SIMPLIFIED PROSPECTUS JUNE 30, 2016

Mutual Fund Series A Shares, Series B Shares, Series Jdsc Shares, Series Jnl Shares and Series U Shares of Investors Group Corporate Class Inc.™ Classes

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Simplified Prospectus for the Mutual Fund Series A Shares, Series B Shares, Series Jdsc Shares, Series Jnl Shares and Series U1 Shares of Investors Group Corporate Class Inc.™ ClassesJune 30, 2016Money Market ClassInvestors Canadian Money Market Class1, 2

Balanced ClassInvestors Dividend Class3

Canadian Equity ClassesInvestors Canadian Equity ClassInvestors Canadian Growth ClassInvestors Canadian Large Cap Value ClassInvestors Canadian Small Cap ClassInvestors Canadian Small Cap Growth ClassInvestors Core Canadian Equity ClassInvestors Low Volatility Canadian Equity ClassInvestors Quebec Enterprise ClassInvestors Summa SRITM ClassIG Beutel Goodman Canadian Equity ClassIG FI Canadian Equity ClassIG Fiera Canadian Small Cap ClassIG Franklin Bissett Canadian Equity ClassIG Mackenzie Canadian Equity Growth Class

U.S. Equity ClassesInvestors Core U.S. Equity ClassInvestors U.S. Large Cap Value ClassInvestors U.S. Opportunities ClassInvestors U.S. Small Cap ClassIG AGF U.S. Growth ClassIG FI U.S. Large Cap Equity ClassIG Putnam Low Volatility U.S. Equity ClassIG Putnam U.S. Growth Class

Global & International Equity ClassesInvestors European Equity ClassInvestors European Mid-Cap Equity ClassInvestors Global ClassInvestors Greater China ClassInvestors International Equity ClassInvestors International Small Cap ClassInvestors Low Volatility Global Equity ClassInvestors North American Equity ClassInvestors Pacific International ClassInvestors Pan Asian Equity ClassIG AGF Global Equity ClassIG Mackenzie Cundill Global Value ClassIG Mackenzie Emerging Markets ClassIG Mackenzie Ivy European ClassIG Mackenzie Ivy Foreign Equity ClassIG Templeton International Equity Class

Global Sector ClassesInvestors Global Consumer Companies ClassInvestors Global Financial Services ClassInvestors Global Health Care ClassInvestors Global Infrastructure ClassInvestors Global Natural Resources ClassInvestors Global Science & Technology ClassIG Mackenzie Global Precious Metals Class

Allegro Corporate Class Portfolios™Allegro Income Balanced Portfolio Class4

Allegro Balanced Portfolio Class4

Allegro Balanced Growth Portfolio Class4

Allegro Balanced Growth Canada Focus Portfolio Class4

Allegro Growth Portfolio ClassAllegro Growth Canada Focus Portfolio Class

Maestro Portfolio ClassesMaestro Income Balanced Portfolio Class4

Maestro Balanced Portfolio Class4

Maestro Growth Focused Portfolio Class4

1 Series U Shares and Series Tu Shares are offered under a No-load purchase option only for direct investments (switches into Series U Shares and Series Tu Shares from DSC purchase option Shares or units are allowed but the redemption fee schedule continues for such Shares or units).

2 This Class does not offer Series Jdsc Shares, Series Jnl Shares nor Series U Shares.3 Another retail Series is available for this Class under a separate simplified prospectus.4 These Classes also offer Series Tdsc Shares, Series Tnl Shares, Series TJdsc Shares, Series TJnl Shares and Series Tu Shares.

No securities regulatory authority has expressed an opinion about these Shares and it is an offence to claim otherwise.The Shares described in this document are not registered with the U.S. Securities and Exchange Commission. The Shares will be offered in the United States under an exemption from registration.

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General information about the Classes . . . . . . . . . . . . . . . 4Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

What is a mutual fund and what are the risks of investing in a mutual fund? . . . . . . . . . . . . . 4

What is a mutual fund? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4What are the risks of investing in a mutual fund? . . . . . . . . 4Concentration risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Credit risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Derivatives risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Dilution risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Distribution adjustment risk . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Equity investment risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Fixed income investment risk . . . . . . . . . . . . . . . . . . . . . . . . . . 6Foreign currency risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Foreign investment risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Interest rate risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Large order risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Multi-class and corporate risk . . . . . . . . . . . . . . . . . . . . . . . . . . 7Real property investment risk . . . . . . . . . . . . . . . . . . . . . . . . . . 7Risk of not being able to sell your investment . . . . . . . . . . . 7Securities Lending, Repurchase and Reverse

Repurchase Transaction risk . . . . . . . . . . . . . . . . . . . . . . . . . . 7Specialization risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Tax policy risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8U.S. tax risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Organization and management of the Investors Group Corporate Class Inc.™ Classes . . . . . . . . . . . . . . . . 9

Manager, Registrar and Promoter. . . . . . . . . . . . . . . . . . . . . . . 9Portfolio Advisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Principal Distributors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Custodian . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Securities Lending Agent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Auditor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Investors Group Funds Independent

Review Committee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Purchases, switches and redemptions . . . . . . . . . . . . . . . . 11Buying Shares of the Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Purchase options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Minimum initial investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Selling Shares of the Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Switching between Investors Group Funds . . . . . . . . . . . . . . 15Switches to Investors Real Property Fund . . . . . . . . . . . . . . . 16Short-term trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Optional services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Registered Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Automatic regular investments

by Pre-Authorized Contributions (PACs) . . . . . . . . . . . . . . . 17Automatic regular redemptions

by Systematic Withdrawal Plan (SWP) . . . . . . . . . . . . . . . . . 17Automatic switching by Systematic Transfer

and Exchange Plan (STEP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Automatic reinvestment of Dividends

(all Series except Fixed Distribution Series) . . . . . . . . . . . . 19Return of capital distributions and

Dividends on Fixed Distribution Series (except for Investors Dividend Class) . . . . . . . . . . . . . . . . . . 19

Return of capital distributions and Dividends for the Fixed Distribution Series of Investors Dividend Class . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Investors Group Charitable Giving Program . . . . . . . . . . . . . 19

Fees and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Fees and expenses paid by the Classes. . . . . . . . . . . . . . . . . . 20Fees and expenses paid by you. . . . . . . . . . . . . . . . . . . . . . . . . 22Impact of sales charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Dealer compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23Payments to your Investors Group Consultant . . . . . . . . . . . 23Other incentives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

Dealer compensation from management fee . . . . . . . . . . 24

Income tax considerations for Shareholders . . . . . . . . . . 24Tax status of the Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24Tax status of the Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . 25 If you have an account outside a Registered Plan . . . . . . . 25 If you hold Shares in a Registered Plan . . . . . . . . . . . . . . . . 26 Deductibility of advisory fee . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Table of Contents

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What are your legal rights? . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Specific information about each of the Classes . . . . . . . . 27

Money Market Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33Investors Canadian Money Market Class . . . . . . . . . . . . . . . . 34

Balanced Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37Investors Dividend Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Canadian Equity Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41Investors Canadian Equity Class . . . . . . . . . . . . . . . . . . . . . . . . 42Investors Canadian Growth Class . . . . . . . . . . . . . . . . . . . . . . . 44Investors Canadian Large Cap Value Class . . . . . . . . . . . . . . . 46Investors Canadian Small Cap Class . . . . . . . . . . . . . . . . . . . . 48Investors Canadian Small Cap Growth Class . . . . . . . . . . . . . 50Investors Core Canadian Equity Class . . . . . . . . . . . . . . . . . . . 52Investors Low Volatility Canadian Equity Class . . . . . . . . . . . 54Investors Quebec Enterprise Class . . . . . . . . . . . . . . . . . . . . . . 56Investors Summa SRI™ Class . . . . . . . . . . . . . . . . . . . . . . . . . . . 58IG Beutel Goodman Canadian Equity Class . . . . . . . . . . . . . . 60IG FI Canadian Equity Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62IG Fiera Canadian Small Cap Class . . . . . . . . . . . . . . . . . . . . . . 64IG Franklin Bissett Canadian Equity Class . . . . . . . . . . . . . . . 66IG Mackenzie Canadian Equity Growth Class . . . . . . . . . . . . 68

U.S. Equity Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71Investors Core U.S. Equity Class . . . . . . . . . . . . . . . . . . . . . . . . 72Investors U.S. Large Cap Value Class . . . . . . . . . . . . . . . . . . . . 74Investors U.S. Opportunities Class . . . . . . . . . . . . . . . . . . . . . . 76Investors U.S. Small Cap Class . . . . . . . . . . . . . . . . . . . . . . . . . 78IG AGF U.S. Growth Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80IG FI U.S. Large Cap Equity Class. . . . . . . . . . . . . . . . . . . . . . . . 82IG Putnam Low Volatility U.S. Equity Class . . . . . . . . . . . . . . 84IG Putnam U.S. Growth Class . . . . . . . . . . . . . . . . . . . . . . . . . . . 86

Global & International Equity Classes . . . . . . . . . . . . . . . . . 89Investors European Equity Class . . . . . . . . . . . . . . . . . . . . . . . . 90Investors European Mid-Cap Equity Class . . . . . . . . . . . . . . . 92Investors Global Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94Investors Greater China Class . . . . . . . . . . . . . . . . . . . . . . . . . . 96Investors International Equity Class . . . . . . . . . . . . . . . . . . . . 98Investors International Small Cap Class . . . . . . . . . . . . . . . . . 100

Investors Low Volatility Global Equity Class . . . . . . . . . . . . . 102Investors North American Equity Class . . . . . . . . . . . . . . . . . . 104Investors Pacific International Class . . . . . . . . . . . . . . . . . . . . 106Investors Pan Asian Equity Class . . . . . . . . . . . . . . . . . . . . . . . 108IG AGF Global Equity Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110IG Mackenzie Cundill Global Value Class . . . . . . . . . . . . . . . . . 112IG Mackenzie Emerging Markets Class . . . . . . . . . . . . . . . . . . . 114IG Mackenzie Ivy European Class . . . . . . . . . . . . . . . . . . . . . . . 116IG Mackenzie Ivy Foreign Equity Class . . . . . . . . . . . . . . . . . . . 118IG Templeton International Equity Class . . . . . . . . . . . . . . . . 120

Global Sector Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123Investors Global Consumer Companies Class . . . . . . . . . . . . 124Investors Global Financial Services Class . . . . . . . . . . . . . . . . 126Investors Global Health Care Class. . . . . . . . . . . . . . . . . . . . . . 128Investors Global Infrastructure Class . . . . . . . . . . . . . . . . . . . . 130Investors Global Natural Resources Class . . . . . . . . . . . . . . . 132Investors Global Science & Technology Class . . . . . . . . . . . . 134IG Mackenzie Global Precious Metals Class . . . . . . . . . . . . . . 136

Allegro Corporate Class Portfolios™ . . . . . . . . . . . . . . . . . . 139Allegro Income Balanced Portfolio Class . . . . . . . . . . . . . . . . 140Allegro Balanced Portfolio Class . . . . . . . . . . . . . . . . . . . . . . . . 143Allegro Balanced Growth Portfolio Class . . . . . . . . . . . . . . . . 146Allegro Balanced Growth Canada Focus Portfolio Class . . . 149Allegro Growth Portfolio Class . . . . . . . . . . . . . . . . . . . . . . . . . . 152Allegro Growth Canada Focus Portfolio Class . . . . . . . . . . . . 154

Maestro Portfolio Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157Maestro Income Balanced Portfolio Class . . . . . . . . . . . . . . . 158Maestro Balanced Portfolio Class . . . . . . . . . . . . . . . . . . . . . . . 161Maestro Growth Focused Portfolio Class . . . . . . . . . . . . . . . . 164

Additional information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167

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IntroductionThis Simplified Prospectus* contains selected important information to help you make an informed investment decision about investing in the Classes listed on the cover of this Simplified Prospectus and to assist you in under-standing your rights as an investor.

This document is divided into two parts. The first part contains general information applicable to all of the Investors Group Corporate Class Inc.™ Classes. The second part contains specific information about each of the Classes described in this document.

The Classes listed on the cover of this Simplified Prospectus are classes of Shares of Investors Group Corporate Class Inc.™ (sometimes referred to as the “Corporation”). Investors Group Corporate Class Inc.™ has separate Classes of Shares and separate Series of each Class. Each Class of Shares of the Corporation (other than the common shares of the Corporation) is a separate mutual fund having specific investment objectives and is specifically referable to a separate portfolio of investments.

The Classes may also offer Non-retail Series of Shares that are not available for purchase by retail investors and are not being offered under this document. A separate Share price is calculated for each Series. The Non-retail Series of Shares may have lower fees and expenses and are intended to avoid the duplication of fees and expenses payable by qualified investors. Additional new Series may be offered at any time in the future without prior notice to you.

Additional information about the Classes is available in the following documents:

• the Annual Information Form;• the most recently filed Fund Facts;• the most recently filed annual financial statements;• any interim financial reports of the Classes filed since the

annual financial statements were 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.

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 (when they become available) at your request at no cost by:

• writing to Investors Group, 447 Portage Avenue, Winnipeg, Manitoba R3B 3H5;

• calling toll-free 1-888-746-6344 or, in Quebec, by calling 1-800-661-4578;

• asking your Investors Group Consultant; or• contacting us at contact-e@investorsgroup.com (for

service in English) or contact-f@investorsgroup.com (for service in French).

These documents and other information about the Classes are also available:

• on our website at www.investorsgroup.com; or• at www.sedar.com.

What is a mutual fund and what are the risks of investing in a mutual fund?What is a mutual fund?A mutual fund is a convenient way for persons with similar investment goals to combine their money. The mutual fund uses this money to buy different types of investments on behalf of all of the investors. When it buys investments, it follows its investment objective and investment strategies. The investors share in any profits a mutual fund makes or losses it suffers.

Investors can find the investment objectives and investment strategies of each of the Classes under Specific information about each of the Classes.

What are the risks of investing in a mutual fund?There are many potential advantages of investing in mutual funds, but there are also several risks you should know about.

Investing in mutual funds is not like putting your money in a savings account. Unlike a savings account or a Guaran-teed Investment Certificate, the Canada Deposit Insurance Corporation or any other government deposit insurer does not insure mutual fund shares.

The value of a mutual fund changes each day as the value of its investments change. As a result, when you sell shares of a mutual fund, you may receive less than the amount you invested when you bought the shares. Your investment is not guaranteed.

General information about the Classes

* In this Simplified Prospectus, you and your mean the person who invests in a Class. We, us, our and Investors Group mean any one of Investors Group Inc. and its subsidiaries, including the Manager, Portfolio Advisors or Principal Distributors, as appropriate. References to “Investors Group Consultant” or “Consultant” mean “Investors Group Representative” in Quebec. Some terms used in this Simplified Prospectus are explained under Additional information.

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their securities or even pay back the mutual fund’s original investment. There is also the risk that the value of debt securities (especially lower-rated debt securities) may fall if the market determines that a higher return is necessary to compensate for the increased risk of owning those securities. A downgrade in an issuer’s credit rating or other adverse news about the issuer can also reduce the value of its fixed income securities. In addition, the value of certain investments (including asset-backed and mortgage-backed securities) may be influenced by the market’s perception of the creditworthiness of these securities, the parties involved in structuring the investment or the underlying assets them-selves. Credit risk may also apply to some Derivatives; please see Derivatives risk below.

l DERIVATIVES RISK

Generally, all mutual funds, except Money Market Funds, may use Derivatives, but only in the ways allowed by Canadian securities regulators. For example, a mutual fund may use Derivatives to:

• protect against losses caused by changes in the prices of securities, stock markets, interest rates, currency exchange rates or other risks;

• serve as an alternative to investing in actual shares and bonds. This can reduce transaction costs, achieve greater Liquidity, increase or decrease exposure to certain financial markets, or make it easier to adjust a mutual fund’s investments;

• reduce risk by accepting a more certain lower return instead of a less certain higher return;

• effectively increase or decrease the maturity of bonds and other fixed income securities, if any, in the mutual fund’s investments;

• position the mutual fund so that it may profit from declining markets; and

• enhance returns.

There is no guarantee that the use of Derivatives will be effective. Common risks include:

• a Derivative may not always produce the same result as it has in the past;

• depending on market conditions or other factors, a mutual fund may not be able to buy or sell a Derivative to make a profit or limit a loss;

• Derivatives don’t prevent changes in the market value of the investments in a mutual fund’s portfolio or prevent losses if the market value of the investments falls;

• Derivatives can prevent a mutual fund from making a gain if there is an unexpected change in currency exchange rates, stock markets, or interest rates;

The Investment Funds Institute of Canada (“IFIC”) has determined that one measure of the risk associated with an investment in mutual funds is the difference in returns from year to year (often referred to as “volatility”).

When reviewing the volatility of a mutual fund, however, it is important to keep in mind that the level of volatility associ-ated with a mutual fund may moderate the overall volatility risk associated with your whole investment portfolio, to the extent that the volatility of a particular mutual fund could offset the volatility of other investments in your portfolio. Consequently, a mutual fund with a higher volatility may still be suitable for an investor with a lower tolerance for volatility in the context of the investor’s overall investment portfolio. In the specific information section for each Class, we indicate the volatility risk category that most applies to each Class based on its past performance and/or its antici-pated volatility.

The Classes may invest in other Investors Group Funds (called “Underlying Funds”) and the Portfolios may invest in Portfolio Funds (“Underlying Portfolio Funds”) which invest in Underlying Funds. The Underlying Funds invest in invest-ments (like shares and bonds) issued by companies and governments or, in the case of Investors Real Property Fund, in real estate. These investments fluctuate in value which affects the value of each Underlying Fund and any Under-lying Portfolio Fund which invests in Underlying Funds and, in turn, the value of the applicable Class or Portfolio. Accord-ingly, the common investment risks discussed here apply to the Underlying Funds and Underlying Portfolio Funds in which a Class or Portfolio invests and, in turn, can also affect the Class or the Portfolio.

l CONCENTRATION RISK

A mutual fund that has held a large portion of its net assets in any single issuer may be less diversified and may experi-ence larger fluctuations in value that result from the price volatility of that issuer. In addition, a mutual fund may not be able to sell its full investment in that issuer at current prices if there is a shortage of buyers willing to purchase those securities. Consequently, it could be more difficult for the mutual fund to obtain a reasonable price for that issuer’s securities. This risk may not necessarily apply where a mutual fund invests in overnight deposit receipts or notes, which are sometimes held by a mutual fund as a means to enhance the yield on its cash.

l CREDIT RISK

This risk is associated with the possibility that the issuer of fixed income securities (including special purpose vehicles) may not make interest payments as required by the terms of

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A mutual fund may also be exposed to greater risk to the extent that it invests in smaller companies because they are often relatively new and do not have an extensive earnings record, and may not have the financial and other resources or market share of larger more established companies. This may make their securities more volatile. A mutual fund may also be exposed to greater risk if it is more exposed to companies engaged in a specific sector or industry. For example, if a mutual fund has a large exposure to companies engaged in a commodity-focused industry, the value of its securities may be affected by changes in commodity prices which can fluctuate significantly over short periods of time.

l FIXED INCOME INVESTMENT RISK

There are certain general investment risks applicable to fixed income investments in addition to Credit risk and Interest rate risk (see Credit risk and Interest rate risk). The value of fixed income investments may be affected by developments relating to the issuer as well as by general financial, political and economic conditions (aside from changes in the general level of interest rates), and by conditions in the fixed income markets. If a mutual fund purchases investments that represent an interest in a pool of assets (for example, mortgages in the case of mortgage- backed securities), then changes in the market’s perception of the issuers of these investments (or in the value of the underlying assets) may cause the value of these investments to fall.

The ability of a mutual fund to sell a particular fixed income security at its fair value may change from time to time based on prevailing market conditions and perceptions about the issuer or other recent events (such as market disruptions, company takeovers and changes in tax policy or regulatory requirements). This can result in the mutual fund not being able to sell that fixed income security, or having to sell it at a reduced price.

In addition, given that most fixed income securities have a predetermined maturity date, there is a risk that a mutual fund may have to reinvest the principal at lower prevailing market interest rates at maturity. There also exists the risk that certain fixed income securities (such as asset-backed securities) may be prepaid unexpectedly prior to maturity. In either event, there is a risk that the reinvested amounts may provide less income and lower potential for capital gains.

l FOREIGN CURRENCY RISK

If a mutual fund invests in foreign currency or buys invest-ments that are priced in foreign currency, changes in the value of the Canadian dollar compared to the value of foreign currencies may affect the value of the mutual fund.

• Derivatives traded on foreign markets may have a higher risk of default and may be harder to sell than similar Derivatives traded on North American markets;

• there is no guarantee that the other party in a contract will meet its obligations;

• if the other party in a contract or the dealer goes bankrupt, a mutual fund could lose any deposit and unpaid gains on the contract; and

• a mutual fund might not be able to purchase Derivatives if other investors are expecting the same change, such as changes in interest rates, market prices or currency exchange rates.

l DILUTION RISK

When a mutual fund is new, is relatively small in size or has significant cash flows relative to its size, it may be difficult for the portfolio manager to fully invest its assets pursuant to the mutual fund’s investment strategy. This could result in the mutual fund holding a larger than expected proportion of its assets in cash. This could decrease relative perform-ance of any mutual fund in a rising market.

l DISTRIBUTION ADJUSTMENT RISK

Certain Classes may offer Fixed Distribution Series that feature a fixed monthly return of capital distribution deter-mined as a percentage of the net asset value per Share as at December 31st of the preceding year. At the end of each year, the Corporation will determine the percentage of the return of capital distributions for the next year. The Corporation may also adjust the percentage of the return of capital distri-butions during the year or discontinue the return of capital distributions during the year if this is deemed appropriate and in the best interests of one or more of these Classes or the Corporation. In either event, this could result in the percentage of return of capital distributions being lower (or higher) than at the time of your investment.

l EQUITY INVESTMENT RISK

The value of an investment in any company may change if that company’s stock falls with the rest of the stock market, regard-less of the fundamental merits of investing in that particular company. If there is negative news or speculation about a company in which a mutual fund invests, the company’s securities may lose value, regardless of the direction of the market. The value of a company’s equity securities may also be affected by general financial, political and economic condi-tions in places where the company conducts its business. Also, Liquidity may change from time to time based on prevailing market conditions and perceptions about the issuer or other recent events (such as market disruptions, company takeovers and changes in tax policy or regulatory requirements).

