment objectiveTheFundaimstoprovidelong-termcapitalgrowththroughexposuretoequitysecuritiesofcompaniesoutsideofCanadaandtheU.S.TheFundaimstoachievethisexposurebyinvestingprimarilyinUnderlyingFundsand/ordirectlyinequitysecurities.

Inordertochangeitsinvestmentobjective,theFundneedsapprovalfromamajorityofitsinvestorswhovoteatameetingheldforthispurpose,unlessitisrequiredbylawtomakethechange.

Investment strategiesTheFundintendstoinvestupto100%ofitsnetassetsinoneormoremutualfundstofacilitatetheachievementofitsinvestmentobjective.Themutualfund(s)inwhichtheFundinvestsmaybechangedfromtimetotimewithoutpriornoticetoinvestorsaslongastheinvestmentfacilitatesachievingtheFund’sinvestmentobjective.

AtthedateofthisSimplifiedProspectus,BlackRock–IGInternationalEquityPool(the“Pool”)isanUnderlyingFundoftheFundsub-advisedbytheSub-advisor.ItisexpectedthattheFundwillinvestitsassetsinthePooloranysuccessormutualfund(s).

ThePoolinvestsprimarilyinadiversifiedselectionoflargecapitalizationequitysecuritiesfromEurope,Australia,AsiaandtheFarEast.Inselectingsecurities,favourablevaluationandotherfundamentalmetricsalongwithmarketsentimentandmacroviewsareconsidered.

ThePoolmayengageinSecuritiesLending,RepurchaseandReverseRepurchaseTransactions,anduseDerivatives.ThesetransactionsandDerivativeswillbeusedinconjunc-tionwiththeFund’sotherinvestmentstrategiesinamannerconsideredmostappropriatetoachievingtheFund’soverallinvestmentobjectivesandenhancingtheFund’sreturnsaspermittedbythesecuritiesRules.

TheFundmayalsoinvestdirectlyinequitysecuritiesorengageinsecuritiesLending,RepurchaseandReverseRepurchaseTransactionsanduseDerivatives.TotheextenttheFundinvestsdirectlyinequitysecuritiesorDerivatives,thePortfolioAdvisorwillengagetheSub-advisortofollowthesameinvestmentstrategiesasthePool.

Equity management style

What are the risks of investing in the Fund?TherisksthatapplytothisFundareexplainedunderWhat are the risks of investing in a mutual fund?andinclude:

l DERIVATIVESRISK

l EQUITYINVESTMENTRISK

l FOREIGNCURRENCYRISK

l FOREIGNINVESTMENTRISK

l LARGEORDERRISK

l SECURITIESLENDING,REPURCHASEANDREVERSEREPURCHASETRANSACTIONRISK

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

29IG BlackRock International Equity Fund

Who should invest in this Fund?Beforeyouinvestinanymutualfund,youshouldconsiderhowitwouldworkwithyourotherinvestmentsandyourtoleranceforrisk.TheinvestmentrisklevelofthisFundisrequiredtobedeterminedinaccordancewithastan-dardizedriskclassificationmethodologythatisbasedontheFund’shistoricalvolatilityasmeasuredbythe10-yearstandarddeviationofthereturnsoftheFund.AstheFundisnew,wehaveusedthehistoricalvolatilityofareason-ablycomparableinvestmentfundforthispurpose.Usingthismethodology,wehaveclassifiedtheFundashavingamedium levelofvolatility.Formoreinformationaboutthisclassificationandmethodology,pleaseseeRisk Classifica-tion MethodologyunderSpecific information about the Fund.

YoushouldconsiderinvestinginthisFundifyouarecomfortablewiththerisksforthisinvestmentand:

• yourlong-terminvestmentgoaliscapitalgrowth.

Distribution policy TheFundmaydistributeincomeandcapitalgains,ifany,toinvestorsusuallyinDecemberofeachyear.YoumayelecttohaveDistributionspaidouttoyouincash,asdescribedmorefullyunderAutomatic reinvestment of Distributions.(PleaseseeIncome tax considerations for investorsfortaxinformation.)