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l FOREIGN INVESTMENT RISK

Mutual funds that hold foreign investments may be affected by the following risks:

• changing economic conditions in a particular foreign country may adversely affect the mutual fund;

• there is often less information available about foreign companies and governments, and many of these companies and governments have different accounting, auditing and reporting standards than exist in Canada;

• some foreign stock markets have less trading volume, making it more difficult to buy or sell investments or potentially causing more price volatility;

• the country may impose withholding or other taxes that could reduce the return on the investment or it may have foreign investment or exchange laws that make it difficult to sell an investment; and

• political or social instability and diplomatic developments may adversely affect the investments held by the mutual fund.

l INTEREST RATE RISK

The price of fixed income debt securities fluctuates with movements in market interest rates. If interest rates change, some mutual funds, in particular income funds and balanced funds, are affected and the value of their invest-ments may change. Generally, the values of debt securities fall when interest rates increase. Debt securities with longer maturities will have a greater interest rate risk than invest-ments with shorter maturities.

l LARGE ORDER RISK

This is the risk of lower fund performance associated with a possible redemption requested by a large shareholder of a mutual fund, which may be more likely to occur if a securi-tyholder (such as another investment fund) holds more than 10% of a mutual fund’s shares. If a large redemption order is placed by a securityholder, the mutual fund might have to sell a significant portion of its investments. The mutual fund may be forced to sell investments at unfavourable prices or keep a larger amount of its assets in cash than would otherwise be the case. These conditions could impact performance of the mutual fund. Where other mutual funds invest in Underlying Funds that have Large order risk, their performance could also be affected.

l MULTI-CLASS AND CORPORATE RISK

Each Class has its own investment objective and each Class and Series has its own fees and expenses that are tracked separately. Those expenses will be deducted in calculating the Share value for that Class or Series, thereby reducing

the Share value. If one Class or Series is unable to pay its expenses, the Corporation is legally responsible to pay those expenses and as a result, the Share price of the remaining Classes or Series may be reduced. Further, if the Corpora-tion was to be found liable to any party for any damage not directly attributable to one or more Classes or Series, the Share price of all Classes and Series may be reduced. Every Class has Multi-class and corporate risk.

l REAL PROPERTY INVESTMENT RISK

Certain Investors Group Funds invest a portion of their assets in Investors Real Property Fund. Investors Real Property Fund invests directly in real property. All real property investments are subject to a degree of risk and are affected by various factors, including changes in general economic conditions (such as the availability of long-term mortgage funding) and in local conditions (such as the supply and demand for real estate in an area), the attractiveness of the properties to tenants, competition from other available space and the ability of the owner to provide adequate maintenance. Furthermore, investments in real property are relatively illiquid. This illiquidity will tend to limit the ability of Investors Real Property Fund to respond promptly to changing economic or investment conditions and may also affect its ability to redeem its units. As a result, these Investors Group Funds could experience a similar delay when acting upon redemption requests if redemptions must be funded from the redemption of their holdings in Investors Real Property Fund. These Investors Group Funds intend to maintain or have access to sufficient Liquidity to cover all redemptions in a timely manner so that no delays are experienced under normal circumstances. This risk will also apply to Investors Group Funds that invest in other Investors Group Funds that invest in Investors Real Property Fund.

l RISK OF NOT BEING ABLE TO SELL YOUR INVESTMENT

In exceptional circumstances, we won’t accept any orders to sell Shares of a Class. These circumstances are explained later in the section Purchases, switches and redemptions.

l SECURITIES LENDING, REPURCHASE AND REVERSEREPURCHASE TRANSACTION RISK

Securities Lending Transactions are agreements where a mutual fund lends its securities through an agent to a Counterparty that agrees to return them to the mutual fund with interest. Repurchase Transactions are agreements where a mutual fund sells securities through an agent to a Counterparty, and at the same time agrees to buy the same securities back from the Counterparty at a lower price, usually within a few days. A Reverse Repurchase Transaction is where a mutual fund buys securities from a Counter-party for cash and agrees to sell the securities back to the

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Counterparty at a later date at a higher price. These trans-actions allow the mutual fund to earn a higher return on the securities in its portfolio.

All mutual funds are allowed by the Canadian securities regulators to enter into Securities Lending, Repurchase and Reverse Repurchase Transactions in accordance with the Rules. The most common risk of these transactions is if the Counterparty goes bankrupt, or does not fulfill its obligation to return the securities with interest (in the case of a Secur-ities Lending Transaction), or does not fulfill its obligation to sell the securities (in the case of a Repurchase Trans-action) or to buy back the securities (in the case of a Reverse Repurchase Transaction). If this happens, the mutual fund may suffer a loss. Mutual funds try to reduce this risk in the following ways:

• the Counterparties are required to have a Designated Rating;• the Counterparties must place with the mutual fund

collateral to support their obligations that is at least 102% of the market value of the securities that are loaned to them, or the securities they have agreed to sell back, under a Securities Lending Transaction or a Repurchase Trans-action, respectively;

• the value of this collateral is checked and reset daily;• for a Securities Lending Transaction, the collateral may

include cash and the following “qualified securities”: (a) fixed income or money market instruments issued

or guaranteed by: (i) the Government of Canada or the Government

of a Province of Canada; (ii) the U.S. Government, a U.S. State, a foreign

government or a supranational agency if, in each case, they have a Designated Rating;

(iii) a financial institution that is not the Counter-party or an affiliate of the Counterparty if it has a Designated Rating; or

(b) commercial paper of a company that has a term to maturity of less than 365 days and that has a Desig-nated Rating;

• in addition, for Securities Lending Transactions, the collat-eral may include irrevocable letters of credit issued by a Canadian financial institution other than the Counterparty or an affiliate of the Counterparty if the financial institution has a Designated Rating;

• for a Repurchase Transaction, the collateral must be cash in an amount equal to at least 102% of the market value of the securities sold by the Class;

• for a Reverse Repurchase Transaction, the securities purchased by the mutual fund must have a market value of

at least 102% of the cash paid for them by the mutual fund, and must be “qualified securities” as described above;

• each Securities Lending Transaction cannot be for a period of more than 90 days, but the mutual fund may terminate the transaction at any time and recall the loaned securities;

• each Repurchase Transaction or Reverse Repurchase Transaction cannot be for a period of more than 30 days; and

• the value of all Repurchase Transactions and Securities Lending Transactions cannot exceed 50% of the mutual fund’s net assets, not including the value of the collateral for loaned securities or the cash for sold securities.

l SPECIALIZATION RISK

If a mutual fund invests only in specific countries outside Canada or the United States, or in particular types of invest-ments, commodities, markets or sectors, that mutual fund’s ability to diversify its investments may be limited. This may mean that the mutual fund can’t avoid poor market condi-tions, causing the value of its investments to fall.

l TAX POLICY RISK

All mutual funds may be affected by changes in the tax legislation that affect the entities in which the mutual fund invests or the taxation of mutual funds.

l U.S. TAX RISK

U.S. federal legislation, referred to as the “Foreign Account Tax Compliance Act” (“FATCA”), generally imposes a 30% withholding tax on certain U.S. source payments (including interest and dividends) and gross proceeds from the sale or other disposition of property that can produce U.S. source interest or dividends where certain non-U.S. entities fail to comply with certain information reporting rules. This withholding tax was phased in starting on July 1, 2014 unless the applicable non-U.S. entity complies with certain due diligence and reporting obligations under the intergovernmental agreement in effect between the U.S. and Canada entered on February 5, 2014 (“IGA”). The IGA sets out the obligations imposed by FATCA on Canadian entities, including mutual funds. The Government of Canada enacted legislation on June 19, 2014 in order to implement its obligations pursuant to the IGA effective July 1, 2014 (the “Canadian Legislation”). We are complying with the terms of the IGA and the Canadian Legislation.

In order to comply, we will be required to identify any “U.S. Reportable Accounts” (as defined in the IGA) of the Investors Group Funds, and report certain information on such U.S. Reportable Accounts to the CRA. We may be required to obtain certain information from securityholders in order to

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ascertain their U.S. tax status. If an account is determined to be a “U.S. Reportable Account”, we will be required to provide to the CRA information including the full name, address, taxpayer identification number, information on account balances, and amounts of distribution and redemp-tion payments to the securityholder. Failure to provide the requested information to us may subject a securityholder to be reported to the CRA. Information reported to the CRA is expected in turn to be provided to the Internal Revenue Service. Registered Plans are excluded from the definition of “U.S. Reportable Accounts”.

FATCA is particularly complex and detailed guidance regarding the mechanics and scope of FATCA reporting and withholding is continuing to develop. There can be no assurance as to the timing or impact of any such guidance on future operations of the Investors Group Funds. You should consult your tax advisor regarding the potential impact of the FATCA rules on your investment in an Investors Group Fund.

Organization and management of the Investors Group Corporate Class Inc.™ ClassesThe table below shows the companies responsible for providing important services to the Classes, as well as the functions of the Investors Group Funds Independent Review Committee. IGM Financial Inc. owns, directly or indirectly, all of the companies listed below, except the custodian, the securities lending agent and the auditor.

Role Service provided

Manager, Registrar and PromoterI.G. Investment Management, Ltd.447 Portage AvenueWinnipeg, Manitoba R3B 3H5(“IGIM”)

Manages the overall business and operations of the Classes, and provides or arranges for the day-to-day administrative services for the Classes and maintenance of Shareholder records of the Classes.

Portfolio AdvisorsI.G. Investment Management, Ltd.

I.G. International Management LimitedBrooklawn House, Shelbourne RoadBallsbridgeDublin 4, Ireland(referred to as “IGIM Dublin”)

Provides investment advisory services, including selecting investments or reviewing the selection of investments of Sub-advisors (if any), to the Classes as allocated to them from time to time, currently as set out in Specific information about each of the Classes.

Principal DistributorsInvestors Group Financial Services Inc.Winnipeg, Manitoba

Investors Group Securities Inc.Winnipeg, Manitoba(“IGSI”)

Offers the Classes through its Investors Group Consultants.

Offers the Classes through its Investors Group Consultants or through an Investors Group Securities Inc. Trade Centre.

CustodianCanadian Imperial Bank of Commerce throughCIBC Mellon Global Custody ServicesToronto, Ontario

Holds in custody securities owned by the Classes.

Securities Lending AgentThe Bank of New York MellonNew York, New York, U.S.A.

Administers securities lending arrangements on behalf of the Investors Group Funds.

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a limited amount of an investment available and we or the Sub-advisor want to make the same investment for more than one of the Investors Group Funds or for another client. If this happens, we or the Sub-advisor will allocate the investment fairly to the Investors Group Funds and such other clients. We may change or remove a Sub-advisor at any time without prior notice to you.

If the Portfolio Advisor or a Sub-advisor is located outside of Canada, it may be difficult to enforce any legal rights against the Portfolio Advisor or the Sub-advisor because all, or a substantial portion, of its assets are likely to be outside Canada.

If you own Shares in a Class and a meeting is being held for an Underlying Fund in which that Class invests, the Manager will not vote the securities of the Underlying Fund but may arrange for you to receive all disclosure and notice material prepared in connection with any meetings of the Underlying Fund when deemed appropriate. In such circumstances, you may be given the opportunity to direct the Manager as to how it should vote on your behalf at the meeting.

Role Service provided

AuditorDeloitte LLPWinnipeg, Manitoba

Audits the financial statements of the Classes and provides an opinion on whether or not the annual financial statements are fairly presented in accordance with International Financial Reporting Standards.

Investors Group Funds Independent Review Committee

The mandate of the Investors Group Funds Independent Review Committee (“IRC”) is to review, and provide input on, our written policies and procedures that deal with conflict of interest matters in respect of the Classes, and to review such conflict of interest matters. This includes reviewing trades between Investors Group Funds, as well as the Classes’ holdings, purchases and sales of securities of companies related to the Manager. The IRC may also approve certain mergers involving the Classes, and any change in auditor of the Classes.5

Each member of the IRC is independent of the Manager and any party related to the Manager. The IRC will prepare, at least annually, a report of its activities for Shareholders. This report will be available on our website at www.investorsgroup.com or you may request a copy at no cost to you, by contacting us at contact-e@investorsgroup.com (for service in English) or contact-f@investorsgroup.com (for service in French).

Additional information about the IRC, including the names of its members, is available in the Annual Information Form.

5 The merger or termination of a Class or the appointment of a different auditor for a Class, when approved by the IRC, may occur after the Shareholders receive 60 days prior written notice, provided certain conditions are met.

The Portfolio Advisors provide day-to-day investment advisory services including the selection, purchase and sale of the investments for the Classes. The Corporation may, from time to time without prior notice to you, change the Portfolio Advisor of a Class from IGIM to IGIM Dublin or from IGIM Dublin to IGIM or appoint both IGIM and IGIM Dublin to provide investment advisory services to a Class.

From time to time, we may retain Sub-advisors to help us:

• select investments;• make decisions to buy, sell or hold investments;• develop investment-related strategies; and/or• carry out transactions

for any Investors Group Fund.

Our Sub-advisors make decisions for each Investors Group Fund independent of the decisions they make for other clients. We are completely responsible for each decision made by our Sub-advisors with respect to the Investors Group Funds as required by law. Sometimes there is only

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Purchases, switches and redemptionsThe Share price is the amount you pay to buy, or the amount you receive when you sell, a Share of a Class. Each Series of a Class has its own fees and expenses, so each Series has its own price per Share. To determine the Share price, we calculate the total value of a Class’ assets, minus its liabil-ities, attributable to a Series. Then we divide that amount by the number of issued and outstanding Shares held by the Series investors.

We determine the Share price at the close of each Business Day. If a Class receives your complete instructions to buy or sell Shares of the Class by 3:00 p.m. Central Time, or such earlier time, at the discretion of the Manager, for example, if the Toronto Stock Exchange closes earlier on any Business Day (the “Deadline”), we’ll process your order using the price at the close of business that day. Otherwise, we’ll process your order the next Business Day, using the price at the close of business on that day. All instructions to buy or sell a Class must generally be made through the Principal Distributors.

We won’t accept any orders to buy or sell Shares if we’ve suspended the calculation of the Share price. We may suspend the calculation of the Share price if:

• normal trading is suspended on any exchange on which securities or Derivatives held by a Class are traded, if those securities or Derivatives represent more than 50% by value, or underlying market exposure, of the total assets of a Class without allowance for liabilities, and those securities and Derivatives are not traded on another reasonably prac-ticable alternative exchange;

• we have permission from The Manitoba Securities Commis-sion; or

• we are required to by law.

When a Class invests in Underlying Funds, we may not accept any orders to buy or sell Shares of that Class if we’ve suspended the calculation of the unit price for an Underlying Fund or if the right to redeem units of an Underlying Fund is suspended.

If your investment is in Series U Shares or Series Tu Shares of any Investors Group Fund and you become a non-resident of Canada, you may be required to either redeem your invest-ment or switch it into another Series of the same Class or another Investors Group Fund.

For more details on calculating the Share price, see the Annual Information Form for the Classes.

Buying Shares of the ClassesYou can buy Shares of the Classes from an Investors Group Consultant or through an Investors Group Securities Inc. Trade Centre, but you generally cannot purchase them through any other dealer nor may you transfer Shares of the Classes to an account at another dealer if:

(1) you became an Investors Group client on or after July 1, 2006, unless you are transferring to an account that has been established in the name of a registered charity;

(2) your investment is held in RDSP Series or within an RESP account; or

(3) your investment is held in Series U Shares or Series Tu Shares.

You may request that another Investors Group Consultant who is registered in your province of residence service your account. If you wish to transfer your investment to another dealer, you may have to redeem your Shares and your investment will be subject to any applicable redemption fees and taxes. (Please see Selling Shares of the Classes for more information.)

When you buy Shares of a Class, you usually have to give us complete written instructions and include full payment in Canadian dollars for your Shares with your order, unless your account is Nominee Held, in which event your purchase must be settled within three Business Days.

In the case of purchases of $1 million or more, your order may not be deemed to be received unless the full amount of the payment in cash is received by us by 10:00 a.m. Central Time. If the cash is received after 10:00 a.m., the Class may not accept your order until the next Business Day.

You can also give us instructions to buy Shares over the telephone, or in some circumstances, by other permitted ways if you arrange this in advance with your Investors Group Consultant, provided that suitable payment arrange-ments are in place. If your account is with Investors Group Securities Inc., you may submit a trade request directly through an Investors Group Securities Inc. Trade Centre.

If your cheque is returned because of insufficient money in your bank account or for any other reason, we will sell the Shares that you bought on the next Business Day. If we sell them for more than you paid, the applicable Class keeps the difference. If we sell them for less than you paid, we charge you the difference plus any costs and interest.

We may decline any order to buy Shares within one Business Day of receiving it. If we decline your order, we will promptly return all of your money to you, but no interest is payable.

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Purchase optionsShares of the Classes are available in the following Series: SeriesClass A B Jdsc Jnl Tdsc Tnl TJdsc TJnl U Tu

Investors Canadian Money Market Class 3 3

Investors Dividend Class 3 3 3 3 3 3 3 3 3 3

Investors Canadian Equity Class 3 3 3 3 3

Investors Canadian Growth Class 3 3 3 3 3

Investors Canadian Large Cap Value Class 3 3 3 3 3

Investors Canadian Small Cap Class 3 3 3 3 3

Investors Canadian Small Cap Growth Class 3 3 3 3 3

Investors Core Canadian Equity Class 3 3 3 3 3

Investors Low Volatility Canadian Equity Class 3 3 3 3 3

Investors Quebec Enterprise Class 3 3 3 3 3

Investors Summa SRITM Class 3 3 3 3 3

IG Beutel Goodman Canadian Equity Class 3 3 3 3 3

IG FI Canadian Equity Class 3 3 3 3 3

IG Fiera Canadian Small Cap Class 3 3 3 3 3

IG Franklin Bissett Canadian Equity Class 3 3 3 3 3

IG Mackenzie Canadian Equity Growth Class 3 3 3 3 3

Investors Core U.S. Equity Class 3 3 3 3 3

Investors U.S. Large Cap Value Class 3 3 3 3 3

Investors U.S. Opportunities Class 3 3 3 3 3

Investors U.S. Small Cap Class 3 3 3 3 3

IG AGF U.S. Growth Class 3 3 3 3 3

IG FI U.S. Large Cap Equity Class 3 3 3 3 3

IG Putnam Low Volatility U.S. Equity Class 3 3 3 3 3

IG Putnam U.S. Growth Class 3 3 3 3 3

Investors European Equity Class 3 3 3 3 3

Investors European Mid-Cap Equity Class 3 3 3 3 3

Investors Global Class 3 3 3 3 3

Investors Greater China Class 3 3 3 3 3

Investors International Equity Class 3 3 3 3 3

Investors International Small Cap Class 3 3 3 3 3

Investors Low Volatility Global Equity Class 3 3 3 3 3

Investors North American Equity Class 3 3 3 3 3

Investors Pacific International Class 3 3 3 3 3

Investors Pan Asian Equity Class 3 3 3 3 3

IG AGF Global Equity Class 3 3 3 3 3

IG Mackenzie Cundill Global Value Class 3 3 3 3 3

IG Mackenzie Emerging Markets Class 3 3 3 3 3

IG Mackenzie Ivy European Class 3 3 3 3 3

IG Mackenzie Ivy Foreign Equity Class 3 3 3 3 3

IG Templeton International Equity Class 3 3 3 3 3

Investors Global Consumer Companies Class 3 3 3 3 3

Investors Global Financial Services Class 3 3 3 3 3

Investors Global Health Care Class 3 3 3 3 3

Investors Global Infrastructure Class 3 3 3 3 3

Investors Global Natural Resources Class 3 3 3 3 3

Investors Global Science & Technology Class 3 3 3 3 3

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SeriesClass A B Jdsc Jnl Tdsc Tnl TJdsc TJnl U Tu

IG Mackenzie Global Precious Metals Class 3 3 3 3 3

Allegro Income Balanced Portfolio Class 3 3 3 3 3 3 3 3 3 3

Allegro Balanced Portfolio Class 3 3 3 3 3 3 3 3 3 3

Allegro Balanced Growth Portfolio Class 3 3 3 3 3 3 3 3 3 3

Allegro Balanced Growth Canada Focus Portfolio Class 3 3 3 3 3 3 3 3 3 3

Allegro Growth Portfolio Class 3 3 3 3 3

Allegro Growth Canada Focus Portfolio Class 3 3 3 3 3

Maestro Income Balanced Portfolio Class 3 3 3 3 3 3 3 3 3 3

Maestro Balanced Portfolio Class 3 3 3 3 3 3 3 3 3 3

Maestro Growth Focused Portfolio Class 3 3 3 3 3 3 3 3 3 3

Additional new Series may be offered at any time in the future without prior notice to you. The retail Series of the Classes are described below:

• Series A Shares: For investors who are prepared to pay a redemption fee if they decide to redeem Shares of a Class within seven years of acquisition.

• Series B Shares: For investors who do not want to pay a redemption fee (i.e., a No-load feature) if they decide to redeem Shares of a Class within seven years of acquisition.

• Series Jdsc Shares: For investors who generally have Household Investments of $500,000 or more and who are prepared to pay a redemption fee if they decide to redeem Shares of a Class within seven years of acquisition.

• Series Jnl Shares: For investors who generally have Household Investments of $500,000 or more and who do not want to pay a redemption fee (i.e., a No-load feature) if they decide to redeem Shares of a Class within seven years of acquisition.

• Series Tdsc Shares: For investors who wish to receive a steady, monthly cash flow and who are prepared to pay a redemption fee if they decide to redeem Shares of a Class within seven years of acquisition.

• Series Tnl Shares: For investors who wish to receive a steady, monthly cash flow and who do not want to pay a redemption fee (i.e., a No-load feature) if they decide to redeem Shares of a Class within seven years of acquisition.

• Series TJdsc Shares: For investors who generally have Household Investments of $500,000 or more and who wish to receive a steady, monthly cash flow and who are prepared to pay a redemption fee if they decide to redeem Shares of a Class within seven years of acquisition.

• Series TJnl Shares: For investors who generally have Household Investments of $500,000 or more and who wish to receive a steady, monthly cash flow and who do not want to pay a redemption fee (i.e., a No-load feature) if

they decide to redeem Shares of a Class within seven years of acquisition.

• Series U Shares: For investors who generally have Household Investments of $500,000 or more and agree to pay an advisory fee. Series U Shares are offered under a No-load purchase option only for direct investments (switches into Series U Shares from DSC purchase option Shares or units are allowed but the redemption fee schedule continues for such Shares or units).

• Series Tu Shares: For investors who generally have Household Investments of $500,000 or more, agree to pay an advisory fee and wish to receive a steady, monthly cash flow. Series Tu Shares are offered under a No-load purchase option only for direct investments (switches into Series Tu Shares from DSC purchase option Shares or units are allowed but the redemption fee schedule continues for such Shares or units).

Series B Shares, Series Jnl Shares and Series U Shares are not available for Group RRSP accounts. Series A Shares, Series Jdsc Shares and Series U Shares are not available for Group Tax-Free Savings Accounts (“TFSAs”). Series U Shares are not available for RESPs. Fixed Distribution Series are not available for Registered Plans.

Shares of the Classes are available with two different purchase options, which are the DSC purchase option and the No-load purchase option.

The DSC purchase option is applicable to Series A Shares, Series Jdsc Shares, Series Tdsc Shares and Series TJdsc Shares. These Series may have a redemption fee if you redeem them within seven years of the date of purchase (other than when you switch your investment to another Investors Group Fund under the DSC purchase option). These Shares may have lower fees than Shares purchased under the No-load purchase option (as described in Fees and expenses). This is the only purchase option available for investments in a Class made within a Group RRSP.

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The No-load purchase option is applicable to Series B Shares, Series Jnl Shares, Series Tnl Shares, Series TJnl Shares, Series U Shares and Series Tu Shares, unless you have switched into Series U Shares or Series Tu Shares from DSC purchase option shares or units where the redemption fee schedule for such DSC purchase option shares or units has not expired. This purchase option is the only option available for investments in a Class that are held within a Group TFSA. Series U Shares and Series Tu Shares are not available for Group Plans and RESPs.

You should only purchase Fixed Distribution Series if you want a steady, monthly cash flow from your investment. The cash flow will generally consist of a return of capital to you (for more information, see Tax status of the Shareholders). The level of the monthly return of capital distributions on the Fixed Distribution Series differs for each Class that offers them and is set at the end of each year on or about

The amount of Household Investments includes any current amount being invested.

Once you are eligible to invest directly in a Class or Series, there is a $5,000 minimum initial investment if you open a RRIF or similar Registered Plan.

Once you are eligible to invest directly in a Class or Series, subsequent investments must be at least $50 among all your Investors Group Funds.

We may redeem your investments in any Investors Group Fund if the amount invested in that Investors Group Fund falls below $250, in which event we will return the remaining investment less any redemption fees and withholding tax.

If you no longer meet the minimum of $500,000 of Household Investments for Series Jdsc Shares, Series Jnl Shares, Series TJdsc Shares, Series TJnl Shares, Series U Shares or Series Tu Shares due to one or more redemp-tions by you or members of your Household (other than

redemptions under a SWP or other pre-arranged regular periodic redemptions required by law or redemptions arising from the payment of advisory fees for Series U Shares or Series Tu Shares), we reserve the right, at our discretion, to transfer your investments in these Series to another Series of the same Investors Group Fund which has the same purchase option. Such a transfer would likely result in an increase in fees payable with respect to these investments.

Selling Shares of the ClassesYou must give us complete written instructions to sell your Shares, unless you’ve made arrangements with your Investors Group Consultant to instruct us to sell your Shares over the telephone, or by other permitted ways. If your account is with Investors Group Securities Inc., you may submit a trade request directly through an Investors Group Securities Inc. Trade Centre. You can sell some or all of your Shares, or you can sell a certain dollar amount of Shares. The minimum amount you can sell is $100 worth

Minimum initial investmentBefore you can invest in an Investors Group Fund, you must have Household Investments as follows: Minimum Household Investments of Class or Series or Type of Investment No minimum $15,000 $500,000

Series A, B and T Shares of Portfolios 3

Investors Canadian Money Market Class 3

Group Plan 3

Series A, B and T Shares of Classes other than Portfolios and Investors Canadian Money Market Class 3

Series J, TJ, U and Tu of any Class 3

December 31st for the next year as a percentage of the net asset value per Share of the applicable Fixed Distribution Series Shares. For example, if the net asset value of Series Tnl Shares is $10 per Share at the end of the year and the Corporation sets the level of monthly return of capital distri-butions for the next year at 5%, then the equal monthly return of capital distributions paid by each Series Tnl Share during the following year will total $0.50 per Share (assuming you maintain your investment throughout the year), regardless of the fluctuation in the Series Tnl Share price during the year. Fixed Distribution Series are not available for Registered Plans. (Please note that the monthly distributions of Investors Dividend Class may be a return of capital and/or payment of ordinary Dividends.)

Please see Dealer compensation for information about payments to your Investors Group Consultant with regard to each purchase option.

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of investments from all Investors Group Funds held in the same account.

In certain circumstances, you may pay a fee for inappro-priate short-term trading and/or an excessive switching fee. Refer to the table under Fees and expenses for more details. Also, a withholding tax may apply if you are taking money out of a Registered Plan (other than a TFSA).

When you sell your Shares, we will redeem them and send you the redemption proceeds (in Canadian currency) within three Business Days of the day the Shares are sold, unless:

• we have not received complete instructions from you;• there is missing documentation;• you have not returned any Share certificates you have for

the Shares you are selling;• there are any other applicable restrictions on our records;• your payment for buying the same Shares that you are

selling has not cleared your bank account; or• there is any other reason, with the consent of The Manitoba

Securities Commission, to not process the redemption.

If any of the above conditions apply, we will either repur-chase the Shares that may have been redeemed as part of your redemption request or not process your order. If the redemption proceeds exceed the repurchase amount, the applicable Class will keep the excess. If the redemption proceeds are less than the repurchase amount, we will pay the difference and you will then be required to reimburse us for this amount and for our expenses (including interest).

A redemption fee may apply when you sell Shares purchased under the DSC purchase option. When we receive your instructions to sell Shares of your Class, Shares will generally be redeemed in an order that reduces the potential that redemption fees apply. Accordingly, investments that are not subject to a redemption fee will be redeemed first, followed by those Shares that have the lowest redemption fee.

If your investment is Nominee Held, the redemption proceeds will be paid into the cash position of your account from which you can make a subsequent withdrawal.

At any time you may ask to have your account serviced by another Investors Group Consultant who is registered in your province of residence, but you may not hold your Shares in accounts with a dealer other than the Principal Distributors if:

(1) you became an Investors Group client on or after July 1, 2006, unless you are transferring to an account that has been established in the name of a registered charity;

(2) your investment is held in RDSP Series or within an RESP account; or

(3) your investment is held in Series U Shares or Series Tu Shares.

If you wish to transfer your investment to another dealer, you may have to redeem your Shares and the redemption will be subject to any applicable redemption fees.

Switching between Investors Group FundsWhen you switch, you sell units or shares of one Investors Group Fund to buy units or shares of another Investors Group Fund or another Series of the same Investors Group Fund. When you make an investment by switching between Investors Group Funds or Series, the switch will be subject to any eligibility requirements and minimum investment amounts that usually apply to those purchases, except that you can switch:

• any amount of your investment in one Investors Group Fund to a Class within a Group Plan;

• an investment from your Group Plan in any amount to another Registered Plan investment if you no longer qualify as a member of the Group Plan.

You generally cannot switch Shares purchased under the DSC purchase option for Shares purchased under the No-load purchase option of any Class, however, Shares or units purchased under the DSC purchase option may be switched into Series U Shares or units or Series Tu Shares or units. In such case, the redemption fee schedule continues for such Shares or units.

If you are switching from units or shares of an Investors Group Fund, you can sell units or shares purchased under:

• the DSC purchase option of an Investors Group Fund in order to buy Series A Shares, Series Jdsc Shares, Series Tdsc Shares or Series TJdsc Shares of any Class; and

• the No-load purchase option of an Investors Group Fund to buy Shares of any Series of any Class

(subject to meeting any minimum investment requirements).

Generally, you cannot switch units or shares of an Investors Group Fund purchased on a DSC basis to units or shares of an Investors Group Fund purchased on a No-load basis; however, when you switch from units or shares of an Investors Group Fund purchased on the DSC basis into Investors Canadian Money Market Fund under a STEP (see Automatic switching by Systematic Transfer and Exchange Plan (STEP) under Optional services) set up to facilitate chequing privileges, you must purchase such units under the No-load purchase option and a redemption fee may apply if your investment is still subject to a redemption fee. If you switch from Series C Units of an Investors Group Fund into any Shares of the Classes, you cannot thereafter switch

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back to such units of an Investors Group Fund. You generally cannot switch from a Class to Series C Units of any Investors Group Fund. You can switch from units or shares of an Investors Group Fund purchased on a No-load basis to units or shares of an Investors Group Fund on a DSC basis.

If you switch into a Class from units or shares purchased on a DSC basis of another Investors Group Fund, including another Class or a Guaranteed Investment Fund, which have time remaining during which a redemption fee is payable, the time remaining generally is carried forward to the Shares you acquire on the switch into the Class. If you subsequently switch to another Investors Group Fund, including another Class, the redemption fee period is generally carried forward to the new investment. Accordingly, you may have to pay a fee when you sell such investment. See Fees and expenses for more details.

Please see Income tax considerations for Shareholders for more details about the tax considerations that may arise if you switch your investment between Investors Group Funds.

Switches to Investors Real Property FundInvestors Real Property Fund is an Investors Group Fund which is sold under its own prospectus. It has four types of retail units: Series A units (DSC purchase option), Series C Units (generally, investments prior to July 28, 2003), Series Jdsc units and Series U units. Series C Units and Series U units of Investors Real Property Fund are available only under the DSC purchase option. All switches from a Class will be invested in DSC purchase option Series of Investors Real Property Fund as Investors Real Property Fund does not offer No-load purchase option units, and your investment will be subject to the usual redemption fee schedule applic-able to new purchases.

Also, unlike the other Investors Group Funds which are valued every Business Day, the units of Investors Real Property Fund are valued only twice per month (called “Valuation Days”). If you wish to switch your investment from a Class to Investors Real Property Fund on a day other than a Valuation Day, your switch to Investors Real Property Fund cannot occur until the next Valuation Day. During the interim, you may elect to switch your investment into any other Investors Group Fund, subject to the eligibility requirements and minimum investment amounts, pending the investment of these monies into Investors Real Property Fund. Please speak to your Investors Group Consultant for more details.

Short-term tradingShort-term trading has the potential to adversely affect the interests of mutual funds and their investors by increasing trading and other costs and interfering with the efficient management of a mutual fund’s portfolio.

We have adopted policies and related procedures to prevent inappropriate short-term trading in the Investors Group Funds. Our procedures include the monitoring of trading activity within the Investors Group Funds to detect instances of possible inappropriate short-term trading, investigation into any trading activity that could constitute inappropriate short-term trading, and the taking of prompt action when such trading activity is detected. In determining whether a particular trade is inappropriate, we will consider all relevant factors, including bona fide changes in investor circumstances or intentions, the nature of the Investors Group Funds involved, and the past trading pattern by the investor, and may conduct discussions with the investor or investor’s Investors Group Consultant concerning the trade.

We consider as inappropriate short-term trading a combin-ation of a purchase (including a switch into an Investors Group Fund) and redemption (including a switch from an Investors Group Fund) or vice versa of mutual fund securities within a short period of time that may be detrimental to one or more Investors Group Funds, all as determined by us in our sole discretion. These trades are generally for periods of less than 10 days, but can be for periods of up to 30 days which take advantage of certain Investors Group Funds with securities priced in other time zones or illiquid securities which trade infrequently. We recognize that investments in Money Market Funds may be appropriate for short-term purposes. Accordingly, trades involving the Money Market Funds will generally not be considered as inappropriate short-term trading unless we have determined that these trades are in connection with an inappropriate short-term trading strategy. Similarly, trades involving Investors Group Funds under a fund-of-funds structure, or pursuant to a rebalancing arrangement, will generally not be considered as being an inappropriate short-term trading activity.

If we conclude that a particular trade is inappropriate, we will impose a short-term trading fee. This fee is payable to the affected Investors Group Fund(s), and is in addition to any other fees, including redemption fees and excessive switching fees, that may be charged. Refer to the table under Fees and expenses for more details.

Also, we may take such additional action as we consider appropriate to prevent further similar activity. These actions may include the delivery of a warning to the investor, the placing of the investor on a watch list to monitor closely his or her trading activities and the subsequent refusal of further trades by the investor if the investor continues to attempt such trading activity and/or account closure.

Please refer to the Annual Information Form for more infor-mation about short-term trading.

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make investments annually, quarterly, monthly or as often as weekly. The minimum contribution is $50 among all your Investors Group Funds. You can increase or decrease your PAC investments, and make additional lump sum invest-ments, at any time.

If you already have an Investors Group account, we can set it up as a PAC account.

Exemptive relief has been given to the Investors Group Funds in all jurisdictions from having to deliver annually a copy of the most recent Fund Facts to any person investing through a PAC, unless the person requests to receive a copy. Accordingly, we will send a copy of the Fund Facts for the Series of your Classes annually if you invest through a PAC arrangement, but only if you request to receive it. (Please contact your Investors Group Consultant for more informa-tion.) You may also request to receive a copy of the Simplified Prospectus (including any amendments). These documents may be found on our website (www.investorsgroup.com) or the SEDAR website (www.sedar.com).

Automatic regular redemptions by Systematic Withdrawal Plan (SWP)You can arrange to sell Shares of the Classes as automatic regular redemptions, also known as a systematic withdrawal plan (“SWP”). Generally, the minimum amount you can redeem on a regular basis is $100 from all Investors Group Funds held in the same account. You can sell your Shares as often as monthly, but you must ask us to sell Shares at least quarterly (other than withdrawals from a RRIF or similar Registered Plan, in which case an annual or semi-annual SWP can be set up for you). You can also ask us to sell Shares outside your SWP subject to the normal redemption rules. Please remember, though, that automatic redemptions may eventually deplete your account.

A SWP cannot be set up for investments held in a Registered Plan, other than for:

• a RRIF or a similar Registered Plan; or• a TFSA.

When you sell Shares under a SWP, we will send the proceeds (in Canadian currency) within three Business Days of the day the Shares are sold to your bank account, or to the cash position of your account if your investment is Nominee Held from which you can make a subsequent withdrawal, or, at your request, we will send you a cheque.

You generally won’t have to pay a fee for making regular redemptions if you sell:

• Series B Shares, Series Jnl Shares, Series Tnl Shares, Series TJnl Shares, Series U Shares or Series Tu Shares;

Optional servicesInvestors Group offers a variety of optional services to clients. To apply for these optional services, complete an application form available from your Investors Group Consultant. Some of these optional services may not be available if your account is Nominee Held.

Registered PlansWe offer a number of Registered Plans including, but not limited to, the following types:

• Registered Retirement Savings Plan (RRSP);• Registered Retirement Income Fund (RRIF);• Registered Education Savings Plan (RESP);• Life Income Fund (LIF);• Restricted Life Income Fund (RLIF);• Prescribed Retirement Income Fund (PRIF);• Locked-in RRSP;• Locked-in Retirement Income Fund (LRIF);• Locked-in Retirement Account (LIRA);• Group RRSP;• Tax-Free Savings Account (TFSA); and• Group TFSA.

Employers, unions and formal associations generally consisting of at least five members can also open a Group RRSP or a Group TFSA (“Group Plan”). If you participate in a Group Plan sponsored by your employer, remember that your employer doesn’t monitor the performance of any of the Investors Group Funds in the Group Plan. Therefore, you must make your own decisions to purchase shares or units of an Investors Group Fund based on your discussions with your Investors Group Consultant, your review of the performance and a consideration of your investment object-ives and any other information available to you.

If you are investing in Shares of a Class through a TFSA, a RRSP or RRIF, you should consult with your tax adviser as to whether Shares of that Class or of a Series of the Class would be a “prohibited investment” for your TFSA, RRSP or RRIF in your particular circumstances. Please see If you hold Shares in a Registered Plan in the Income tax considerations for Shareholders section.

Automatic regular investments by Pre-Authorized Contributions (PACs)Pre-authorized contribution arrangements (“PACs”) enable you to make automatic regular investments (also known as dollar cost averaging) without writing cheques or sending in written requests. We can arrange to withdraw money from your bank, trust company or credit union account to

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same Class or a different Investors Group Fund, the fee-free amount of your SWP will be adjusted by the value of the purchase and will be pro-rated based on the number of SWP redemptions remaining in the year.

Any Dividends you receive in cash (or that are reinvested in another Investors Group Fund) from Shares held under the DSC purchase option will serve to decrease the fee-free amount of redemptions under your SWP for the current year. (Please note that you cannot elect to have Dividends paid out to you in an account for which you have already set up a SWP.) Similarly, if you set up a STEP (discussed below) from an investment made under the DSC purchase option into the No-load purchase option of Investors Canadian Money Market Fund, any switches resulting from that STEP will reduce the amount of fee-free redemptions available under your SWP for the current year. Any investments subject to redemption fees that are redeemed to pay the advisory fee in Series U Shares or Series Tu Shares will not reduce the fee-free redemptions available under your SWP for the current year.

For example, if the value of your investments purchased under the DSC purchase option in all Investors Group Funds held within the same account was $10,000 as at December 31st, you could redeem by SWP (or STEP) up to $1,200 from that account during the next year without a redemption fee. If you redeem more than this amount under your SWP, a redemption fee may apply based on the excess amount you redeem.

Please speak to your Investors Group Consultant about the amount of fee-free redemptions you may receive under your SWP. Redemptions made outside your SWP will be subject to any redemption fees that may apply.

Automatic switching by Systematic Transfer and Exchange Plan (STEP)If your account is with Investors Group Financial Services Inc., generally you can automatically switch Shares of a Class for units or shares of the same Series of another Investors Group Fund, provided that you meet any eligibility requirements and minimum investment amounts. You can switch Shares as often as monthly, but you must switch at least quarterly each year (other than for withdrawals from a RRIF or similar Registered Plan, in which case an annual or semi-annual STEP can be set up for you). You can also ask us to switch additional Shares at any other time. As mentioned under Fees and expenses, you do not normally have to pay a fee when switching between Investors Group Funds.

You can automatically switch Shares within the same Registered Plan, except for an RESP or a RRIF and similar Registered Plans. If the automatic switch is coming out of an

• Series A Shares, Series Jdsc Shares, Series Tdsc Shares or Series TJdsc Shares where the redemption fee schedule that applies to those Shares has expired.

This is subject to situations where such Shares were acquired as a result of a switch of an investment from DSC shares or units of another Investors Group Fund where the redemption fee schedule attached to that investment has not expired.

In addition, when you make regular redemptions of DSC purchase option Shares using a SWP, you won’t have to pay a redemption fee when the amount redeemed within the year under the SWP is less than 12% of the value (as at December 31st of the previous year) of your units or shares for all your Investors Group Funds purchased under the DSC purchase option held within the same Investors Group account. For this purpose, you will have separate Investors Group accounts for your Investors Group Funds held within each Registered Plan and for your Investors Group Funds that are not held within a Registered Plan. Also, only units or shares that are held under the DSC purchase option (as at December 31st of the previous year) will be considered when determining the fee-free amount you may receive under your SWP. This feature is also available on STEPs (see Automatic switching by Systematic Transfer and Exchange Plan (STEP)). Shares of the Class(es) and Series selected for your SWP will generally be redeemed in an order that reduces the potential that redemption fees apply. Accord-ingly, investments that are not subject to a redemption fee will generally be redeemed first, followed by those Shares that have the lowest redemption fee. Shares that are redeemed under the SWP that are not subject to a redemp-tion fee will be included in the calculation of your 12% annual fee-free redemption amount.

If you open an account during the year, the amount of fee-free redemptions under a SWP will be based on the value of your investment purchased under the DSC purchase option at the time of your purchase, and will be pro-rated based on the number of SWP redemptions remaining in the year. If you already have an account and wish to set up a SWP during the year, the amount of fee-free redemptions will be based on the market value of your investments under the DSC purchase option at December 31st of the previous year. This amount will be adjusted for any current year DSC purchases and will be pro-rated based on the number of SWP redemptions remaining in the year.

If you make an additional purchase (other than a reinvest-ment of Dividends) in your account from an investment made under the DSC purchase option during the year, including a switch of an investment held on a No-load basis for an investment under the DSC purchase option, in the

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Return of capital distributions and Dividends for the Fixed Distribution Series of Investors Dividend ClassThe Fixed Distribution Series of Investors Dividend Class allow you to receive a predetermined level of ordinary Dividends and/or return of capital distributions which will be paid near the end of each month (the “Monthly Payments”). The Monthly Payments may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Monthly Payments are automatically paid out to you in cash; however, you may ask that Monthly Payments be reinvested.

Please see Income tax considerations for Shareholders for more details.

Investors Group Charitable Giving ProgramThe Investors Group Charitable Giving Program (the “Program”) is a donor-advised charitable giving program developed by Investors Group with the Strategic Charitable Giving Foundation (the “Foundation”), a non-profit charit-able corporation registered as a public foundation with the Canada Revenue Agency and with the Quebec Ministry of Revenue. Your Investors Group Consultant can provide you with additional details about the Program, including how to donate units of any Investors Group Funds to the Founda-tion and the current list of “Eligible Funds”.

The Program allows you to make irrevocable donations to the Foundation and, in so doing, establish a Charitable Giving Account (the “Account”) within the Program to hold the proceeds of your donation. The Foundation will invest the proceeds in a permitted Investors Group Fund (an “Eligible Fund”) and make grants over a period of years to Canadian and other permitted entities as set out in the Tax Act (the “Eligible Charities”). An Account may only invest in a single Eligible Fund at any time.

Your initial donation under the Program must be at least $10,0006 (comprised of cash, securities and/or insurance), unless the donation is a donation of life insurance from a living person, in which case the policy must have a net death benefit of at least $25,000 (no cash surrender value is required). Subsequent donations to an Account must be at least $500 (although you may make subsequent smaller donations to pay the premiums associated with a donated life insurance policy). Donors are generally entitled to a tax receipt for the market value of their donation on the date it is accepted by the Foundation.

Although the Foundation is the owner of the assets you donate, it will generally act on recommendations from you (or those of persons authorized by you) with respect to selecting the Eligible Fund, selecting the Eligible Charities to

account that is not a Registered Plan, then the transfer can be to any account except for a RRIF and similar Registered Plans. You can also set up a STEP to automatically switch Shares held within a TFSA to another Registered Plan and from a RRIF to a TFSA.

Please see Income tax considerations for Shareholders regarding the tax consequences of switching.

Automatic reinvestment of Dividends (all Series except Fixed Distribution Series)The Corporation may earn dividend or interest income from its investments. It may also realize capital gains when invest-ments are sold at a profit. Dividends will be declared payable to Shareholders by the Board of Directors of the Corporation on the basis that the Board considers to be reasonable.

Generally, we automatically reinvest your Dividends to buy additional Shares of the same Series of your Class or (in some cases) to buy Shares or units of another Investors Group Fund within the same Series. When we reinvest your Dividends, we use the Share or unit price on the day we reinvest the Dividends.

You can ask us to pay Dividends to you in cash, except:

• where your investments are held in a Registered Plan; or• where you have set up a SWP from your account.

Notwithstanding the foregoing, Dividends paid on invest-ments held in a TFSA may be paid out to you.

When we pay Dividends directly to you, we will have the money deposited into your bank account or paid to the cash position of your account if your investment is Nominee Held from which you can make a subsequent withdrawal, or you may request to receive a cheque.

Please see Income tax considerations for Shareholders for more details.

Return of capital distributions and Dividends on Fixed Distribution Series (except for Investors Dividend Class)Fixed Distribution Series allow you to receive a predeter-mined level of monthly distributions from your investment which is generally effected by a return of capital, but may also be comprised of Dividends in certain circumstances. These monthly distributions will be paid out to you unless you ask that these distributions be automatically reinvested.