Fund expenses indirectly borne by investors AstheFundisnew,thereisnoinformationavailableforthissection.YoucanfindmoreinformationaboutexpensesunderFees and expenses.

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Additional information An explanation of some terms used in this Simplified Prospectus

Business DaymeansanydaytheFundisopentoacceptorderstopurchaseorsellUnits.

Capitalizationmeansthevalueofacompany’spubliclytradedstock.Thevalueisdeterminedbymultiplyingthenumberofsharesissuedbythecompanybythepriceofeachshare.Itisasimplewayofcomparingacompany’smarketsizetoothersinthestockmarkets.

Class or Investors Group Corporate Class or Corporate Class FundsmeananyoneormoreofthemutualfundsofferedasseparateclassesofsharesissuedbyInvestorsGroupCorporateClassInc™.

Client Namereferstoinvestmentsregistereddirectlyinthenameoftheinvestorwhoisalsothebeneficialowneroftheinvestments.

Counterpartyreferstotheperson(normallyaninvestmentdealerorfinancialinstitution)withwhomamutualfundentersintoaDerivative,SecuritiesLendingTransaction,RepurchaseTransaction,orReverseRepurchaseTransaction.

Custodian meanstheCanadianImperialBankofCommercethroughCIBCMellonGlobalCustodyServices.

Deadlinereferstothetimebywhichordersmustbereceivedtoobtainthatday’sprice,usuallybeing3:00p.m.CentralTimeorearlieratthediscretionoftheManagerif,forexample,TheTorontoStockExchange(TSX)closesearlieronanyBusinessDay.

Deferred Sales Charge or DSCreferstoUnitsorsharesofanIGWealthManagementFundthatyoupreviouslypurchasedthatmaybesubjecttoaredemptionfeewhenyousell(otherthanwhenyouswitchtoanotherIGWealthManagementFund).ThisoptionisavailableforinvestmentsundertheDSCpurchaseoptioninsomeIGWealthManage-mentFundsmadebeforeJune30,2017,orpursuanttoanautomaticPre-AuthorizedContribution(PAC)arrangementestablishedbeforethatdate,thatyouswitchintotheFundtopurchaseSeriesUundertheDSCpurchaseoption.

Derivativemeansafinancialinstrumentthatderivesitsvaluefromthevalueofanothersecurity,index,economicindicatororotherfinancialinstrument.ExamplesofDeriva-tivesinclude:

• Options,whicharesecuritiesthatgivethemutualfundtheabilitytobuyorsellasecurityatapre-setpriceuntilafuturedate,butthemutualfundneednotelecttodoso.

• Forward Contracts,whicharesimilartooptions,butinsteadtheyrequireamutualfundtopurchaseorsella

securityorcommodityatapre-setpriceatafuturedate,orexchangetheequivalentvalueoftheforwardcontractincash.TheCounterpartywillbeobligedtopaythemutualfundanyincreaseinthevalueofthecontract,orthemutualfundwillbeobligedtopaytheCounterpartyanydecreaseinthevalueofthecontract.

• Future Contracts,whicharestandardizedForwardContractsthattradeonafuturesexchange.

• Swaps,whicharearrangementsunderwhichamutualfundagreestoexchangecashflowsfromdifferentfinancialinstrumentswithanotherparty.Someexamplesincludeaninterestrateswapinwhichamutualfundagreestoexchangeafixedrateofinterestonabondforafloatingrateofinterestonanotherbondofthesameamount,andacreditdefaultswapinwhichapremiumispaidbyamutualfundfortherighttoreceiveapaymentifabondissuercommitscertainspecifieddefaults.

Designated RatingmeansthatthedebtsecuritiesofacompanyorgovernmenthavebeenratedA(oritsequiva-lent),orbetter,byadesignatedratingorganizationoritsaffiliate,andnootherdesignatedratingorganization,oritsaffiliate,havegiventhesamedebtsecuritiesalowerrating,andtherehasbeennoannouncementbyanyratingorganiz-ationoritsaffiliatethattheratingmaybedowngradedtoalowerratingthatisnotaDesignatedRating.