Any Dividends which are not part of the predetermined monthly distributions must be automatically reinvested into the same Fixed Distribution Series of your Class.

Please see Income tax considerations for Shareholders for more details.

6 Please note that an Account cannot issue grants until it reaches $25,000. Donors are expected to bring their Accounts up to $25,000 within three years.

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expenses, including grant activity charges specific to each Account. Fees will be automatically deducted semi-annu-ally from an Account. The Foundation reserves the right to change these fees for the Program at any time with appro-priate notice.

You should consult your tax advisor about the tax benefits and consequences of making a donation to the Foundation. Further information about the Program can be found on our website at www.investorsgroup.com.

receive annual grants, and determining how the Account will be managed after your lifetime.

The Program facilitates philanthropy and offers donors benefits similar to having their own private foundation, without the initial administrative costs or responsibilities. An annual charitable administration fee applies to all assets held in an Account under the Program other than donations of life insurance policies for which the proceeds have not yet been paid. In addition, each Account in the Program pays a pro rata share of the Foundation’s annual operating

Fees and expensesThere are certain fees and expenses associated with investing in the Classes, plus applicable Sales Taxes. The following tables list the fees and expenses you may pay if you invest in the Classes. The Classes pay some of these fees and expenses which reduces the value of your investment. There will be no duplication of management fees, administration fees or service fees payable by a Class as a result of any investment in Underlying Funds and there will be no redemption fee payable by a Class with regard to the redemption of any investment in an Underlying Fund. You pay other fees and expenses directly, including account administrative or transaction fees payable to the Principal Distributors that may not be directly associated with your investment in a Class.

Fees and expenses paid by the Classes7

Management fee Each Class pays a management fee used in part to pay costs incurred in providing investment advisory and management services provided to it, and for distribution-related services including the cost of financial planning services, Investors Group Consultant commissions and bonuses, marketing and other Class promotional activities and education conferences. Please see the Specific information about each of the Classes section of this Simplified Prospectus for the management fee payable by each Series of each Class. The management fee includes the fees payable to the Manager and Portfolio Advisor(s).

Operating expenses Administration fee and Class CostsEach Class pays an administration fee calculated as an annual percentage (accrued and payable daily) of the net asset value of each Series of each Class, other than certain Non-retail Series (if any), as disclosed in the Specific information about each of the Classes section of this Simplified Prospectus. In exchange for this fee, the Manager will pay the costs and expenses required to operate the Classes including audit, accounting, legal, record-keeping, transfer agency, prospectus and regulatory filing fees (including any portion of the Manager’s registration fees attributable to the Classes), and custody safekeeping fees that are not otherwise included in the management fee, except the Class Costs.

Class Costs are allocated among the Classes and Series of the Classes on a fair and reasonable basis. Each Class or Series will bear any expense that can be specifically attributed to that Class or Series. Common expenses will be allocated among the Classes or Series of the Classes in the manner which we determine to be the most appropriate based on the nature of the expense. Class Costs include the following:

• any regulatory fee increases and costs of complying with additional regulatory requirements after July 25, 2007;

• fees related to external services that are not commonly charged in the Canadian mutual fund industry as of July 25, 2007;

7 Other Series of the Classes offered under a separate prospectus may have different fees and Class Costs.

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Operating expenses (continued)

• taxes (including, but not limited to, Sales Taxes and income taxes);• interest and borrowing costs;• for the Allegro Portfolios, an annual distribution fee of 0.10% of their net assets which is paid to the

Principal Distributors for making the Allegro Portfolio Classes available to all Investors Group clients, including those who do not have Household Investments of a minimum of $15,000;

• brokerage fees and other securities transaction expenses, including the costs of Derivatives;• the portion of the member fees and any expenses incurred in connection with the IRC payable by each

Class (“IRC Costs”); and• service fees as disclosed below.

We may absorb certain operating expenses or waive a portion of a Class’ management fee (or admin-istration fee) to ensure that the Class remains competitive. There is no assurance that this will occur in the future.

IRC CostsIRC Costs include, without limitation, an annual retainer of $40,000 per member ($50,000 for the Chair), a per meeting fee for each meeting attended, reimbursement of reasonable expenses incurred by the members of the IRC in the performance of their duties (such as travel and accommodation), CPP payments made on behalf of the members of the IRC, liability insurance and expenses paid directly to a service provider for services provided to any IRC member. For the financial year ended March 31, 2016, IRC Costs for Investors Group Funds were approximately $404,299. The Manager does not intend to reimburse the Classes for any of their IRC Costs.

Service feeIn addition, the Classes pay a service fee, other than:

• Investors Canadian Money Market Class; and• Series U Shares and Series Tu Shares issued by any of the Classes.

The level of the service fee is different for each Series. Please see the Specific information about each of the Classes section for the service fee payable by each Series of each Class.

The service fee is intended to compensate the Principal Distributors for providing or arranging services to the Classes including the issue, granting, allotment, acceptance, endorsement, renewal, processing, variation, transfer of ownership or redemption of Shares.

Management fee and expense reduction

The Manager may negotiate a reduction in the management fee and/or any other operating expenses which are charged to the Classes with respect to any particular Shareholder’s investment in a Class. This is typically available for Shareholders with $1,000,000 or more in Household Investments or to accom-modate special situations such as investments by pension funds, insurers or other qualified investors. The level of reduction will generally be based on the Shareholder’s asset level, the types of investments purchased and the levels of service required by the Shareholder from Investors Group. The Manager may discontinue these reductions at any time by giving written notice to the Shareholder. Please speak to your Investors Group Consultant if you wish to determine whether a management fee and/or expense reduction is available in your circumstances.

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Fees and expenses paid by you

Initial sales charges (payable at purchase)

None.

Redemption fee You may have to pay a fee for selling Shares acquired under a DSC purchase option or if your investment in Series U Shares or Series Tu Shares was acquired as a result of a switch of an investment made under the DSC purchase option. The fee is based on the number of years you have held your investment.

When you sell your Series A Shares, Series Jdsc Shares, Series Tdsc Shares or Series TJdsc Shares You pay

Within 2 years after you bought them 5.5% of the amount you sellDuring 3rd year after you bought them 5.0% of the amount you sellDuring 4th year after you bought them 4.5% of the amount you sellDuring 5th year after you bought them 4.0% of the amount you sellDuring 6th year after you bought them 3.0% of the amount you sellDuring 7th year after you bought them 1.5% of the amount you sellMore than 7 years after you bought them No fee

If the Series A Shares, Series Jdsc Shares, Series Tdsc Shares, Series TJdsc Shares, Series U Shares or Series Tu Shares you redeem were acquired with an investment switched from any Investors Group Fund, the redemption fees pursuant to the redemption fee schedule in effect at the time of your original invest-ment will continue to apply.

For more details, see Impact of sales charges.

You don’t have to pay a fee for selling Shares of the Classes if:

• you sell Shares purchased under the No-load purchase option; or• you sell Shares purchased under, or switched from, the DSC purchase option and the redemption fee

schedule has expired; or• in certain circumstances, you use automatic regular redemptions (see Automatic regular redemptions

by Systematic Withdrawal Plan (“SWP”)); or• you sell Shares held within a Group Plan, although a fee may apply as explained under Fees for

Group Plans.

For purchases made by individual investors after June 30, 2016, any applicable redemption fees will be waived upon death (or upon the death of the last surviving owner for jointly held accounts).

If you switch investments subject to a redemption fee from a Class to a Guaranteed Investment Fund, or vice versa, we may waive the redemption fee, although a redemption fee may be payable when you redeem from your Guaranteed Investment Fund.

In certain circumstances you may be subject to an excessive switching fee and/or a fee for inappropriate short-term trading. Please see Short-term trading fee and Excessive switching fee for more details.

Excessive switching fee

You don’t have to pay a fee for switching Shares of the Classes, but, if you switch into, or out from, a Class so often that in our view your switches could have a detrimental effect on the Class, we may:

• charge you an excessive switching fee of up to 3%, or if the Shares being switched are subject to a redemption fee, such larger redemption fee amount up to 5.5% that would apply based on the time since your most recent investment in the Class; and/or

• reject your investment into the Investors Group Fund you wish to purchase.

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Short-term trading fee

You should be aware that a purchase (including a switch into a Class) and redemption (including a switch from a Class) or vice versa within 90 days could subject you to a 2% short-term trading fee. This fee is payable to the applicable Class, and is in addition to any other fees, including redemption fees and excessive switching fees, that may be charged, as described under Redemption fee and Excessive switching fee, respectively.

Fees for Group Plans

You don’t have to pay a separate fee for opening a Group Plan with us; however, you may have to pay a fee when you redeem investments from your Group Plan as follows:

• up to 1% of the value of any investment in an account held within a Group RRSP if you redeem that investment within five years after it was acquired by the Group RRSP; or

• the amount of any redemption fee applicable to any investment switched into an account held within a Group Plan where the redemption fee schedule for such investment has not yet expired.

These fees are in addition to any withholding taxes that may apply. There is generally no fee for redeeming Shares from a Group TFSA.

Advisory fee If you hold Series U Shares and/or Series Tu Shares, you will pay an advisory fee directly to the Principal Distributors for investment advice and administrative services. The advisory fee is based, among other things, on the market value of the Series U Shares and Series Tu Shares in your account(s). The rate payable will generally be based on your Household Investments, the types of investments purchased and the level of service provided to you. The advisory fee will be calculated daily and paid monthly and it will be collected via redemption of Shares from your account(s). For more details, please contact your Investors Group Consultant.

Impact of sales chargesThe following table shows the DSC you would pay to sell Shares if:

• you invest $1,0008 in a Class;• your investment grows by 5% each year;• you hold the investment for one, three, five or ten years; and• you sell your Shares immediately before the end of each of

these time periods. When you buy When you sell your Shares after your Shares 1 year 3 years 5 years 10 years

Series A Shares, Series Jdsc Shares, Series Tdsc Shares or Series TJdsc Shares none $58 $58 $51 none

Series B Shares, Series Jnl Shares, Series Tnl Shares or Series TJnl Shares none none none none none

Series U Shares or Series Tu Shares9 none none none none none

When you sell Series A Shares, Series Jdsc Shares, Series Tdsc Shares or Series TJdsc Shares of a Class within seven years of the date you buy them, you have to pay a redemption fee. Please see Redemption fee under Fees and expenses.

If you sell less than 12% of your Series A Shares, Series Jdsc Shares, Series Tdsc Shares or Series TJdsc Shares using automatic regular redemptions, you won’t have to pay a redemption fee. For more details, see Automatic regular redemptions by Systematic Withdrawal Plan (SWP).

Dealer compensationPayments to your Investors Group ConsultantYour Investors Group Consultant is compensated for the sale of Shares of the Classes as follows:

• there is no sales commission for purchases under the No-load purchase option;

• for purchases made under the DSC purchase option, a sales commission of up to 4.20% of the amount you invest. In addition, if your Investors Group Consultant has been with us for less than three years, he or she may receive an addi-tional commission payment of up to 40% of his or her sales commission earnings to help establish their practice; and

• for purchases under either the DSC or No-load purchase options, or of Series U Shares or Series Tu Shares, an annual trailing commission as follows:

8 Please note the minimum investment must be met. Please see Minimum initial investment in the Purchases, switches and redemptions section.9 A redemption fee will apply if you switch into Series U Shares or Series Tu Shares from an investment purchased on a DSC basis which has time remaining during

which a redemption fee is payable.

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prize awards and performance bonuses to your Investors Group Consultant, or provide credits that may be paid in cash or used towards a variety of business, benefit and education-related expenses, based on the dollar amount of the various products and investments distributed or serviced by the Investors Group Consultant during the year, as well as bonuses for career achievements such as obtaining an educational designation, license or program completion. Some prizes and bonuses paid for Investors Group Funds may be higher than those paid for other products. Also, your Investors Group Consultant may own, directly or indirectly, shares of IGM Financial Inc.

Dealer compensation from management feeApproximately 58% of the management fee earned from Investors Group Funds in the calendar year ended December 31, 2015 was spent by the Principal Distributors to offset the cost of commissions, marketing and educa-tional conferences and other promotional expenses of the Principal Distributors.

Income tax considerations for ShareholdersThis summary takes into account the current provisions of the Tax Act and the regulations thereunder, as well as all publicly announced proposals by the Minister of Finance to amend the Tax Act and regulations as of the date hereof. This summary also takes into account the current published administrative practices and policies of the Canada Revenue Agency. This summary does not take into account provincial or foreign income tax legislation or considerations.

This section is a general summary of how your investments in the Classes are taxed. It applies to Shareholders who are individuals (other than trusts), are residents of Canada, deal at arm’s length with the Corporation, hold their Shares as capital property and have not entered into a “derivative forward agreement” as defined in the Tax Act with respect to their Shares. This summary does not deal with all possible tax considerations. Therefore, please consult with a tax advisor about your own circumstances.

Tax status of the ClassesThe Corporation qualifies as a mutual fund corporation for tax purposes and it is assumed for the purposes of this summary that the Corporation will continue to so qualify in the future.

The Corporation is taxed as a single entity. This means that all of the Corporation’s revenues, deductible expenses, capital gains and capital losses in connection with all of its investment portfolios (including all of the assets of all

Investors Canadian Investors Money Balanced Dividend All other Market Class Portfolios Class Classes

DSC purchase optionsSeries A, Jdsc, TJdsc and Tdsc 0.16% 0.47% 0.55% 0.63%

No-load purchase optionsSeries B, Jnl, TJnl and Tnl 0.20% 0.60% 0.70% 0.80%

Series U and Tu N/A 0.60% 0.70% 0.80%

For purposes of the above table, Balanced Portfolios are Allegro Balanced Portfolio Class, Allegro Income Balanced Portfolio Class, Maestro Income Balanced Portfolio Class and Maestro Balanced Portfolio Class.

For purchases under the No-load purchase option and purchases of Series U Shares or Series Tu Shares, if your Investors Group Consultant has been with us for less than three years, he or she may receive an additional commis-sion payment of up to 60% of his or her trailing commission earnings to help establish their practice.

Your Investors Group Consultant may also qualify for commission enhancement payments determined on a quarterly basis during their first two years with us that may enhance their income up to a maximum of two times their income on the sale of all Investors Group financial products (including mutual funds) from the previous quarter.

We don’t pay your Investors Group Consultant a sales commission on reinvested Dividends. We may, however, pay your Investors Group Consultant a one-time commission amount if you switch from No-load purchase option Shares to DSC purchase option Shares of the same Class, or switch from a No-load purchase option in a Class to a DSC purchase option in another Investors Group Fund.

The amount of the sales commission and the trailing commissions vary among Investors Group Consultants depending on various factors that may include, but are not limited to, the assets serviced, sales volumes and profes-sional qualifications. We may change these amounts at any time without prior notice to you.

The information in this section may not apply to the iProfile™ Funds that have a different compensation structure. More information can be found in the simplified prospectus of the iProfile Funds.

Other incentivesWe may from time to time reimburse your Investors Group Consultant for all or a portion of his or her marketing costs, including advertising. We may also pay all or a portion of the cost for your Investors Group Consultant to attend educa-tional or business courses or conferences that we sponsor, including annual business conferences. We may also pay

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10 The iProfile Classes are sold under a separate prospectus.

of the Classes and the iProfile Classes10) and other items relevant to its tax position (including the tax attributes of all of its assets), will be taken into account in determining the income or loss of the Corporation and applicable taxes payable by the Corporation as a whole.

For more detailed information about the tax status of the Corporation, see Income Tax Considerations in the Annual Information Form.

Tax status of the ShareholdersIf you have an account outside a Registered PlanDividends receivedYou have to report the Dividends you receive on your income tax return, whether or not the Dividends are reinvested in additional Shares. If the Dividend is a capital gains dividend, one-half of the Dividend will be included in your income as a taxable capital gain. If the Dividend is an ordinary dividend, the dividend gross-up and tax credit rules will apply. Taxable Dividends (other than capital gains Dividends), if any, paid by the Corporation will generally be “eligible dividends” for this purpose and the Corporation will provide notice of this status to Shareholders as required under the Tax Act.

Any rebates received by you as a consequence of a manage-ment fee, administration fee and/or any other operating expense rebate must generally be included in income or, in certain circumstances, a Shareholder may elect to reduce the adjusted cost base for tax purposes of the Shareholder’s Shares.

The higher a Class’ Portfolio Turnover Rate, the greater the chance that income or capital gains will be realized by the Corporation as a whole, and the greater the chance that you will receive a capital gains Dividend during the year. If an Underlying Fund makes a capital gains distribution to a Class, this may increase the chance that you will receive a taxable capital gains Dividend during the year.

If you buy Shares just before a Dividend is paid on these Shares, you will be taxed on your share of the Dividend. Therefore, you may have to pay tax on income and taxable capital gains realized by the Corporation before you purchased your Shares. The amount of the Dividend paid to you and reinvested in more Shares will be added to the adjusted cost base of your Shares.

You will receive a tax slip when applicable that shows your share of the ordinary Dividends, including eligible Dividends, and capital gains Dividends paid by the Corporation.

For more information on Dividends, see Automatic reinvest-ment of Dividends.

Return of capital distributionsMonthly return of capital distributions paid on Fixed Distri-bution Series are not taxable in the hands of the Share-holder, but such distributions will reduce the adjusted cost base of your Shares (please note that the monthly distribu-tions payable on Investors Dividend Class may be return of capital and/or ordinary Dividends). If the return of capital distributions reduce the adjusted cost base of your Shares so that it becomes a negative amount, you will be deemed to realize a capital gain equal to such amount and the resulting negative cost base will be increased back to zero.

Switches and redemptionsIf you switch your investment from one Class held in a non-registered account to another Class held in a non- registered account, the switch is not treated as a disposition for tax purposes and you will not realize a capital gain or capital loss on the switch. The total cost of the Shares of the new Class acquired on the switch will be equal to the total adjusted cost base of the Shares of the previously owned Class. The cost of the Shares of the new Class will be averaged with the adjusted cost base of any Shares of the new Class already held by you in order to determine your adjusted cost base per Share of the new Class. The same principles apply if you switch your investment between a Class and an iProfile Class.

If you redeem Shares (including switches from a Class to another Investors Group Fund outside of the Corporation and switches from a Class held in a non-registered account to the same or another Class held in a Registered Plan), you will likely realize a capital gain or a capital loss.

A capital gain arises when the amount you receive from the redemption exceeds the adjusted cost base of your Shares and any costs of the redemption or switch (including redemption fees). A capital loss arises to the extent that the adjusted cost base and cost of redemption or switch exceeds the amount you receive. One-half of any capital gain (or capital loss) must be included in determining your taxable capital gain (or allowable capital loss) in the year, subject to and in accordance with the detailed rules in the Tax Act.

The adjusted cost base per Share of a Series of a Class is generally the amount you have paid for all of your Shares of that Series in the Class divided by the number of Shares of that Series you own in the Class. This includes the adjusted cost base of Shares of that Series you owned previously in the Class,

• plus the adjusted cost base of any Shares of another Class that you switched into Shares of that Series of the Class,

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• plus any amount of reinvested Dividends and reinvested return of capital distributions, and

• less return of capital distributions and the adjusted cost base of previously redeemed Shares and Shares switched out of that Series of the Class.

The March 22, 2016, Federal Budget announced proposals that would eliminate the deferral of capital gains tax for investors switching between different classes of shares within a mutual fund corporation (the “2016 Budget Proposal”).

If implemented as proposed, the 2016 Budget Proposal would treat a switch between Classes (including switches between Classes and iProfile Classes) occurring after September 2016 as a disposition at fair market value for tax purposes which will likely trigger capital gains or losses. As proposed, switches between different Series of Shares within the same Class would not be affected by the 2016 Budget Proposal.

We continue to assess the implications of the 2016 Budget Proposal for the Classes. Shareholders may wish to speak with their Investors Group Consultant about their invest-ment options.

If you hold Shares in a Registered PlanProvided that the Corporation qualifies as a mutual fund corporation at all times, the Shares of all the Classes will be qualified investments for a Registered Plan. Fixed Distribution Series are not available for investment by Registered Plans.

The Shares of a Class will generally not be a “prohibited investment” for your TFSA, RRSP or RRIF. Holders of TFSAs and annuitants of RRSPs and RRIFs should consult with their tax advisors in this regard.

In general, the amount of a Dividend paid to a Registered Plan from a Class and gains realized by a Registered Plan on a disposition of Shares of a Class will not be taxable under the Tax Act. However, amounts withdrawn from a Registered Plan (other than a return of contributions from a RESP and withdrawals from a TFSA) may be subject to tax.

We will withhold the applicable withholding tax from the money you withdraw from a Registered Plan (other than return of contributions from RESPs and withdrawals from a TFSA) as required by law. You can claim a credit for this tax when you file your income tax return.

If you hold Shares of a Class in a RESP, payments made to a beneficiary by your RESP are included in the beneficiary’s income. In certain circumstances, if the beneficiary of your

RESP does not pursue a qualifying education, you may receive a tax-free refund of your contribution after you repay any Canada Education Savings Grants paid into your RESP, and up to $50,000 of accumulated income may be transferred to your RRSP, assuming that you have sufficient unused RRSP contribution room. Otherwise, the income of your RESP that has accumulated can be paid to you and you must include these amounts in your income and, in addition to ordinary income tax, you must pay a special additional 20% tax. If, at the termination of your RESP, there remains money in your RESP, that money will be paid to an educa-tional institution that you designate when you set up the RESP or, if you did not make a designation, to an institution designated by the RESP trustee.

Deductibility of advisory feeAdvisory fees paid for Series U Shares and Series Tu Shares held outside a Registered Plan will generally be deductible for income tax purposes. Advisory fees for Series U Shares held in a Registered Plan will not be deductible for income tax purposes. Please consult with a tax advisor about the deductibility of the advisory fee.

What are your legal rights?Securities legislation in some provinces and territories gives you the right to withdraw (the “Withdrawal Right”) from an agreement to buy shares or units of mutual funds within two Business Days of receiving the Simplified Prospectus or Fund Facts, or to cancel your purchase within 48 hours of receiving confirmation of your order.

Securities legislation in some provinces and territories also allows you to cancel an agreement to buy mutual fund shares or units and get your money back, or to make a claim for damages, if the Simplified Prospectus, Annual Informa-tion Form, Fund Facts or financial statements misrepresent any facts about the mutual fund (the “Misrepresentation Right”). These rights must usually be exercised within certain time limits.

If you set up a PAC into your Class, you will not have a Withdrawal Right for your purchases other than in respect of your initial purchase, unless you request to receive the most recent copy of the Fund Facts of your Series of your Class annually, but you will have a Misrepresentation Right whether or not you receive annually the most recent copy of that Fund Facts.

For more information, refer to the securities legislation of your province or territory, or consult your lawyer.

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This part of the Simplified Prospectus contains specific information about the Classes. The description of each Class is organized into sections to make it easier for you to compare any Class to other Investors Group Funds. Here’s an overview of the information you’ll find in each section.

1 Class detailsInvestors Group Corporate Class Inc.™ has separate Classes of Shares and separate Series of each Class. Each Class is a separate Class of Shares associated with an investment portfolio having specific investment objectives. Each Share represents an equal, undivided interest in the portion of the Class’ net assets attributable to that Series. Expenses of each Series are tracked separately and a separate Share price is calculated for each Series. More details can be found under Fees and expenses.

This section is a quick overview of each Class. It tells you:

• the kind of mutual fund it is;• the launch date for each Series of Shares offered under this

Simplified Prospectus;• the eligibility of the Class for investment by Registered

Plans. Each Class is an eligible investment for Registered Plans but we do not allow purchases of the Fixed Distribu-tion Series by Registered Plans, nor purchases of Series U Shares and Series Tu Shares by Group Plans and RESPs;

• the applicable fees of the Class, which may be different for each Series. These fees include management fees, service fees (if any) and administration fees. See also Fees and expenses paid by the Classes in the Fees and expenses section;

• the name of the Portfolio Advisor. When making invest-ment decisions, we generally employ a “team approach” with teams organized more or less by mutual fund type (for example, fixed income securities, equities, etc.), and/or by region (for example, North America, Europe, Asia, etc.). These teams meet frequently to discuss market trends and opportunities. Each team usually has a lead person, and investment decisions are subject to review by our senior management. The Investors Group investment teams may be comprised of individuals from I.G. Investment Manage-ment, Ltd., I.G. International Management Limited and I.G. Investment Management (Hong Kong) Limited. The Corpo-ration may from time to time without prior notice to you change the Portfolio Advisor of a Class from IGIM to IGIM Dublin or from IGIM Dublin to IGIM, or appoint both IGIM and IGIM Dublin to provide investment advisory services to a Class. More details about the Portfolio

Advisors can be found under Organization and manage-ment of the Classes; and

• the name of the Sub-advisors (if any) hired to select invest-ments. Sub-advisors may change or be removed without prior notice if this is deemed to be in the best interests of the Class, in which case the Portfolio Advisor may take over the provision of day-to-day investment advisory services, or another Sub-advisor may be retained to provide those services. The following Sub- advisors select investments, or assist with the selection of investments, for some of the Classes:Sub-advisor Class it advises

AGF Investments Inc. of Toronto, Ontario

• IG AGF Classes

Allianz Global Investors U.S. LLC of San Francisco, California

• U.S. Large Cap Growth component of Investors Core U.S. Equity Class

Beutel, Goodman & Company Ltd. of Toronto, Ontario

• IG Beutel Goodman Canadian Equity Class

Aristotle Capital Boston, LLC of Boston, Massachusetts

• Investors U.S. Small Cap Class• U.S. Small Cap component of

Investors Core U.S. Equity Class

Fidelity Investments Canada ULC of Toronto, Ontario

• IG FI Classes

Fiera Capital Corporation of Montreal, Quebec

• IG Fiera Canadian Small Cap Class

Franklin Bissett Investment Management of Calgary, Alberta, a part of Franklin Templeton Investment Corp. of Toronto, Ontario

• IG Franklin Bissett Canadian Equity Class

I.G. Investment Management (Hong Kong) Limited of Hong Kong

• Investors Global Financial Services Class

• Investors Global Infrastructure Class

• Investors Global Science & Technology Class

• Investors Greater China Class• Investors International Small

Cap Class• Investors Pacific International

Class• Investors Pan Asian Equity Class

Mackenzie Financial Corporation of Toronto, Ontario (“Mackenzie Investments”)

• IG Mackenzie Classes

Specific information about each of the Classes

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Sub-advisor Class it advises

Putnam Investments Canada ULC, operating in Manitoba as Putnam Management of Toronto, Ontario; and its affiliate, The Putnam Advisory Company, LLC of Boston, Massachusetts

• IG Putnam Classes

Franklin Templeton Investments Corp. of Toronto, Ontario

• IG Templeton International Equity Class

Irish Life Investment Managers Limited of Dublin, Ireland

• Investors Low Volatility Global Equity Class

2 What does the Class invest in?This section gives you information about the investment objective and strategies of each Class. The investment objective information describes the basic goal of the Class as well as the type of securities in which it may primarily invest. The investment strategies detail how the Class plans to achieve the investment objective. If a Class has had or is expected to have a Portfolio Turnover Rate of more than 70%, you’ll find that information here. The Portfolio Turnover Rate indicates how actively a Class changes its investments. A rate of 100% is equivalent to a Class buying and selling all of its securities once in the course of a year. The higher the rate, the greater the trading costs payable by the Class will likely be in the year, and the greater chance that the Corporation will realize income or capital gains and declare a capital gains Dividend during the year. The Portfolio Turnover Rate of the Portfolios primarily reflects the rebalancing necessary for them to maintain the target investment mix in their Underlying Funds. There is not necessarily a relationship between a higher Portfolio Turnover Rate and performance.

Management style information has been included which shows you whether the Class’ investments are selected primarily using a growth style or a value style, or a blend of both. It also shows whether the Class tends to focus its investments on large, medium or small Capitalization companies. A growth style means that the Class tries to invest in companies that are growing fast and whose share price is expected to grow fast, even though the company may not yet be profitable. A value style means that the Class tries to find fundamentally strong companies whose share price is undervalued compared to similar companies. When a Portfolio Advisor or Sub-advisor uses a blend of these styles, it may primarily use each style for a portion of the Class’ portfolio at the same time, or it may switch between these styles from time to time according to what is best for the Class. The Classes may invest a portion of their assets in any size company, even if only one or two style boxes

are marked. Since the Portfolios generally invest in other Investors Group Funds, their investment management style is not relevant.

The Classes follow the Rules for mutual funds, unless they have permission from the securities authorities to deviate from the Rules. In this section, we will disclose if a Class has permission from the securities authorities to deviate from the Rules.

The Classes are permitted to purchase, sell and hold secur-ities of certain companies that are directly or indirectly related to the Manager, including, but not limited to Power Corporation of Canada, Power Financial Corporation, Great-West Lifeco Inc., The Canada Life Assurance Company, Canada Life Financial Corporation and Canada Life Capital Trust (and their subsidiaries), subject to supervision by the Investors Group Funds Independent Review Committee. The Investors Group Funds Independent Review Committee has approved standing instructions to permit investment in these securities. Please see Class Governance in the Annual Information Form for more information.

In keeping with the Rules, the Classes may hold cash and cash-like investments, such as government-issued treasury bills and other money market instruments, to a greater or lesser extent depending on prevailing market conditions, available investment opportunities, and anticipated cash needs. If necessary, the Classes may temporarily depart from their investment objectives and strategies by investing in short-term debt instruments and cash. The Rules permit any mutual fund to invest in other mutual funds in most circum-stances. Accordingly, the Classes may invest in other mutual funds, including other Investors Group Funds and mutual funds of affiliates of the Manager.

Each Class, except Investors Canadian Money Market Class, has obtained regulatory approval to invest up to 10% of its net assets at the time of purchase, in aggregate, in gold, gold certificates, silver, silver certificates and Derivatives, the underlying interest of which are gold and/or silver and certain gold/silver exchange traded funds that trade in Canada or the United States on an unlevered basis. This regulatory approval does not affect the regulatory approval noted for IG Mackenzie Global Precious Metals Class.

The Classes may also enter into Securities Lending, Repur-chase and Reverse Repurchase Transactions, and they may use Derivatives (other than Investors Canadian Money Market Class) in conjunction with their other investment strategies as permitted by the Rules, as more fully explained under What are the risks of investing in a mutual fund? The Classes (other than Investors Canadian Money Market Class) may use Derivatives to:

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• protect against losses caused by changes in the prices of securities, markets, interest rates, currency exchange rates and other risks;

• effectively increase or decrease the maturity of bonds and other fixed income securities in their portfolio;

• substitute for purchasing or selling the debt on which the Derivative is based. This allows a Class to increase or reduce its exposure to certain markets, currencies or secur-ities, without trading the actual shares, bonds or currency;

• help manage the risk associated with one or more of their investments; and

• enhance returns.

All Investors Group Funds that trade in Swaps which are required to be cleared through a futures commission merchant registered with the U.S. Commodity Futures Trading Commission, have received exemptive relief from:

(i) requirements in Subsection 2.7(1) of NI 81-102 that impose minimum credit rating requirements on Swaps or on the equivalent debt of the Counterparty to Swaps (or their guarantors); (ii) the limitation in Subsection 2.7(4) of NI 81-102 that the mark-to-market value of the exposure of a mutual fund under its specified Derivatives positions with any one Counterparty (other than an acceptable clearing corporation or a clearing corporation) not exceed, for a period of 30 days or more, 10% of the net asset value of the mutual fund; and (iii) the requirement in Subsection 6.1(1) of NI 81-102 to hold all portfolio assets with a custodian, to permit each Investors Group Fund to deposit cash and other assets directly with a futures commission merchant and indirectly with a clearing corporation as margin. A futures commission merchant established outside of Canada must have a net worth in excess of $50 million Canadian dollars. The exemptive relief also applies to trades made by an

1 Class details

2 What does the Class invest in?34 Investors Canadian Money Market Class

• non-government obligations issued by chartered banks, including bankers’ acceptances, term deposits, floating rate notes and asset-backed securities; and

• commercial paper issued by corporations, including floating rate notes and asset-backed securities.

Investments in money market securities will have terms to maturity of 365 days or less, and the Fund’s portfolio will have a dollar-weighted average term to maturity not exceeding 90 days (based on the interest rate reset date for any short-term notes), and not more than 180 days (based on the actual maturity date of any short-term notes). At least 95% of the Fund’s portfolio will consist of cash and near-cash investments denominated in Canadian currency. In addition, the Fund must keep at least 5% of its assets invested in cash or liquid securities that are readily convert-ible into cash within one day, and 15% of its assets in cash or in liquid securities that are readily convertible into cash within one week.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Fund may engage in Securities Lending, Repurchase and Reverse Repurchase Transactions after giving 60 days prior notice that it intends to do so. This notice has not been given at the date of this Simplified Prospectus. In the event such notice is given, these transactions 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 Rules.

As the Class will reinvest any distributions received from the Fund in additional units of the Fund and Dividends are not paid at regular times, it is expected the Class will not maintain its net asset value per share at a constant amount.

The Class may engage in Securities Lending, Repurchase and Reverse Repurchase Transactions. To the extent the Class invests directly in money market securities, it intends to follow the same strategies as the Fund.

* Series I Shares for this Class are available under a separate prospectus. Please speak to your Investors Group Consultant for more details.

What does the Class invest in?Investment objectiveThe Class aims to provide a stable current return through exposure to Canadian money market securities. The Class aims to achieve this exposure by investing in money market mutual fund(s) and/or directly in money market securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more other Money Market Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Investors Canadian Money Market Fund (the “Fund”) is the current Underlying Fund of the Class. The Fund aims to provide secure current income, capital stability and liquidity by investing primarily in high quality, short-term Canadian money market investments. To achieve the Fund’s invest-ment objective, it invests primarily in:

• short-term debt issued or guaranteed by the federal, prov-incial or municipal government(s) including treasury bills;

• promissory notes;

Class detailsType of class Money Market

Type of securities Mutual Fund Shares*

Date started Series A – October 24, 2002 Series B – October 24, 2002

Eligible for Registered Plans Yes

Management fee 1.05%

Service fee None

Administration fee 0.10%

Portfolio Advisor I.G. Investment Management, Ltd.

MONEY MARKET CLASS

Investors Canadian Money Market Class

1

2

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percentage of the Class’ assets that were invested in that issuer at any time during the past 12 months.

Similarly, if more than 10% of the Shares of any Class are held by any Shareholder of that Class as at May 31, 2016, including another mutual fund, this risk will be shown here as “Large order risk” together with the percentage of the Class’ assets held by that Shareholder (or Shareholders) on that date. As any Investors Group Fund (excluding other Classes) may invest in any of the Classes at any time during the year, Large order risk may apply at any given time even if this risk is not specifically listed for a particular Class. Where other mutual funds (each, a “Top Fund”) invest in Underlying Funds which have Large order risk, the Top Fund’s perform-ance could also be affected.

As the investments held by each Class may change each day and ranking of the risks can vary from time to time depending on prevailing market conditions, the risks disclosed for each Class are not listed or ranked in any particular order of importance. You can find more information about risks under What are the risks of investing in a mutual fund?

Please see Who should invest in this Class? for details pertaining to assessment of investment risk level for each Class.

4 Who should invest in this Class?This section tells you the kind of person for whom a Class is most suitable. When you’re choosing a Class to invest in, you should think about how comfortable you are with risk and how long you want to keep your money in the investment. Any investment you make should be in keeping with your long-term investment goals.

Risk classification methodologyThe Investment Funds Institute of Canada (“IFIC”) has determined that one measure of the risk associated with an investment in mutual funds is the difference in their returns from year to year (often referred to as “volatility”). On this basis, a general volatility risk rating can be deter-mined for each Class based on industry-accepted guidelines that compare the performance of mutual funds having similar investment objectives and strategies to one or more benchmark indices. Other than as otherwise indicated for any particular Class, each Class is assessed as having a particular level of volatility risk based on the typical expected volatility of its peer group. If the actual perform-ance of a particular Class is more volatile than typical for its group, its risk rating may be adjusted to an appropriate higher rating, and if it is less volatile, it may be adjusted to an appropriate lower rating.

The methodology used to determine the volatility risk ratings of the Classes for purposes of disclosure in this

Investors Group Fund with futures commission merchants established in Canada that are members of a self regulatory organization that is a participating member of the Canadian Investor Protection Fund. In all instances, the amount of margin already held by the applicable futures commission merchant must not exceed 10% of the net asset value of the particular Investors Group Fund at the time of deposit.

Please see the Annual Information Form under Class Gover-nance for more information about Securities Lending, Repur-chase and Reverse Repurchase Transactions and the use of Derivatives by the Classes. The Allegro Portfolios do not intend to engage in such transactions or to use Derivatives themselves, but their Underlying Funds may use them for the above-noted purposes.

Investors Group Corporate Class Inc. may implement material changes from time to time to better enable a Class to meet its investment objective. Any material changes to your Class will become effective only after you have been given at least 21 days prior written notice, and after your Class’ Simplified Prospectus, Annual Information Form and Fund Facts have been revised (as necessary) to reflect the change.

3 What are the risks of investing in the Class?Risk is one of the things you should think about when you’re deciding whether to invest in a Class. This section lists the risks that may be more applicable to the particular Class. Some risks may arise depending upon the invest-ment strategy pursued by a Class. Generally, we have disclosed risks that may apply if a significant portion of the Class’ assets may be exposed to that risk from time to time, even though the Class may not actually invest in securities exposed to that risk now or at any other given time. For example, we disclose foreign investment risk and foreign currency risk where a Canadian equity Class may, but need not, invest a significant portion of its net assets in foreign markets.

The other risks commonly associated with most mutual funds are not specifically listed, including:

• Dilution risk;• Multi-class and corporate risk;• Risk of not being able to sell your investment;• Tax policy risk; and• U.S. tax risk.

If, at any time during the previous 12 months, a Class invested more than 10% of its net assets in any single issuer’s securities, except government and clearing corpora-tion securities, this risk will be shown here as “Concentration risk” together with the name of the issuer and the maximum

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by the Canadian Investment Funds Standards Council, unless otherwise indicated. Accordingly, the specific infor-mation for each Class indicates the volatility risk category that is expected based on its past performance and/or its anticipated volatility. The assessments are reviewed annually. These ranges can change at any time, and as of December 31, 2015 were as follows:

• low – for mutual funds with year-to-year performance that typically varies by up to 6% above or below their expected long-term annual performance (typically for money market funds and some Canadian fixed income funds);

• low to medium – for mutual funds with year-to-year performance that typically varies by up to 6 - 11% above or below their expected long-term annual performance (typically for asset allocation funds, balanced funds, and many fixed income funds);

Simplified Prospectus is the methodology recommended by the Fund Risk Classification Task Force of IFIC. IFIC recommends that the most easily understood form of risk in this context is historical volatility risk as measured by the standard deviation of fund performance. However, IFIC recognizes that other types of risk, both measurable and non-measurable, may exist. It is also important to note that a mutual fund’s historical volatility may not be indicative of its future volatility. The methodology used to identify the investment risk level of each Class is available upon request, at no cost, by contacting the Manager as indicated on the back cover of this Simplified Prospectus.

We have done an analysis of each Class (including the performance of each Class and/or expected performance of each Class) and include our assessment of the volatility risk classification for each Class based on the range of ratings recommended by IFIC according to the Class’ classification

3 What are the risks of investing in the Class?

4 Who should invest in this Class?

5 Distribution policy

6 Class expenses indirectly borne by investors

35Investors Canadian Money Market Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $6 $20 $35 $79

Series B $6 $20 $35 $79

The MER used in this example is net of fees and expenses waived or absorbed by the Manager during the prior year.

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l CREDIT RISK

l FIXED INCOME INVESTMENT RISK

l INTEREST RATE RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your short-term investment goal is capital stability.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

3

4

5

6

32

This section also tells you how often a Class pays return of capital distributions. The Fixed Distribution Series are designed for purchasers who wish to receive a steady, monthly cash flow, and the monthly distributions will generally be comprised of a return of capital of the Corpor-ation. Returns of capital reduce the net asset value of the Class which could result in the depletion of your investment and reduce the Class’ ability to generate the same level of future income. The level of monthly return of capital distri-butions is set at the end of each year on or about December 31st for the next year as a percentage of the net asset value per Share of each Fixed Distribution Series for each Class. The level of the monthly return of capital distributions may be adjusted or discontinued during the year if this is deter-mined by the Corporation to be in the best interests of the applicable Class.

For the Fixed Distribution Series of Investors Dividend Class, monthly distributions will be comprised of ordinary Dividends and/or return of capital distributions.

6 Class expenses indirectly borne by investorsThis table helps you compare the cost of investing in a Class with the cost of investing in other similar mutual funds. It shows the fees and expenses paid by each retail Series of the Class assuming:

• you invest $1,000 in the Class on January 1st;• the Class has a total return of 5% each year, not including

sales charges or other optional expenses;• all Dividends are reinvested each year; and• each Series of the Class has the same MER, after any fee or

expense reductions, each year as it did for the fiscal year ended March 31, 2016.

PLEASE NOTE: The MER used to calculate the numbers in this table does not reflect any fee reductions effective on or about November 1, 2016. The most current fees payable by each Series are provided under the Class details section for each Class. Please also see the Annual Information Form under Significant Changes for more details about these fee reductions.

These Class expenses exclude the advisory fees paid directly by Shareholders to the Principal Distributors for Series U Shares and Series Tu Shares.

You can find more information about expenses under Fees and expenses.

• medium – for mutual funds with year-to-year performance that typically varies by up to 11 - 16% above or below their expected long-term annual performance (typically for Canadian, international and global large Capitalization equity funds);

• medium to high – for mutual funds with year-to-year performance that typically varies by up to 16 - 20% above or below their expected long-term annual performance (typically for equity funds that invest in specific countries, small or medium Capitalization stocks or in certain sectors); and

• high – for mutual funds with year-to-year performance that typically varies by up to more than 20% above or below their expected long-term annual performance (typically for equity funds with a narrow investment focus or that invest in higher-risk regions of the world such as emerging markets).

For example, an investor in a “low” volatility mutual fund with a long-term average return of 5% can expect its annual performance to usually be in a range between -1% and +11%, whereas a “high” volatility mutual fund with the same long-term expected return can expect its annual perform-ance to be in a range that is wider than -15% and +25%, based on the past performance history of the benchmark index of its peer group. (The expected returns used in this example are for illustrative purposes only and are not intended to represent the expected future performance of any Class. Please keep in mind that past performance does not necessarily indicate future performance.)

When determining whether a Class is suitable for you, it is not the volatility of a single Class but that of your entire portfolio that should be the focus. Whether a Class is suitable for you will depend on your own circumstances. Your Investors Group Consultant can help you evaluate whether a particular Class is suitable for you.

5 Distribution policyThis section tells you how often a Class pays capital gains or ordinary Dividends. Generally, such Dividends will be declared payable to Shareholders in a Class by the Board of Directors of the Corporation on the basis that the Board considers to be reasonable. For more information, see Automatic reinvestment of Dividends.

33

Money Market ClassInvestors Canadian Money Market Class

34 Investors Canadian Money Market Class

• non-government obligations issued by chartered banks, including bankers’ acceptances, term deposits, floating rate notes and asset-backed securities; and

• commercial paper issued by corporations, including floating rate notes and asset-backed securities.

Investments in money market securities will have terms to maturity of 365 days or less, and the Fund’s portfolio will have a dollar-weighted average term to maturity not exceeding 90 days (based on the interest rate reset date for any short-term notes), and not more than 180 days (based on the actual maturity date of any short-term notes). At least 95% of the Fund’s portfolio will consist of cash and near-cash investments denominated in Canadian currency. In addition, the Fund must keep at least 5% of its assets invested in cash or liquid securities that are readily convert-ible into cash within one day, and 15% of its assets in cash or in liquid securities that are readily convertible into cash within one week.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Fund may engage in Securities Lending, Repurchase and Reverse Repurchase Transactions after giving 60 days prior notice that it intends to do so. This notice has not been given at the date of this Simplified Prospectus. In the event such notice is given, these transactions 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 Rules.

As the Class will reinvest any distributions received from the Fund in additional units of the Fund and Dividends are not paid at regular times, it is expected the Class will not maintain its net asset value per share at a constant amount.

The Class may engage in Securities Lending, Repurchase and Reverse Repurchase Transactions. To the extent the Class invests directly in money market securities, it intends to follow the same strategies as the Fund.

* Series I Shares for this Class are available under a separate prospectus. Please speak to your Investors Group Consultant for more details.

What does the Class invest in?Investment objectiveThe Class aims to provide a stable current return through exposure to Canadian money market securities. The Class aims to achieve this exposure by investing in money market mutual fund(s) and/or directly in money market securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more other Money Market Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Investors Canadian Money Market Fund (the “Fund”) is the current Underlying Fund of the Class. The Fund aims to provide secure current income, capital stability and liquidity by investing primarily in high quality, short-term Canadian money market investments. To achieve the Fund’s invest-ment objective, it invests primarily in:

• short-term debt issued or guaranteed by the federal, prov-incial or municipal government(s) including treasury bills;

• promissory notes;

Class detailsType of class Money Market

Type of securities Mutual Fund Shares*

Date started Series A – October 24, 2002 Series B – October 24, 2002

Eligible for Registered Plans Yes

Management fee 1.05%

Service fee None

Administration fee 0.10%

Portfolio Advisor I.G. Investment Management, Ltd.

MONEY MARKET CLASS

Investors Canadian Money Market Class

35Investors Canadian Money Market Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $6 $20 $35 $79

Series B $6 $20 $35 $79

The MER used in this example is net of fees and expenses waived or absorbed by the Manager during the prior year.