DistributionsarepaymentstheFundmakestoUnitholders.TheFundmayearndividend,interestincomeand/orotherincomefromitsinvestments.TheFundmayalsorealizecapitalgainswheninvestmentsaresoldataprofit.WhentheFundmakesapaymenttoyou,suchasincome(lessexpenses)andnetrealizedcapitalgains,orreturnofcapital,thesepaymentsarecalled Distributions.

Equity Incomereferstoincomereceivedfrominvestmentsdeemedtohaveequity-likecharacteristics.Thismayinclude,butisnotlimitedto,incomefromdividend-payingcommonshares,andpreferredsharesanddistributionsfromrealestateinvestmenttrusts,incomeandroyaltytrusts.Thiscouldalsoincludesecuritiesthatprovideareturnofcapitalorthatcouldbeconvertedintoequitysecurities.

FundmeanstheIGWealthManagementFundofferedinthisSimplifiedProspectus.

Fund CostshasthemeaningasdescribedunderFees and expenses paid by the FundsinthisSimplifiedProspectus.

Group PlanmeansaRegisteredRetirementSavingsPlanoraTax-FreeSavingsAccountthatissponsoredbyanemployer,unionorformalassociationconsistingofatleastfivemembers,whichisadministeredbyatrusteethatisanaffiliateofIGWealthManagement.

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Guaranteed Investment Funds or GIFsreferstothefamilyofsegregatedfundsnamedthe“IG/GWLGuaranteedInvestmentFunds”whichareissuedbyTheGreat-WestLifeAssuranceCompanyandareavailableexclusivelythroughIGConsultants.

Householdincludesindividualsresidingatthesameprimaryresidencewho,generally,areadvisedbythesameIGConsultant,andyoumayelect,inthemannerprescribedbythePrincipalDistributors,toincludeyourparents,grand-parents,childrenand/orgrandchildrennotresidingatthesameprimaryresidenceandinsomecases,corporationsandfoundations.ThePrincipalDistributorhasfulldiscre-tiontorefusetoallowanaccounttobeconsideredpartoftheHouseholdandmaychangeorwaivetheHouseholdrequirementsatitsdiscretion.YouaresolelyresponsibleforensuringthatyourIGConsultantisawareofallpersonsandaccountsthatyouwishtoincludeinyourHousehold,bothnowandinthefuture.

Household InvestmentsincludeinvestmentsmadeandstillheldbyaHouseholdinallIGWealthManagementFunds,GIFs,IG/GWLSegregatedFundsanddiscretionarymanagedaccountsthatmaybeofferedbyIGSI,exceptforpurposesofdeterminingtheadvisoryfeespayableforSeriesUandTu,whereGIFs,IG/GWLSegregatedFunds,investmentsinRDSPSeriesissuedbysomeIGWealthManagementFunds,andseparatelymanagedaccountsarenotincluded.AllinvestmentsheldbyyourHouseholdinaccountswithIGSI(includingseparatelymanagedaccounts)orIGFS,(otherthaninvestmentsinRDSPSeriesissuedbysomeIGWealthManagementFunds),areincludedforpurposesofdeter-miningtheadvisoryfeespayableforSeriesUandTu.

IG/GWL Segregated Fundsreferstothefamilyofsegre-gatedfundsnamed“IG/GWLSegregatedFunds”whichareissuedbyTheGreat-WestLifeAssuranceCompanyandareavailableexclusivelythroughIGConsultants.

IG Wealth Management Funds meanstheFundandanyotherIGWealthManagementsponsoredmutualfundsdistributedthroughyourIGConsultant.

Liquiditymeanstheeasewithwhichamutualfundcanbuyorsellinvestmentsatafairmarketprice.