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l CREDIT RISK

l FIXED INCOME INVESTMENT RISK

l INTEREST RATE RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your short-term investment goal is capital stability.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

36

37

Balanced ClassInvestors Dividend Class

38 Investors Dividend Class

Investment strategiesThe Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achieve-ment of the investment objective of the Class. The Under-lying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

At the date of this Simplified Prospectus, the Class intends to invest 100% of its net assets in Investors Dividend Fund (the “Fund”). The Fund selects diversified investments such as equities and fixed income securities which provide above-average current income. In order to gauge an above-average income yield, the Fund uses as a yardstick the income yield that could be obtained on a large sample of common shares such as the S&P/TSX Composite Index.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Fund 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 Rules.

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

* This Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide above-average income yield on its investments, protect the value of its investments and achieve long-term capital appreciation consistent with the fulfillment of the first two objectives. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity and/or fixed income securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – December 18, 2013 Series B – December 18, 2013 Series Jdsc – December 18, 2013 Series Jnl – December 18, 2013 Series Tdsc – December 18, 2013 Series Tnl – December 18, 2013 Series TJdsc – December 18, 2013 Series TJnl – December 18, 2013 Series U – December 18, 2013 Series Tu – December 18, 2013

Eligible for registered plans Yes*

Management fee 1.70% (Series A, B, Tdsc and Tnl Shares) 1.45% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.70% (Series U and Tu Shares)

Service fee 0.30% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.40% (Series B, Tnl, Jnl and TJnl Shares)

Administration fee 0.20%

Portfolio Advisor I.G. Investment Management, Ltd.

BALANCED CLASS

Investors Dividend Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

39Investors Dividend Class

For the Fixed Distribution Series, ordinary Dividends and/or return of capital distributions will be paid near the end of each month (the “Monthly Payments”). The Monthly Payments may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Please ask your Investors Group Consultant for the current level of the Monthly Payments paid by the Fixed Distribution Series. Monthly Payments are automatically paid out to you in cash; however, you may ask that Monthly Payments be reinvested. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $25 $78 $136 $309

Series B $26 $80 $141 $321

Series Jdsc $22 $68 $120 $272

Series Jnl $23 $71 $125 $284

Series Tdsc $24 $77 $134 $306

Series Tnl $25 $78 $136 $309

Series TJdsc $22 $70 $123 $280

Series TJnl $23 $72 $126 $287

Series U $10 $32 $56 $128

Series Tu $10 $32 $56 $126

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l CREDIT RISK

l DERIVATIVES RISK

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility based on its anticipated volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is income with a growth component.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyFor Series A Shares, Series B Shares, Series Jdsc Shares, Series Jnl Shares and Series U Shares, the Corporation’s Board of Directors will usually declare ordinary Dividends near the end of each quarter and the Class will pay such Dividends. The Corporation may also pay capital gains Dividends which are not paid at regular times. The Corpora-tion’s Board of Directors determines if and when Dividends are paid.

40

41

Canadian Equity ClassesInvestors Canadian Equity Class

Investors Canadian Growth Class

Investors Canadian Large Cap Value Class

Investors Canadian Small Cap Class

Investors Canadian Small Cap Growth Class

Investors Core Canadian Equity Class

Investors Low Volatility Canadian Equity Class

Investors Quebec Enterprise Class

Investors Summa SRI™ Class

IG Beutel Goodman Canadian Equity Class

IG FI Canadian Equity Class

IG Fiera Canadian Small Cap Class

IG Franklin Bissett Canadian Equity Class

IG Mackenzie Canadian Equity Growth Class

42

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Canadian Equity Class

At the date of this Simplified Prospectus, Investors Canadian Equity Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in the common shares of leading, large and medium-sized Canadian companies in various indus-tries. To achieve the Fund’s investment objective, the Fund looks at broad economic trends for various industries, and then selects companies from these industries based on:

• the strength of the company’s balance sheet;• how the company has been performing;• the management team at the company; and• the valuation of the company.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Fund 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 Rules.

The Class may also engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of Canadian corporations. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achieve-ment of the investment objective of the Class. The Under-lying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

CANADIAN EQUITY CLASSES

Investors Canadian Equity Class

43Investors Canadian Equity Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $83 $146 $333

Series B $27 $87 $152 $346

Series Jdsc $24 $74 $130 $297

Series Jnl $25 $79 $138 $313

Series U $12 $37 $65 $148

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

44

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Canadian Growth Class

At the date of this Simplified Prospectus, Investors Canadian Growth Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in Canadian equity markets. To achieve the Fund’s investment objective, the Fund seeks to invest primarily in the common shares of Canadian companies that have:

• above-average growth prospects;• strong operating metrics including margins, return on

investment capital and return on equity;• strong management; and• growth principally sourced from capital rather than

income yield.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Fund 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 Rules.

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the Canadian equity markets. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – July 21, 2006 Series B – July 21, 2006 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

CANADIAN EQUITY CLASSES

Investors Canadian Growth Class

45Investors Canadian Growth Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $83 $146 $333

Series B $27 $86 $151 $344

Series Jdsc $23 $74 $130 $295

Series Jnl $25 $78 $137 $312

Series U $12 $38 $67 $152

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

46 Investors Canadian Large Cap Value Class

At the date of this Simplified Prospectus, Investors Canadian Large Cap Value Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in common shares of Canadian companies that have:

• strong balance sheets;• a history of performance;• strong management; and• the ability to provide consistent income streams with solid

future growth potential.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Fund 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 Rules.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about Portfolio Turnover Rate.)

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of Canadian corporations. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

CANADIAN EQUITY CLASSES

Investors Canadian Large Cap Value Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

47Investors Canadian Large Cap Value Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $147 $334

Series B $28 $87 $152 $347

Series Jdsc $24 $75 $131 $298

Series Jnl $25 $79 $138 $313

Series U $12 $38 $67 $152

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

48 Investors Canadian Small Cap Class

At the date of this Simplified Prospectus, Investors Canadian Small Cap Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in Canadian small cap corporations diversified geographically and by industry. To achieve the Fund’s investment objective, it invests primarily in:

• the common shares of small Capitalization Canadian companies diversified geographically and by industry;

• companies with positive fundamentals, strong balance sheets and compelling valuations; and

• companies that have strong management teams, are market leaders, address market niches and have signifi-cant potential markets using a blended style which incorporates both growth and value stocks that meet the investment criteria under a fundamental approach.

The Fund may also:

• invest in corporations with larger Capitalizations if market conditions warrant; and

• hold securities in corporations which later achieve a larger Capitalization.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Fund 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 Rules.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of small Capital-ization Canadian corporations. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

CANADIAN EQUITY CLASSES

Investors Canadian Small Cap Class

49

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Canadian Small Cap Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $89 $156 $356

Series B $29 $92 $161 $367

Series Jdsc $25 $80 $140 $320

Series Jnl $26 $83 $145 $330

Series U $14 $43 $75 $171

You can find more information about expenses under Fees and expenses.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily small cap companies.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

50 Investors Canadian Small Cap Growth Class

At the date of this Simplified Prospectus, Investors Canadian Small Cap Growth Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in Canadian small cap corpor-ations. To achieve the Fund’s investment objective, it invests primarily in:

• the common shares of small Capitalization Canadian corporations diversified geographically and by industry;

• companies with positive fundamentals, strong balance sheets and compelling valuations;

• companies with above-average growth prospects; and• companies that have strong management teams, are

market leaders, address market niches and have signifi-cant potential markets, using a growth investment style with growth stocks.

The Fund may also:

• invest in corporations with larger Capitalizations if market conditions warrant; and

• hold investments in corporations which later achieve a larger Capitalization.

The Manager intends to apply fundamental analysis to stock selection and valuation.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will not exceed 50% of its assets, at the discretion of the Portfolio Advisor.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Fund 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 Rules.

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of small Capital-ization Canadian corporations. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

CANADIAN EQUITY CLASSES

Investors Canadian Small Cap Growth Class

51

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Canadian Small Cap Growth Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $89 $156 $356

Series B $30 $93 $163 $371

Series Jdsc $25 $79 $139 $317

Series Jnl $26 $80 $141 $321

Series U $14 $44 $76 $174

You can find more information about expenses under Fees and expenses.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily small cap companies.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

52

CANADIAN EQUITY CLASSES

Investors Core Canadian Equity Class

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – November 28, 2011 Series B – November 28, 2011 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for registered plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to Canadian equity securities. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in Investors Core Canadian Equity Fund (the “Fund”) or any successor mutual fund(s). The Fund is an Underlying Fund of the Class.

The Fund aims to provide long-term capital growth by investing primarily in Canadian equity securities. To achieve the Fund’s objective, investments are allocated by the Portfolio Advisor to specific components that are generally managed within market capitalization (cap) ranges. The components for the Fund are:

• Canadian Large Cap;• Canadian Mid Cap; and• Canadian Small Cap.

The allocations to the components will generally reflect the broad Canadian market. The Portfolio Advisor will vary the allocations based on an assessment of overall economic and market conditions from time to time, and may change the Fund’s investment components at any time without prior notice. Generally speaking, it is the Fund’s intention that its investment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Fund 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 Rules.

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Investors Core Canadian Equity Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

53

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $83 $146 $333

Series B $28 $87 $152 $347

Series Jdsc $23 $74 $130 $295

Series Jnl $24 $77 $134 $306

Series U $12 $37 $65 $147

You can find more information about expenses under Fees and expenses.

Investors Core Canadian Equity Class

54

CANADIAN EQUITY CLASSES

Investors Low Volatility Canadian Equity Class

Class detailsType of class Canadian Equity

Type of securities Mutual fund Shares

Date started Series A – July 13, 2015 Series B – July 13, 2015 Series Jdsc – July 13, 2015 Series Jnl – July 13, 2015 Series U – July 13, 2015

Eligible for registered plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to Canadian equity securities, while seeking to provide lower volatility. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achieve-ment of the investment objective of the Class. The Under-lying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

At the date of this Simplified Prospectus, the Class intends to invest 100% of its net assets in Investors Low Volatility Canadian Equity Fund (the “Fund”) or any successor mutual fund(s). The Fund aims to provide long-term capital growth by investing primarily in Canadian equity securities, while seeking to provide lower volatility than the broad Canadian equity market over a full market cycle (generally at least three years or more). To achieve its objective, the Fund invests primarily in Canadian equity securities, with a focus on companies and/or sectors that are believed to have lower sensitivity to broader market movements.

The Fund currently intends to use Derivatives, including Options, as permitted by the Rules, to achieve its investment objective of reducing portfolio volatility.

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

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

Investors Low Volatility Canadian Equity Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

55

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the period from its inception to May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l LARGE ORDER RISK – because Shares representing 10.04% of Class assets were held by C M Roth Holdings on May 31, 2016.

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility, based on its anticipated volatility. For more information about this classification please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $147 $334

Series B $27 $87 $152 $346

Series Jdsc $23 $74 $130 $295

Series Jnl $25 $80 $140 $320

Series U $13 $39 $69 $157

You can find more information about expenses under Fees and expenses.

Investors Low Volatility Canadian Equity Class

56

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Quebec Enterprise Class

At the date of this Simplified Prospectus, Investors Quebec Enterprise Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in Quebec corporations in various industries. To achieve the Fund’s investment objective, the Advisor invests primarily in large, medium, and small cap Quebec companies based on:

• the strategic positioning of the company within its industry;• the quality of the management and its financial implication

in the enterprise;• the balance sheet of the company in relationship to its

growth rate (this includes areas like cash flow); and• the expectation in earnings growth.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will range from 0% to 30% of its assets, but the Fund may invest up to 50% of its assets in foreign securities from time to time.

The Fund 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 Rules.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of Quebec corpora-tions. Quebec corporations are corporations that:

• have their head office located in Quebec;• have operations based primarily in Quebec; or• have significant assets in Quebec.

The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

CANADIAN EQUITY CLASSES

Investors Quebec Enterprise Class

57Investors Quebec Enterprise Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $87 $152 $346

Series B $28 $90 $157 $357

Series Jdsc $25 $78 $136 $309

Series Jnl $25 $80 $140 $318

Series U $13 $40 $71 $161

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily Quebec companies.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

58

CANADIAN EQUITY CLASSES

Investors Summa SRI™ Class

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

What does the Class invest in?Investment objectiveThe Class aims to earn moderate income and long-term capital growth through exposure to socially responsible investments primarily in the common shares of Canadian corporations. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

At the date of this Simplified Prospectus, Investors Summa SRI™ Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide moderate income and long-term capital growth by making socially responsible investments primarily in the Canadian equity markets. The Fund follows a socially responsible approach to investing. To achieve the Fund’s investment objective, the Fund seeks to invest primarily in the common shares of Canadian companies that have adopted progressive standards and practices towards the environment, human rights and other social issues.

The Fund does not invest in companies whose revenues are primarily derived from alcohol, tobacco, gambling, pornog-raphy or critical weapon systems.

The Fund uses third-party global SRI screening services to assist with the evaluation of companies against these socially responsible criteria and to assess suitability for inclusion in the Fund’s investable universe.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will not exceed 50% of its assets at the discretion of the Portfolio Advisor.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Fund 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 Rules.

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

Investors Summa SRI™ Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

59

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class’ investments are restricted to those that are socially responsible.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is income with a growth component.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $83 $146 $333

Series B $27 $86 $151 $344

Series Jdsc $24 $75 $131 $299

Series Jnl $24 $76 $134 $304

Series U $12 $38 $66 $151

You can find more information about expenses under Fees and expenses.

Investors Summa SRI™ Class

60

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Beutel Goodman Canadian Equity Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in common shares of Canadian corporations.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class seeks to achieve its investment objective by:

• focusing on bottom-up stock by stock analysis;• seeking undervalued companies with good balance sheets;• having strict growth, profitability, and valuation criteria; and• having concentrated portfolios.

Generally speaking, the Class’ investment in foreign secur-ities will range from 0% to 30% of its assets, but the Class may invest up to 50% of its assets in foreign securities.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Beutel, Goodman & Company Ltd. (Toronto, Ontario)

CANADIAN EQUITY CLASSES

IG Beutel Goodman Canadian Equity Class

61IG Beutel Goodman Canadian Equity Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $148 $336

Series B $28 $88 $153 $349

Series Jdsc $24 $75 $131 $299

Series Jnl $25 $78 $136 $311

Series U $12 $38 $67 $153

You can find more information about expenses under Fees and expenses.

62

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG FI Canadian Equity Class

Generally speaking, the Class’ investment in foreign secur-ities will range from 0% to 30% of its assets, but the Class may invest up to 50% of its assets in foreign securities.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

The Class may also invest in asset-backed securities, including mortgage-backed securities. The Class may invest up to 10% of its net assets in gold and/or silver and Deriva-tives, the underlying interest of which are gold and/or silver and certain gold/silver exchange traded funds pursuant to regulatory relief it has obtained.

Equity management style

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

l CREDIT RISK

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in equity securities of Canadian corporations.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class aims to generally invest in the same sectors and in approximately the same proportion as the Standard & Poor’s/TSX Capped Composite Index. These investments may or may not be included in this index. The S&P/TSX Capped Composite Index is made up of the largest companies traded on The Toronto Stock Exchange, which are currently divided into 10 sectors, such as energy and financial services. If a company makes up more than 10% of the value of the Index, it is “capped” at 10%. If an investment is not included in this Index, the Class can decide which sector it belongs to. The Class will regularly review the target allocations and rebalance the allocation, when necessary.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Fidelity Investments Canada ULC (Toronto, Ontario)

CANADIAN EQUITY CLASSES

IG FI Canadian Equity Class

63IG FI Canadian Equity Class

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $147 $335

Series B $28 $87 $152 $347

Series Jdsc $24 $75 $132 $300

Series Jnl $25 $78 $137 $312

Series U $12 $38 $67 $153

You can find more information about expenses under Fees and expenses.

64

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Fiera Canadian Small Cap Class

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about Portfolio Turnover Rate.)

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily small and mid cap sized companies.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of small and medium Capitalization Canadian corporations.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class uses a bottom-up, growth investment style. It seeks to invest in companies at an early stage of their development and hold them until they achieve success through rising sales, earnings and cash flow. The Class evaluates companies based on internal and third-party research. Interviews with company management are crucial for determining the company’s dedication and growth strategies. The Class will only invest in a company if it believes the share price is attractive relative to growth potential.

Generally speaking, it is the Class’ intention that its invest-ment in foreign securities will not exceed 50% of its assets.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.15% (Series A and B Shares) 1.90% (Series Jdsc and Jnl Shares) 1.15% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Fiera Capital Corporation (Montreal, Quebec)

CANADIAN EQUITY CLASSES

IG Fiera Canadian Small Cap Class

65IG Fiera Canadian Small Cap Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $30 $94 $164 $374

Series B $31 $97 $169 $385

Series Jdsc $27 $85 $148 $338

Series Jnl $28 $89 $155 $353

Series U $15 $48 $84 $192

You can find more information about expenses under Fees and expenses.

66

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Franklin Bissett Canadian Equity Class

Generally speaking, the Class’ investment in foreign secur-ities will range from 0% to 30% of its assets, but the Class may invest up to 50% of its assets in foreign securities.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital appreciation by investing primarily in a diversified portfolio of mid to large Capitalization Canadian equities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class uses a bottom-up approach to identify companies that have a history of sustainable, replicable growth. Using this approach, the Class:

• invests primarily in equity securities of mid and large Capitalization growth-oriented companies at reasonable prices;

• may invest in foreign securities;• may invest up to 10% of the market value of the Class in

mutual funds managed by the Sub-advisor; and• may hold a portion of its assets in cash, money market

securities or money market funds while seeking investment opportunities or for defensive purposes.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – August 13, 2004 Series B – August 13, 2004 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Franklin Bissett Investment Management (Calgary, Alberta), part of Franklin Templeton Investments Corp. (Toronto, Ontario)

CANADIAN EQUITY CLASSES

IG Franklin Bissett Canadian Equity Class

67IG Franklin Bissett Canadian Equity Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $147 $335

Series B $28 $87 $153 $348

Series Jdsc $24 $75 $131 $299

Series Jnl $25 $79 $138 $313

Series U $12 $39 $68 $155

You can find more information about expenses under Fees and expenses.

68

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Mackenzie Canadian Equity Growth Class

The Fund follows a growth style of investing. It looks for companies that it believes are growing at faster than market rates and whose share prices may be expected to follow suit.

Investments are made primarily in companies with a history of predictable growth. In constructing the portfolio, the Sub-advisor prefers to invest in companies with simple, easily understood business models, those that have demon-strated earnings and cash flow growth and preferably those that are able to finance growth internally, rather than rely on debt or equity markets for financing.

Generally speaking, it is the Fund’s intention that its invest-ment in foreign securities will not exceed 50% of its assets.

The Fund may invest up to 10% of the market value of the Fund in mutual funds managed by the Sub-advisor or other Sub-advisors of the Fund.

The Fund 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

What does the Class invest in?Investment objectiveThe Class seeks to provide long-term capital growth by exposure to the common shares of Canadian-based corpora-tions of any size. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in IG Mackenzie Canadian Equity Growth Fund (the “Fund”) or any successor mutual fund(s). The Fund is an Underlying Fund of the Class.

The Fund uses a systematic and disciplined stock selection process to identify companies that can show above-average growth in earnings, cash flow, revenues or, in the case of natural resource companies, reserves. The Fund invests primarily in the common shares of well-established Canadian companies.

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – July 20, 2006 Series B – July 20, 2006 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Mackenzie Financial Corporation (Toronto, Ontario)

CANADIAN EQUITY CLASSES

IG Mackenzie Canadian Equity Growth Class

69IG Mackenzie Canadian Equity Growth Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $147 $334

Series B $28 $87 $153 $348

Series Jdsc $24 $75 $131 $299

Series Jnl $25 $79 $138 $313

Series U $12 $38 $67 $152

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 52.91% of its net assets in short-term notes of Royal Bank of Canada during the 12-month period ended May 31, 2016 and up to 100% of its net assets in the Fund from September 4, 2015 to May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

70

71

U.S. Equity ClassesInvestors Core U.S. Equity Class

Investors U.S. Large Cap Value Class

Investors U.S. Opportunities Class

Investors U.S. Small Cap Class

IG AGF U.S. Growth Class

IG FI U.S. Large Cap Equity Class

IG Putnam Low Volatility U.S. Equity Class

IG Putnam U.S. Growth Class

72

U.S. EQUITY CLASSES

Investors Core U.S. Equity Class

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – November 28, 2011 Series B – November 28, 2011 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for registered plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd. (U.S. Large Cap Value; U.S. Mid Cap)

Sub-advisors Aristotle Capital Boston, LLC (Boston, Massachusetts) (U.S. Small Cap) Allianz Global Investors U.S. LLC (San Francisco, California) (U.S. Large Cap Growth)

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to U.S. equity securities. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in Investors Core U.S. Equity Fund (the “Fund”) or any successor mutual fund(s). The Fund is an Underlying Fund of the Class.

The Fund aims to provide long-term capital growth by investing primarily in U.S. equity securities. To achieve the Fund’s objective, investments are allocated by the Portfolio Advisor to specific components that are managed within market capitalization (cap) ranges. The components for the Fund are:

• U.S. Large Cap Value;• U.S. Large Cap Growth;• U.S. Mid Cap; and• U.S. Small Cap.

The allocations to the components will generally reflect the broad U.S. market. The Portfolio Advisor will vary the allocations based on an assessment of overall economic and market conditions from time to time, and may change the Fund’s investment components at any time without prior notice.

The Fund 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 Rules.

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

Investors Core U.S. Equity Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

73

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $148 $336

Series B $28 $88 $154 $351

Series Jdsc $24 $75 $132 $300

Series Jnl $25 $79 $139 $316

Series U $12 $38 $67 $152

You can find more information about expenses under Fees and expenses.

Investors Core U.S. Equity Class

74

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors U.S. Large Cap Value Class

At the date of this Simplified Prospectus, Investors U.S. Large Cap Value Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in U.S. equity markets. To achieve the Fund’s investment objective, while seeking to protect the value of its investments, the Fund invests primarily in the common shares of U.S. corporations that:

• exhibit good return on investment through low capital investment requirements, strong cash flow, good manage-ment and a competitive position in their industry; and

• represent good value relative to other companies in their industry.

The Fund 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 Rules.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of U.S. corpora-tions. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

U.S. EQUITY CLASSES

Investors U.S. Large Cap Value Class

75Investors U.S. Large Cap Value Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $147 $335

Series B $28 $87 $153 $348

Series Jdsc $24 $75 $131 $299

Series Jnl $25 $79 $138 $313

Series U $12 $38 $67 $153

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

76

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors U.S. Opportunities Class

The Fund 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 Rules.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily mid-cap companies.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of medium Capital-ization U.S. corporations. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

At the date of this Simplified Prospectus, Investors U.S. Opportunities Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth by investing primarily in mid-sized U.S. corpora-tions. To achieve the Fund’s investment objective, the Fund seeks corporations that pass strict growth, profitability and valuation criteria.

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

U.S. EQUITY CLASSES

Investors U.S. Opportunities Class

77Investors U.S. Opportunities Class

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $148 $336

Series B $28 $88 $153 $349

Series Jdsc $24 $75 $132 $300

Series Jnl $25 $79 $138 $313

Series U $12 $39 $68 $155

You can find more information about expenses under Fees and expenses.

78

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors U.S. Small Cap Class

To achieve the Class’ investment objective, it may:

• invest in corporations with larger Capitalizations if market conditions warrant; and

• hold securities in corporations which later achieve a larger Capitalization.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily small cap corporations.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of small Capital-ization U.S. corporations or small cap corporations that conduct the majority of their business in the U.S.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, it will:

• invest primarily in small Capitalization U.S. corporations diversified geographically and by industry;

• invest in corporations with positive fundamentals, a strong balance sheet and compelling valuations;

• use a blended style approach which will meet the invest-ment criteria under a fundamental approach; and

• invest in corporations that have strong management teams, are market leaders, address market niches and have significant potential markets.

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Aristotle Capital Boston, LLC (Boston, Massachusetts)

U.S. EQUITY CLASSES

Investors U.S. Small Cap Class

79Investors U.S. Small Cap Class

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $90 $157 $358

Series B $30 $93 $163 $371

Series Jdsc $26 $81 $142 $322

Series Jnl $27 $84 $147 $334

Series U $14 $44 $78 $177

You can find more information about expenses under Fees and expenses.

80

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG AGF U.S. Growth Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of U.S. corporations.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class follows a bottom-up growth investment style. It uses fundamental analysis to evaluate a company’s growth potential, financial condition and management. As part of this evaluation, the Class looks for companies that have above-average earnings and/or revenue growth, display key growth characteristics relative to their own history, industry or overall market and can sustain their competitive position.

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee Until October 31, 2016 2.15% (Series A and B Shares)

1.90% (Series Jdsc and Jnl Shares) 1.15% (Series U Shares)

Effective November 1, 2016 1.90% (Series A and B Shares) 1.65% (Series Jdsc and Jnl Shares) 0.90% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor AGF Investments Inc. (Toronto, Ontario)

U.S. EQUITY CLASSES

IG AGF U.S. Growth Class

81IG AGF U.S. Growth Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $30 $95 $167 $379

Series B $31 $98 $171 $389

Series Jdsc $27 $86 $151 $343

Series Jnl $28 $89 $156 $356

Series U $16 $49 $87 $197

The expenses shown in the table do not reflect any fee reductions effective November 1, 2016.

You can find more information about expenses under Fees and expenses.

82

U.S. EQUITY CLASSES

IG FI U.S. Large Cap Equity Class

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – July 12, 2010 Series B – July 12, 2010 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for registered plans Yes

Management fee 1.90% (Series A and B Shares) 1.65% (Series Jdsc and Jnl Shares) 0.90% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Fidelity Investments Canada ULC (Toronto, Ontario)

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth through exposure to U.S. equity securities. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class intends to invest in IG FI U.S. Large Cap Equity Fund (the “Fund”) or any successor mutual fund(s). The Fund is an Underlying Fund of the Class.

The Fund aims to provide long-term capital appreciation by investing primarily in equity securities of U.S. companies. The Fund focuses on a fundamental bottom-up, active stock and industry selection strategy. The Fund aims to invest in sectors in approximately the same proportions as those represented in the Standard & Poor 500 Index. Its invest-ments may or may not be included in this Index and if an investment is not included in the Index, the Fund can decide into which sector the investment belongs. This could result in exposure to investments outside of its benchmark Index. The Fund will invest in companies following a thorough review of management, financial conditions and potential for earnings growth over the long term.

The Fund 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 investment objectives and enhancing the Fund’s returns as permitted by the Rules.

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in securities of the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

IG FI U.S. Large Cap Equity Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

83

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $87 $152 $346

Series B $28 $90 $157 $358

Series Jdsc $25 $78 $136 $309

Series Jnl $25 $79 $139 $317

Series U $13 $40 $70 $160

You can find more information about expenses under Fees and expenses.

IG FI U.S. Large Cap Equity Class

84

U.S. EQUITY CLASSES

IG Putnam Low Volatility U.S. Equity Class

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – December 18, 2013 Series B – December 18, 2013 Series Jdsc – December 18, 2013 Series Jnl – December 18, 2013 Series U – December 18, 2013

Eligible for registered plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Putnam Investments Canada ULC, operating in Manitoba as Putnam Management (Toronto, Ontario); and its affiliate, The Putnam Advisory Company, LLC (Boston, Massachusetts)

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to U.S. equity securities, while seeking to provide lower volatility. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achieve-ment of the investment objective of the Class. The Under-lying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

At the date of this Simplified Prospectus, the Class intends to invest 100% of its net assets in IG Putnam Low Volatility U.S. Equity Fund (the “Fund”). The Fund seeks to provide lower volatility than the broad U.S. equity market over a full market cycle (generally at least three years or more) and it invests mainly in equity securities of U.S. companies usually across all sectors. Within each sector, the Fund generally focuses its investments on those stocks that are believed to likely have lower sensitivity to broader market or sector movements.

The Fund currently intends to use Derivatives, including Options, as permitted by the Rules, to achieve its investment objective of reducing portfolio volatility.

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

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

For general information about investment strategies, see What does the Class invest in? earlier in this Simplified Prospectus.

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

l CONCENTRATION RISK – the Class invested up to 100% of its net assets in the Fund during the period from its inception to May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

IG Putnam Low Volatility U.S. Equity Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

85

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility based on its anticipated volatility. For more information about this classification, please see Risk clas-sification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $85 $148 $338

Series B $28 $87 $152 $347

Series Jdsc $24 $75 $132 $300

Series Jnl $25 $78 $137 $312

Series U $12 $38 $67 $153

You can find more information about expenses under Fees and expenses.

IG Putnam Low Volatility U.S. Equity Class

86

U.S. EQUITY CLASSES

IG Putnam U.S. Growth Class

Class detailsType of class U.S. Equity

Type of securities Mutual Fund Shares

Date started Series A – November 28, 2011 Series B – November 28, 2011 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for registered plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Putnam Investments Canada ULC, operating in Manitoba as Putnam Management (Toronto, Ontario); and its affiliate, The Putnam Advisory Company, LLC (Boston, Massachusetts)

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to U.S. equity securities. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in IG Putnam U.S. Growth Fund (the “Fund”) or any successor mutual fund(s). The Fund is an Underlying Fund of the Class.

The Fund aims to provide long-term capital appreciation by investing primarily in U.S. equity securities. To achieve the Fund’s investment objective, the Fund will invest primarily in the equity securities of large U.S. corporations that have:

• strong management teams and solid financial positions;• demonstrated attractive and sustainable growth in sales,

earnings and cash flow; and• above-average growth prospects.

The Fund 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 investment objectives and enhancing the Fund’s returns as permitted by the Rules.

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

IG Putnam U.S. Growth Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

87

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $84 $147 $335

Series B $28 $87 $153 $348

Series Jdsc $24 $75 $131 $299

Series Jnl $25 $78 $137 $312

Series U $12 $39 $68 $155

You can find more information about expenses under Fees and expenses.

IG Putnam U.S. Growth Class

88

89

Global & International Equity ClassesInvestors European Equity Class

Investors European Mid-Cap Equity Class

Investors Global Class

Investors Greater China Class

Investors International Equity Class

Investors International Small Cap Class

Investors Low Volatility Global Equity Class

Investors North American Equity Class

Investors Pacific International Class

Investors Pan Asian Equity Class

IG AGF Global Equity Class

IG Mackenzie Cundill Global Value Class

IG Mackenzie Emerging Markets Class

IG Mackenzie Ivy European Class

IG Mackenzie Ivy Foreign Equity Class

IG Templeton International Equity Class

90

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors European Equity Class

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of European corporations.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class primarily selects investments based on the following criteria:

• prospects for economic growth, inflation, interest rates, currency strength, corporate profits and stock market valu-ations for each country; and

• prospects for growth in earnings and stock market valuation outlooks for specific industries.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors European Equity Class

91Investors European Equity Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $88 $154 $351

Series B $29 $91 $160 $365

Series Jdsc $25 $79 $138 $313

Series Jnl $26 $81 $143 $325

Series U $13 $42 $74 $169

You can find more information about expenses under Fees and expenses.

92

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors European Mid-Cap Equity Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SPECIALIZATION RISK – because the Class invests primarily in mid-cap European markets.

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of medium Capitalization European corporations.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class invests primarily in mid-cap European companies with above-average growth potential.

The Class will seek medium-size corporations with above-average growth prospects based on an assessment of:

• earnings;• cash flow;• financial strength;• management; and• industry dynamics.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors European Mid-Cap Equity Class

93Investors European Mid-Cap Equity Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $88 $154 $351

Series B $29 $91 $159 $362

Series Jdsc $25 $79 $138 $315

Series Jnl $26 $82 $144 $329

Series U $13 $42 $74 $169

You can find more information about expenses under Fees and expenses.

94

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Global Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in common shares of companies around the world.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class selects investments of high-quality companies from around the world that offer above-average growth prospects.

The Class combines top down macro and sector views with fundamental stock analysis. The Class takes long-term strategic views in terms of geographic and sector allocations while the Class’ approach to stock selection emphasizes a fundamental approach placing importance on return on equity, free cash flow generation and price to book among other metrics.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors Global Class

95Investors Global Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $87 $153 $348

Series B $29 $90 $159 $361

Series Jdsc $25 $79 $138 $313

Series Jnl $26 $81 $143 $325

Series U $13 $42 $74 $168

You can find more information about expenses under Fees and expenses.

96

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Greater China Class

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 11.42% and 16.26% of its net assets in equity securities of China Mobile Ltd. and Tencent Holding Ltd., respectively, and 14.08% of its net assets in short-term notes of Royal Bank of Canada, during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments primarily to the Greater China region.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a high level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in equity securities of companies located in China, Hong Kong, Taiwan and Singapore and in companies that derive a significant portion of their revenues from the Greater China region.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class will invest in securities of Chinese, Hong Kong, Taiwanese and Singapore issuers and other investments that are tied economically to the Greater China region.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – August 14, 2006 Series B – August 14, 2006 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

Sub-advisor I.G. Investment Management (Hong Kong) Limited (Hong Kong)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors Greater China Class

97Investors Greater China Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $89 $156 $355

Series B $29 $92 $162 $369

Series Jdsc $25 $79 $139 $317

Series Jnl $26 $82 $144 $329

Series U $14 $44 $77 $175

You can find more information about expenses under Fees and expenses.

98

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors International Equity Class

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2009 Series B – July 13, 2009 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in equity securities of companies outside Canada and the U.S.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class seeks investments of high-quality companies located outside of Canada and the U.S. that offer above-average growth prospects.

The Class combines top down macro and sector views with fundamental stock analysis. The Class takes long-term strategic views in terms of geographic and sector allocations while the Class’ approach to stock selection emphasizes a fundamental approach placing importance on return on equity, free cash flow generation and price to book among other metrics.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 22.71% of its net assets in short-term notes of Royal Bank of Canada during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Investors International Equity Class

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

99

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $87 $152 $346

Series B $28 $90 $157 $357

Series Jdsc $25 $79 $139 $316

Series Jnl $26 $83 $146 $333

Series U $14 $43 $75 $170

You can find more information about expenses under Fees and expenses.

Investors International Equity Class

100

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors International Small Cap Class

To achieve the Class’ investment objective, it may hold securities in corporations which later achieve a larger Capitalization.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the corporation limits its investments to primarily small cap corporations outside of Canada and the U.S.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of small Capitaliz-ation corporations outside of Canada and the U.S.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, it will:

• invest primarily in small corporations diversified geograph-ically and by industry in all markets excluding Canada and the U.S.;

• invest in corporations which possess innovative and cost-effective products and services which are well positioned for substantial growth; and

• favour corporations that are attractively valued with a competitive advantage (market share, global scale, low cost) and strong experienced management/ownership teams.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.05% (Series A and B Shares) 1.80% (Series Jdsc and Jnl Shares) 1.05% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

Sub-advisor I.G. Investment Management (Hong Kong) Limited (Hong Kong)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors International Small Cap Class

101Investors International Small Cap Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $29 $91 $160 $364

Series B $30 $93 $164 $373

Series Jdsc $26 $82 $144 $329

Series Jnl $27 $86 $151 $343

Series U $15 $46 $80 $183

You can find more information about expenses under Fees and expenses.

102

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Low Volatility Global Equity Class

At the date of this Simplified Prospectus, the Class intends to invest 100% of its net assets in Investors Low Volatility Global Equity Fund (the “Fund”) or any successor mutual fund(s). The Fund aims to provide long-term capital growth by investing primarily in equity securities of companies around the world, while seeking to provide lower volatility than the broad global equity market over a full market cycle (generally at least three years or more). To achieve its objective, the Fund invests primarily in equity securities from around the world, with a focus on companies and/or sectors that are believed to have lower sensitivity to broader market movements.

The Fund currently intends to use Derivatives, including Options, as permitted by the Rules, to achieve its investment objective of reducing portfolio volatility.

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

The Class may also invest directly in equity securities or engage in Securities Lending, Repurchase and Reverse Repurchase Transactions and use Derivatives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strategies as the Fund.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the period from its inception to May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to equity securities of companies around the world, while seeking to provide lower volatility. The Class aims to achieve this objective by investing primarily in other mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achieve-ment of the investment objective of the Class. The Under-lying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Global and International Equity

Type of securities Mutual fund Shares

Date started Series A – July 13, 2015 Series B – July 13, 2015 Series Jdsc – July 13, 2015 Series Jnl – July 13, 2015 Series U – July 13, 2015

Eligible for registered plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Irish Life Investment Managers Limited (Dublin, Ireland)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors Low Volatility Global Equity Class

103Investors Low Volatility Global Equity Class

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility, based on its anticipated volatility. For more information about this classification please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $86 $151 $344

Series B $28 $89 $156 $355

Series Jdsc $25 $79 $139 $316

Series Jnl $26 $83 $146 $331

Series U $14 $44 $76 $174

You can find more information about expenses under Fees and expenses.

104

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors North American Equity Class

At the date of this Simplified Prospectus, Investors North American Equity Fund (the “Fund”) is an Underlying Fund of the Class. The Fund aims to provide long-term capital growth consistent with preservation of capital by investing primarily in North American markets. To achieve the Fund’s investment objective, the Fund selects primarily common shares of companies diversified by industry and geography based on:

• an analysis of the company’s finances;• economic forecasts for the company and industry in which

it operates; and• an assessment of whether the company has better-than-

average growth prospects.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Fund 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 Rules.

The Class may also engage in Securities Lending, Repur-chase and Reverse Repurchase Transactions and use Deriv-atives. To the extent the Class invests directly in equity securities, it intends to follow the same investment strat-egies as the Fund.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth primarily through exposure to the common shares of North American corporations. The Class aims to achieve this exposure by investing primarily in other Investors Group mutual fund(s) and/or directly in equity securities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest up to 100% of its net assets in one or more Investors Group Funds to facilitate the achievement of the investment objective of the Class. The Underlying Fund(s) of the Class may be changed from time to time without prior notice to Shareholders as long as investment in the Underlying Fund(s) facilitates achieving the Class’ investment objective.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.85% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors North American Equity Class

105Investors North American Equity Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $83 $146 $331

Series B $27 $85 $150 $340

Series Jdsc $23 $74 $129 $294

Series Jnl $24 $76 $134 $304

Series U $12 $38 $66 $151

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 100% of its net assets in the Fund during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

106

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Pacific International Class

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily the Asia/Pacific markets.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a high level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of corporations in Asian and Pacific countries, excluding Japan.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class invests in companies based on the company’s past and prospective earnings, the company’s management and the company’s financial quality and valuation.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

Sub-advisor I.G. Investment Management (Hong Kong) Limited (Hong Kong)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors Pacific International Class

107Investors Pacific International Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $88 $155 $352

Series B $29 $91 $160 $365

Series Jdsc $25 $79 $139 $316

Series Jnl $26 $83 $146 $331

Series U $14 $43 $75 $170

You can find more information about expenses under Fees and expenses.

108

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Pan Asian Equity Class

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments primarily to the Asia/Pacific markets.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in common shares of companies located throughout Asia, including Japan.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest primarily in the common shares of companies in Asia, including Japan, following a top-down sector selection and a bottom-up stock selection management style.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. International Management Limited (Dublin, Ireland)

Sub-advisor I.G. Investment Management (Hong Kong) Limited (Hong Kong)

GLOBAL & INTERNATIONAL EQUITY CLASSES

Investors Pan Asian Equity Class

109Investors Pan Asian Equity Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $88 $154 $351

Series B $29 $91 $160 $365

Series Jdsc $25 $79 $138 $315

Series Jnl $26 $82 $144 $327

Series U $14 $43 $75 $170

You can find more information about expenses under Fees and expenses.

110

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG AGF Global Equity Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in equity securities of corporations outside of Canada.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class uses a proprietary quantitative model to assist in determining which countries to invest in and the amount to allocate to each country. It then uses a bottom-up conservative growth investment style to uncover stocks that are reasonably priced relative to their growth potential. The Class may invest up to 25% of its assets in companies in emerging markets.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee Until October 31, 2016 2.15% (Series A and B Shares)

1.90% (Series Jdsc and Jnl Shares) 1.15% (Series U Shares)

Effective November 1, 2016 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor AGF Investments Inc. (Toronto, Ontario)

GLOBAL & INTERNATIONAL EQUITY CLASSES

IG AGF Global Equity Class

111IG AGF Global Equity Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $30 $95 $167 $380

Series B $31 $99 $173 $393

Series Jdsc $27 $86 $151 $344

Series Jnl $28 $89 $156 $356

Series U $16 $51 $89 $204

The expenses shown in the table do not reflect any fee reductions effective November 1, 2016.

You can find more information about expenses under Fees and expenses.

112

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Mackenzie Cundill Global Value Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 10.32% of its net assets in equity securities of American International Group Inc., and up to 11.31% and 11.10% of its net assets in short-term notes of Canadian Imperial Bank of Commerce and Royal Bank of Canada, respectively, during the 12-month period ended May 31, 2016.

l CREDIT RISK

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

What does the Class invest in?Investment objectiveThe Class pursues long-term capital growth from invest-ments primarily in global equity securities in markets around the world. The Class may also invest the majority of its assets in the securities of a single country or a single industry depending on prevailing market conditions.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class invests primarily in equities, but may invest in all types of securities such as a range of fixed income securities including high yield bonds.

The investment approach is based on a fundamental value philosophy: invest in securities which are trading below their estimated intrinsic value, determined by reviewing corporate financial statements and other records, business prospects, management strengths and identifying potential catalysts to realize securityholder value. Preservation of invested capital is a hallmark of the contrarian, value-based approach.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – July 20, 2007 Series B – July 20, 2007 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisors Mackenzie Financial Corporation (Toronto, Ontario)

GLOBAL & INTERNATIONAL EQUITY CLASSES

IG Mackenzie Cundill Global Value Class

113IG Mackenzie Cundill Global Value Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For more information on how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $88 $154 $351

Series B $29 $90 $158 $360

Series Jdsc $25 $79 $139 $317

Series Jnl $26 $82 $144 $327

Series U $14 $43 $75 $170

You can find more information about expenses under Fees and expenses.

114

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Mackenzie Emerging Markets Class

The Class may invest in emerging markets through other investment companies or investment funds where to do so is necessary or in the best interest of the Class. There are no restrictions on the amount of the Class’ assets that may be invested in any single country or region and, at times, the Class’ portfolio may be substantially invested in relatively few emerging markets.

The Class may invest in higher yielding bonds as equity alternatives (typically with a credit rating no lower than “C”).

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

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

l CREDIT RISK

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK – because Shares representing 14.58% of Class assets were held by other Investors Group Funds on May 31, 2016.

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments primarily to emerging markets.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of corporations in emerging markets throughout the world.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class empha-sizes investments in companies operating in emerging markets throughout the world. “Emerging Markets” are those countries that have lower per capita income in relation to more developed countries, such as Canada.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee Until October 31, 2016 2.20% (Series A and B Shares)

1.95% (Series Jdsc and Jnl Shares) 1.20% (Series U Shares)

Effective November 1, 2016 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Mackenzie Financial Corporation (Toronto, Ontario)

GLOBAL & INTERNATIONAL EQUITY CLASSES

IG Mackenzie Emerging Markets Class

115IG Mackenzie Emerging Markets Class

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a high level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $31 $97 $170 $387

Series B $32 $100 $174 $397

Series Jdsc $28 $88 $155 $352

Series Jnl $29 $92 $161 $366

Series U $16 $51 $89 $204

The expenses shown in the table do not reflect any fee reductions effective November 1, 2016.

You can find more information about expenses under Fees and expenses.

116

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Mackenzie Ivy European Class

• the Class’ management team will invest primarily in established European markets but may invest in emerging European markets;

• once an investment is made, the Class expects to be a patient, long-term investor, which generally results in low portfolio turnover, reduced transaction expenses and deferred realization of capital gains; and

• portfolio investments generally will be limited to securities of not more than 35 companies.

The Class may also invest a portion of its assets in fixed income securities.

The Class has obtained regulatory approval to invest up to 35% of its net assets in short-term debt securities (having generally a term to maturity of less than 365 days) issued or guaranteed by foreign governments with an “AAA” or higher credit rating, and up to 20% of its net assets in debt securities issued or guaranteed by foreign governments with an “AA” or higher credit rating, provided that the total sovereign debt held by the Class in any such foreign country does not exceed these limits. The Class may also invest up to 100% of its assets in debt securities issued or guaranteed by the governments of Canada or the United States.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth, consistent with protection of capital, by investing primarily in the common shares of European corporations.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective:

• the Class’ management team follows a blended value and growth investment style. While the team’s focus is on companies that appear likely to have superior and rela-tively consistent longer-term growth prospects, strong consideration is placed on assessing the investment’s true worth relative to its stock price. The disciplined review process includes analysis of the company’s competitive position, management strengths, expected profitability and financial position;

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.95% (Series A and B Shares) 1.70% (Series Jdsc and Jnl Shares) 0.95% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Mackenzie Financial Corporation (Toronto, Ontario)

GLOBAL & INTERNATIONAL EQUITY CLASSES

IG Mackenzie Ivy European Class

117IG Mackenzie Ivy European Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $88 $155 $352

Series B $29 $92 $161 $366

Series Jdsc $25 $79 $139 $317

Series Jnl $26 $83 $146 $331

Series U $14 $43 $75 $170

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 13.85% of its net assets in short-term notes of the Canadian Imperial Bank of Commerce during the 12-month period ended May 31, 2016.

l CREDIT RISK

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

118

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Mackenzie Ivy Foreign Equity Class

• the Class’ investments are not limited geographically, but generally do not include investments in emerging markets. Securities of U.S. companies will usually form the largest percentage of assets from any geographic region within the Class’ portfolio;

• once an investment is made, the Class expects to be a patient, long-term investor, which generally results in low portfolio turnover, reduced transaction expenses and deferred realization of capital gains; and

• portfolio investments generally will be limited to securities of not more than 40 companies.