Management Expense Ratio or MER showsthefeesandoperatingexpensesofeachSeriesasanannualizedpercentageofitsaveragenetassetsforitsfinancialyear.

ManagermeansI.G.InvestmentManagement,Ltd.

Master Declaration of Trust or Master DeclarationmeansthecommonDeclarationofTrustdeclaredbytheTrusteedatedOctober1,2007(asthereafteramended),pursuanttowhichtheFundwasestablished.

Money Market Fundsreferstoanyone,orall,ofthefollowing:

• IGMackenzieCanadianMoneyMarketFund,• IGMackenzieU.S.MoneyMarketFund,and• IGMackenzieCanadianMoneyMarketClass.

National InstrumentmeansNationalInstrument81-102,aregulatoryrulethatgovernstheinvestmentandadministra-tionofmutualfunds.

No-Load or NLmeansyoudon’tpayasaleschargewhenyoubuyUnitsoftheFund,oraredemptionfeewhenyousellthoseUnits.Otherfeesandexpensesstillapply.ThisoptionisavailablebyinvestinginSeriesU.

Nominee HeldreferstoinvestmentsregisteredinthenameoftheapplicablePrincipalDistributor,oritsserviceproviders,onbehalfoftheinvestorwhoisthebeneficialowneroftheinvestment.

Non-retail SeriesreferstoUnitsthatmaybeofferedbyoneormoreoftheFundsfromtimetotimewithoutaprospectusforinvestmentbyIGWealthManagementFundsandotherqualifiedinvestors.

Portfolio Advisorreferstoeitherone,orboth,ofthefollowing(dependingonthecontext):

• I.G.InvestmentManagement,Ltd.(“IGIM”),and• MackenzieInvestmentsEuropeLimited(Dublin,Ireland)(“MIEL”).

Portfolio Turnover Rateindicatestherateatwhichamutualfundchangesitsinvestments.Arateof100%meansthatthemutualfundenteredintotransactionsequivalenttohavingboughtandsolditsentireportfolioonceinayear.

Principal Distributorsreferstoeitherone,orboth,ofthefollowing(dependingonthecontext):

• InvestorsGroupFinancialServicesInc.,and• InvestorsGroupSecuritiesInc.

PromotermeansI.G.InvestmentManagement,Ltd.

Registered PlanreferstowhenaninvestmentisheldwithinapensionplanoranotherplanregisteredundertheTaxAct.ExamplesofRegisteredPlansinclude:

• RegisteredRetirementSavingsPlans(RRSPs)andsimilarRegisteredPlans,including:

– Locked-inRetirementAccounts(LIRAs) – RestrictedLocked-inSavingsPlans(RLSPs),and – Locked-inRegisteredRetirementSavingsPlans(Locked-inRRSPs).

• RegisteredRetirementIncomeFunds(RRIFs)andsimilarRegisteredPlans,including:

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– Locked-inRetirementIncomeFunds(LRIFs) – LifeIncomeFunds(LIFs) – PrescribedRetirementIncomeFunds(PRIFs),and – RestrictedLifeIncomeFunds(RLIFs).

• RegisteredDisabilitySavingsPlans(RDSPs)9

• RegisteredEducationSavingsPlans(RESPs)9

• Tax-FreeSavingsAccounts(TFSAs)• GroupRRSPs,9and• GroupTFSAs.9

Repurchase TransactionmeansanagreementwhereamutualfundsellsasecuritytoaCounterpartyand,atthesametime,agreestobuybackthesamesecurityfromtheCounterpartyatalowerprice,usuallywithinafewdays.Thisallowsthemutualfundtoearnanadditionalreturn.

Reverse Repurchase TransactionmeansanagreementwhereamutualfundbuysasecurityfromaCounterpartyand,atthesametime,agreestosellthesamesecuritybacktotheCounterpartyatahigherprice,usuallywithinafewdays.Thisallowsthemutualfundtoearnanadditionalreturn.

RulesmeanthestandardinvestmentrulesapplicabletoallmutualfundsinCanada,includingthoseintheNationalInstrument,unlessamutualfundhasobtainedregulatoryapprovaltomakeotherinvestments.

Sales TaxesmeanGoodsandServicesTax(GST),HarmonizedSalesTax(HST)andQuébecSalesTax(QST),asapplicable.

Scheduled SellmeansasellofSecuritiesoftheFundsbyautomaticregularredemptionswhereproceedsofthesellareallocatedtothecashpositionofaNomineeHeldaccount.

Scheduled switchmeansatransferbyasystematictrans-actionwherethemoneyismovedfromonefundtoanotherfundwithinthesameaccount,andwherebothfundsbelongtothesamefundcompanyforNomineeHeldaccounts.

Securities Lending Transactionmeansatransactionwheresecuritiesareloanedbyamutualfundinexchangeforafeeandtheloanissecuredbycollateral.

SeriesmeansanyoneormoreoftheparticularclassesofUnitsbeingofferedbytheIGWealthManagementFundsincludingotherretailSeriesthatmaybeofferedinthefutureandanyNon-retailSeries.EachSerieshasitsownfees,expensesandprice.

Sub-advisormeansaninvestmentadvisorretainedbythePortfolioAdvisortoprovideinvestment-relatedservicesinregardstotheFund.

Systematic Transfer and Exchange Program (STEP) meansatransferofIGWealthManagementFundsbyasystematictransactionwherethemoneyismovedfromonefundtoanotherfund,withinthesameaccountoradifferentaccount.

Tax ActmeanstheIncomeTaxAct(Canada)asitmaybeamendedfromtimetotime.

TrusteemeansI.G.InvestmentManagement,Ltd.

Underlying FundreferstotheIGWealthManagementFundorothermutualfundsmanagedbyanaffiliateorassociateoftheManagerinwhichoneormoreIGWealthManagementFund(s)invest,includinganinvestmentbyoneormoreoftheIGWealthManagementPortfoliosandmayalsoincludeexchangetradedfundsmanagedbyMackenzieFinancialCorporation(asthecontextrequires).

UnitholdermeansapersonholdingUnitsofoneormoreoftheFunds.

Units meansanyoneormoreofthemutualfundunitsoftheFundsofferedunderthisSimplifiedProspectus.TheFundmayalsooffernoworinthefuture,withoutnotice,Non-retailSeriesUnitsavailableforpurchaseonlybyqualifiedinvestors(suchastheIG/GWLSegregatedFunds,GIFsandothersegregatedfundsofferedbyTheGreat-WestLifeAssuranceCompany(oritsaffiliates);andotherIGWealthManagementFunds,asapplicable).

9 TheseRegisteredPlansarenoteligibleforInvestmentintheFund.

Simplified ProspectusOffering Series U Mutual Fund Units for IG BlackRock International Equity Fund

Additional information about the Fund is available in the Fund’s documents:

• Annual Information Form;

• The most recently filed Fund Facts;

and when they become available: • The most recently filed annual financial statements;

• Any interim financial statements of the Fund filed after the annual financial statements are filed;

• The most recently filed annual management report of fund performance; and

• Any interim management report of fund performance filed after the annual management report of fund performance is filed.

These documents are incorporated by reference into this Simplified Prospectus, which means that they are legally part of this document, just as if they were printed as part of it. You can get a copy of these documents, at your request, at no cost by:

Writing to IG Wealth Management 447 Portage Avenue Winnipeg, Manitoba R3B 3H5

Calling us toll-free 1.888.746.6344 1.800.661.4578 in Quebec

Asking your IG Consultant

Contacting us at contact-e@investorsgroup.com (English) contact-f@investorsgroup.com (French)

These documents and other information about the Fund such as information circulars and material contracts are also available on our website at www.investorsgroup.com; or at www.sedar.com.

™Trademarks, including IG Wealth Management, are owned by IGM Financial Inc. and licensed to its subsidiary corporations.“Simplified Prospectus” © Copyright Investors Group Inc. 2020 C4276 (01/2020-PW)

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