The Class may also invest a portion of its assets in fixed income securities.

The Class has obtained regulatory approval to invest up to 35% of its net assets in short-term debt securities (having generally a term to maturity of less than 365 days) issued or guaranteed by foreign governments with an “AAA” or higher credit rating, and up to 20% of its net assets in debt securities issued or guaranteed by foreign governments with an “AA” or higher credit rating, provided that the total sovereign debt held by the Class in any such foreign country does not exceed these limits. The Class may also invest up to 100% of its assets in debt securities issued or guaranteed by the governments of Canada or the United States.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth, consistent with protection of capital, by investing primarily in the common shares of corporations anywhere in the world.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective:

• the Class’ management team follows a blended value and growth investment style. While the team’s focus is on companies that appear likely to have superior and rela-tively consistent longer-term growth prospects, strong consideration is placed on assessing the investment’s true worth relative to its stock price. The disciplined review process includes analysis of the company’s competitive position, management strengths, expected profitability and financial position;

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Mackenzie Financial Corporation (Toronto, Ontario)

GLOBAL & INTERNATIONAL EQUITY CLASSES

IG Mackenzie Ivy Foreign Equity Class

119IG Mackenzie Ivy Foreign Equity Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $90 $157 $358

Series B $30 $93 $163 $371

Series Jdsc $26 $81 $142 $322

Series Jnl $27 $84 $148 $336

Series U $14 $45 $79 $179

You can find more information about expenses under Fees and expenses.

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

l CREDIT RISK

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK – because Shares representing 27.19% of Class assets were held by other Investors Group Funds, including 21.57% held by Allegro Moderate Portfolio, on May 31, 2016.

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

120

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Templeton International Equity Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the equity investments of corporations outside Canada and the U.S.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class uses a bottom-up approach, selecting investments for long-term value. Using this approach, the Class:

• looks for undervalued investments with strong growth potential; and

• holds the investments until they reach their fair value, which is typically in the range of five years.

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Franklin Templeton Investments Corp. (Toronto, Ontario)

GLOBAL & INTERNATIONAL EQUITY CLASSES

IG Templeton International Equity Class

121IG Templeton International Equity Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $90 $157 $358

Series B $30 $94 $164 $374

Series Jdsc $26 $81 $142 $322

Series Jnl $27 $84 $148 $336

Series U $14 $45 $79 $179

You can find more information about expenses under Fees and expenses.

122

123

Global Sector ClassesInvestors Global Consumer Companies Class

Investors Global Financial Services Class

Investors Global Health Care Class

Investors Global Infrastructure Class

Investors Global Natural Resources Class

Investors Global Science & Technology Class

IG Mackenzie Global Precious Metals Class

124

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Global Consumer Companies Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class invests primarily in the consumer companies sectors.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. The asset category for this Class is not classified under the volatility classification guidelines recommended by the Investment Funds Institute of Canada, but we have classified the Class as having a medium level of volatility, using the methodology followed by these guide-lines based on the Class’ historical performance and its sector concentration. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of a

diversified investment portfolio.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing in the common shares of global companies in the consumer staples and discretionary goods industries.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class intends to primarily focus its investments in consumer staples and discretionary industries such as automobiles and auto-motive components, consumer durables and apparel, hotels, restaurants and leisure, media, retailing, food and drug retailing, food, beverage and tobacco and household and personal products. The Class will focus on large Capital-ization corporations; however, it will also make investments in medium and small Capitalization corporations.

Class detailsType of class Global Sector

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisors I.G. Investment Management, Ltd. I.G. International Management Limited (Dublin, Ireland)

GLOBAL SECTOR CLASSES

Investors Global Consumer Companies Class

125Investors Global Consumer Companies Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $90 $157 $357

Series B $29 $92 $162 $369

Series Jdsc $26 $81 $142 $322

Series Jnl $27 $84 $147 $334

Series U $14 $44 $77 $175

You can find more information about expenses under Fees and expenses.

126

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Global Financial Services Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class invests primarily in the financial services sector.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium to high level of volatility. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in large Capitalization global financial services providers and the companies that provide tech-nology and support services to these companies.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to primarily focus its investments in industries such as banking, insurance, asset management and stock broker-ages throughout the world. There is expected to be a “best of class” sector approach taken with emphasis on large Capitalization corporations.

The Class may also invest a portion of its assets in medium and small Capitalization financial services corporations and/or support services corporations engaged in providing financial services electronically via the internet and/or proprietary online access.

Class detailsType of class Global Sector

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisors I.G. Investment Management, Ltd. I.G. International Management Limited (Dublin, Ireland)

Sub-advisor I.G. Investment Management (Hong Kong) Limited (Hong Kong)

GLOBAL SECTOR CLASSES

Investors Global Financial Services Class

127Investors Global Financial Services Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $90 $157 $357

Series B $29 $91 $160 $365

Series Jdsc $26 $81 $142 $322

Series Jnl $27 $84 $148 $336

Series U $14 $44 $78 $177

You can find more information about expenses under Fees and expenses.

128

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Global Health Care Class

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 10.06% of its net assets in equity securities of Johnson & Johnson during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class invests primarily in the health care sector.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. The asset category for this Class is not classified under the volatility classification guidelines recommended by the Investment Funds Institute of Canada, but we have classified the Class as having a medium to high level of volatility, using the methodology followed by these guidelines based on the Class’ historical performance and its sector concentration. For more information about this clas-sification, please see Risk classification methodology under Specific information about each of the Classes.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing in the common shares of global corporations engaged in the development, production or distribution of products and services related to the treatment or prevention of medical diseases or other medical-related problems.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class will:

• invest in various health care sub-sectors including phar-maceuticals, medical equipment and supplies, health care services and biotechnology;

• employ a stock selection process driven by a combined approach to fundamental scientific and quantitative analysis;

• invest in corporations that have strong management teams, are well-established and have favourable earnings outlooks; and

• allocate a portion of the Class to more innovative corpora-tions with faster growth profiles.

Class detailsType of class Global Sector

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

GLOBAL SECTOR CLASSES

Investors Global Health Care Class

129Investors Global Health Care Class

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $90 $157 $358

Series B $29 $92 $161 $367

Series Jdsc $26 $81 $142 $322

Series Jnl $27 $84 $147 $334

Series U $14 $44 $77 $175

You can find more information about expenses under Fees and expenses.

130

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Global Infrastructure Class

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

What are the risks of investing in the Class?The risks that apply to this Class 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 SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class invests primarily in the infrastructure product and services sectors.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of a

diversified investment portfolio.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing in the common shares of global corporations which are primarily engaged in providing products and services which contribute to developing the infrastructure of countries located around the world.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective the Class intends to primarily focus its investments in industries such as capital goods, commercial services and supplies, transportation, telecommunication services and utilities. The Class will focus on large Capitalization corporations; however, it will also make investments in medium and small Capitalization corporations.

Class detailsType of class Global Sector

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisors I.G. Investment Management, Ltd. I.G. International Management Limited (Dublin, Ireland)

Sub-advisor I.G. Investment Management (Hong Kong) Limited (Hong Kong)

GLOBAL SECTOR CLASSES

Investors Global Infrastructure Class

131Investors Global Infrastructure Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $29 $90 $158 $360

Series B $30 $93 $163 $371

Series Jdsc $26 $81 $142 $322

Series Jnl $27 $84 $147 $335

Series U $14 $44 $78 $177

You can find more information about expenses under Fees and expenses.

132

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Global Natural Resources Class

• ensures adequate geographic and industry diversifica-tion and typically makes investments within the context of a long-term horizon. Investments are continuously monitored for changes in company fundamentals.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 10.17% of its net assets in equity securities of Exxon Mobil Corp. during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class invests primarily in the natural resources sectors.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a high level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the common shares of corporations around the world involved in natural resource industries or who provide goods and services to these industries.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class:

• invests primarily in the global energy and materials indus-tries which include the following sub-sectors:• energy equipment and services,• oil and gas,• chemicals,• construction materials,• metals and mining, and• paper and forest products;

• adheres to a disciplined research approach driven by fundamental analysis, integrating both quantitative and qualitative investment perspectives; and

Class detailsType of class Global Sector

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisors I.G. Investment Management, Ltd. I.G. International Management Limited (Dublin, Ireland)

GLOBAL SECTOR CLASSES

Investors Global Natural Resources Class

133Investors Global Natural Resources Class

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $89 $155 $353

Series B $29 $91 $160 $364

Series Jdsc $25 $80 $140 $318

Series Jnl $26 $83 $145 $330

Series U $14 $44 $76 $174

You can find more information about expenses under Fees and expenses.

134

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

Investors Global Science & Technology Class

The Class employs a growth-oriented approach which:

• compares the company’s share price to its earnings and its cash flow;

• looks at the corporation’s management team;• evaluates the corporation’s growth potential; and• considers whether the corporation operates in large, high

growth markets.

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules.

Equity management style

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

l CONCENTRATION RISK – because the Class invested up to 16.42% and 11.97% of its net assets in equity securities of Apple Inc. and Microsoft Corp., respectively, during the 12-month period ended May 31, 2016.

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class limits its investments to primarily the technology sector.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in the shares of corporations around the world that develop or use science and/or technology.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve the Class’ investment objective, the Class invests in science and/or technology corporations that are involved in sectors such as:

• internet software and services,• communication equipment,• computers and peripherals,• electronic equipment and instruments, and• semiconductors and semiconductor equipment.

Class detailsType of class Global Sector

Type of securities Mutual Fund Shares

Date started Series A – October 24, 2002 Series B – October 24, 2002 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd. I.G. International Management Limited (Dublin, Ireland)

Sub-advisor I.G. Investment Management (Hong Kong) Limited (Hong Kong)

GLOBAL SECTOR CLASSES

Investors Global Science & Technology Class

135Investors Global Science & Technology Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $90 $157 $358

Series B $29 $93 $163 $370

Series Jdsc $26 $80 $141 $321

Series Jnl $26 $83 $146 $333

Series U $14 $45 $78 $178

You can find more information about expenses under Fees and expenses.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. The asset category for this Class is not classified under the volatility classification guidelines recommended by the Investment Funds Institute of Canada, but we have classified the Class as having a high level of volatility, using the methodology followed by these guide-lines based on the Class’ historical performance. For more information about this classification, please see Risk clas-sification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

136

Large cap companies

Value Blend Growth

Medium cap companies

Small cap companies

IG Mackenzie Global Precious Metals Class

The Class has obtained regulatory approval to invest up to 50% of its net assets in gold, silver, platinum, palladium and rhodium, and certificates relating to such precious metals, and may purchase or sell commodities that are such precious metals, provided that:

• the certificates representing gold, silver, platinum, palladium and rhodium are issued by an issuer approved by the Canadian securities authorities (for the purposes of the exemption, any bank listed in Schedule I, II or III of the Bank Act (Canada) is an approved issuer of certificates); and

• the Class will not purchase any certificates of an issuer if, after giving effect thereto, more than 10% of the net assets of the Class, taken at market value at the time of such purchase, would be invested in securities and certificates of such issuer.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

The Class 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 Class’ other investment strategies in a manner considered most appropriate to achieving the Class’ overall investment objectives and enhancing the Class’ returns as permitted by the Rules. Please see Relief from National Instrument 81-102 in the Annual Information Form for further details.

Equity management style

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital growth by investing primarily in equity securities of companies from around the world involved in the precious metals industry. The Class may also invest directly or indirectly in precious metals.

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

Investment strategiesTo achieve the Class’ investment objective, the Class seeks to invest primarily in equity securities of companies engaged in the exploration, development and production of precious metals and companies which provide goods and services to the precious metals industry. The Class may also invest in other related securities such as precious metals purchase warrants and fixed income securities convertible into precious metals securities. The Class may invest more than 10% of its total assets directly or indirectly in precious metals. The Class attempts to minimize risk through country, sector and individual security diversification.

Class detailsType of fund Global Sector

Type of securities Mutual Fund Shares

Date started Series A – July 28, 2008 Series B – July 28, 2008 Series Jdsc – July 13, 2012 Series Jnl – July 13, 2012 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 2.00% (Series A and B Shares) 1.75% (Series Jdsc and Jnl Shares) 1.00% (Series U Shares)

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Administration fee 0.23%

Portfolio Advisor I.G. Investment Management, Ltd.

Sub-advisor Mackenzie Financial Corporation (Toronto, Ontario)

GLOBAL SECTOR CLASSES

IG Mackenzie Global Precious Metals Class

137IG Mackenzie Global Precious Metals Class

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $89 $156 $356

Series B $29 $92 $161 $366

Series Jdsc $26 $80 $141 $321

Series Jnl $27 $84 $148 $336

Series U $14 $44 $78 $177

You can find more information about expenses under Fees and expenses.

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

l CONCENTRATION RISK – because the Class invested up to 12.43% of its net assets in equity securities of Detour Gold Corp., during the 12-month period ended May 31, 2016.

l CREDIT RISK

l DERIVATIVES RISK

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK

l SPECIALIZATION RISK – because the Class invests primarily in the precious metals sector and in precious metals directly which exposes the Class to the risks associated with investment in commodities.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a high level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you intend that this investment be one component of

a diversified investment portfolio and you are comfort-able with the potential for a high level of volatility for this investment.

138

139

Allegro Corporate Class Portfolios™

Allegro Income Balanced Portfolio Class

Allegro Balanced Portfolio Class

Allegro Balanced Growth Portfolio Class

Allegro Balanced Growth Canada Focus Portfolio Class

Allegro Growth Portfolio Class

Allegro Growth Canada Focus Portfolio Class

140

ALLEGRO CORPORATE CLASS PORTFOLIOS™

Allegro Income Balanced Portfolio Class

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – January 19, 2015 Series B – January 19, 2015 Series Tdsc – January 19, 2015 Series Tnl – January 19, 2015 Series Jdsc – January 19, 2015 Series Jnl – January 19, 2015 Series TJdsc – January 19, 2015 Series TJnl – January 19, 2015 Series U – January 19, 2015 Series Tu – January 19, 2015

Eligible for Registered Plans Yes*

Management fee 1.75% (Series A, B, Tdsc and Tnl Shares) 1.50% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.636% (Series U and Tu Shares)

Service fee 0.195% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.260% (Series B, Tnl, Jnl and TJnl Shares)

Administration fee 0.21%

Portfolio Advisor I.G. Investment Management, Ltd.

* The Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide fixed income diversification and long-term capital appreciation by investing primarily in Underlying Funds that provide equity and/or fixed income exposure.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class invests in Underlying Funds managed by the Manager, with a target investment mix as described below:

Underlying fund type Target Mix

Fixed Income 35%Equity 55%Investors Real Property Fund 10%

100%

The Portfolio Advisor may, in its sole discretion, review and adjust the exposure to fixed income and equity underlying fund types by up to 15% from the target mix. For example, the Class may invest anywhere between 20% and 50% of its assets in fixed income Underlying Funds.

The Class has received regulatory approval to invest up to 10% of its net assets in Investors Real Property Fund. Currently, it is the Portfolio Advisor’s intention to maintain an investment in Investors Real Property Fund equal to approximately 10% of the assets of the Class subject to a variation of up to 2.5% to account for market fluctuations.

Subject to the regulatory restrictions on the maximum investment in Investors Real Property Fund, the Portfolio Advisor may invest more than 10% of its net assets in one or more Underlying Funds or change the percentage holdings of any Underlying Fund, remove any Underlying Fund or add any Underlying Fund. The Portfolio Advisors of the Under-lying Funds manage the assets invested by the Class, and investments are made in accordance with the objectives of the Underlying Funds.

The Class may also hold a portion of its assets in cash, money market securities or money market mutual funds.

Allegro Income Balanced Portfolio Class

141

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Special-ization risk for example. The risks that are expected to apply directly to the Class through its investment in its Underlying Funds include:

l CONCENTRATION RISK – because the Class invested over 10% of its net assets in other Investors Group Funds, up to the percentages shown below, during the 12-month period ended May 31, 2016:10.19% in IG AGF Global Equity Fund;10.14% in Investors Canadian Corporate Bond Fund;10.14% in Investors Core Canadian Equity Fund;10.17% in Investors Canadian Equity Income Fund;15.16% in Investors Mortgage and Short Term Income Fund;10.13% in IG Mackenzie Income Fund;10.11% in IG Putnam Low Volatility U.S. Equity Fund; and10.34% in Investors Real Property Fund.

l CREDIT RISK

l DERIVATIVES RISK AND SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to use Derivatives or these transactions, but may be exposed to these risks through its investment in Underlying Funds.

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

l REAL PROPERTY INVESTMENT RISK – because of the Class’ investment in Investors Real Property Fund.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility based on its anticipated volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

You should consider investing in the Class if you are comfort-able with the risks for this investment and:

• your long-term investment goal is capital growth with exposure to fixed income investments; and

• you are looking for a diversified portfolio in a single investment.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

Return of capital distributions for the Fixed Distribution Series will be paid near the end of each month. The level of monthly return of capital distributions may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Please ask your Investors Group Consultant for the current level of monthly return of capital distributions paid by the Fixed Distribution Series. Return of capital distributions are auto-matically paid out to you in cash; however, you may ask that these distributions be reinvested.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

Allegro Income Balanced Portfolio Class

142

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $80 $141 $321

Series B $26 $82 $144 $329

Series Jdsc $23 $72 $126 $286

Series Jnl $23 $74 $129 $294

Series Tdsc $26 $82 $144 $327

Series Tnl $27 $84 $147 $334

Series TJdsc $23 $73 $129 $293

Series TJnl $23 $74 $130 $295

Series U $11 $34 $60 $137

Series Tu $11 $34 $60 $137

You can find more information about expenses under Fees and expenses.

Allegro Income Balanced Portfolio Class

143Allegro Balanced Portfolio Class

ALLEGRO CORPORATE CLASS PORTFOLIOS™

Allegro Balanced Portfolio Class

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2009 Series B – July 13, 2009 Series Tdsc – July 13, 2009 Series Tnl – July 13, 2009 Series Jdsc – July 12, 2013 Series Jnl – July 12, 2013 Series TJdsc – July 12, 2013 Series TJnl – July 12, 2013 Series U – July 12, 2013 Series Tu – July 12, 2013

Eligible for Registered Plans Yes*

Management fee 1.80% (Series A, B, Tdsc and Tnl Shares) 1.55% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.709% (Series U and Tu Shares)

Administration fee 0.22%

Service fee 0.21% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.285% (Series B, Tnl, Jnl and TJnl Shares)

Portfolio Advisor I.G. Investment Management, Ltd.

* This Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide a balance of long-term capital appreciation and fixed income diversification by investing primarily in Underlying Funds that provide equity and/or fixed income exposure.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class uses a strategic asset allocation strategy and invests in Underlying Funds managed by the Manager. The Class’ target investment mix is:

Underlying fund type Target Mix

Fixed Income 30%Equity 60%Investors Real Property Fund 10%

100%

The Portfolio Advisor may, in its sole discretion, review and adjust the exposure to fixed income and equity underlying fund types by up to 5% from the target mix. For example, the Class may invest anywhere between 25% and 35% of its assets in fixed income type Underlying Funds.

The Class has received regulatory approval to invest up to 10% of its net assets in Investors Real Property Fund. Currently, it is the Portfolio Advisor’s intention to maintain an investment in Investors Real Property Fund equal to approximately 10% of the assets of the Class subject to a variation of up to 2.5% to account for market fluctuations.

Subject to the regulatory restrictions on the maximum investment in Investors Real Property Fund, the Class may invest more than 10% of its net assets in one or more Under-lying Funds. The Portfolio Advisor may also change the percentage holdings of any Underlying Fund, remove any Underlying Fund or add any Underlying Fund. The Portfolio Advisors of the Underlying Funds manage the assets invested by the Class, and investments are made in accord-ance with the objectives of the Underlying Funds.

The Class may also hold a portion of its assets in cash, money market securities or money market mutual funds.

144

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Special-ization risk for example. The risks that are expected to apply directly to the Class through its investment in its Underlying Funds include:

l CONCENTRATION RISK – because the Class invested over 10% of its net assets in other Investors Group Funds, up to the percentages shown below, during the 12-month period ended May 31, 2016:13.13% in IG FI Canadian Equity Fund;10.07% in Investors Canadian Large Cap Value Fund;10.12% in Investors International Equity Fund;10.05% in IG Mackenzie Dividend Growth Fund;20.19% in Investors Mortgage and Short Term Income Fund;10.13% in IG Mackenzie Income Fund;10.41% in Investors Real Property Fund; and12.18% in Investors U.S. Large Cap Value Fund.

l CREDIT RISK

l DERIVATIVES RISK AND SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to use Derivatives or these transactions, but may be exposed to these risks through its investment in Underlying Funds.

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

l REAL PROPERTY INVESTMENT RISK – because of the Class’ investment in Investors Real Property Fund.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you are looking for a diversified portfolio in a

single investment.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

Return of capital distributions for the Fixed Distribution Series will be paid near the end of each month. The level of monthly return of capital distributions may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Please ask your Investors Group Consultant for the current level of monthly return of capital distributions paid by the Fixed Distribution Series. Return of capital distributions are auto-matically paid out to you in cash; however, you may ask that these distributions be reinvested.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

Allegro Balanced Portfolio Class

145Allegro Balanced Portfolio Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $83 $145 $330

Series B $27 $85 $149 $339

Series Jdsc $23 $74 $129 $294

Series Jnl $24 $76 $133 $303

Series Tdsc $26 $83 $146 $331

Series Tnl $27 $86 $150 $342

Series TJdsc $24 $74 $130 $297

Series TJnl $24 $76 $133 $302

Series U $12 $37 $65 $147

Series Tu $12 $37 $66 $150

You can find more information about expenses under Fees and expenses.

146

ALLEGRO CORPORATE CLASS PORTFOLIOS™

Allegro Balanced Growth Portfolio Class

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2009 Series B – July 13, 2009 Series Tdsc – July 13, 2009 Series Tnl – July 13, 2009 Series Jdsc – July 12, 2013 Series Jnl – July 12, 2013 Series TJdsc – July 12, 2013 Series TJnl – July 12, 2013 Series U – July 12, 2013 Series Tu – July 12, 2013

Eligible for Registered Plans Yes*

Management fee 1.85% (Series A, B, Tdsc and Tnl Shares) 1.60% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.832% (Series U and Tu Shares)

Administration fee 0.24%

Service fee 0.27% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.365% (Series B, Tnl, Jnl and TJnl Shares)

Portfolio Advisor I.G. Investment Management, Ltd.

* This Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital appreciation by investing primarily in Underlying Funds that invest in equity markets. The Class also invests in Underlying Funds that provide fixed income exposure.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class uses a strategic asset allocation strategy and invests in Underlying Funds managed by the Manager. The Class’ target investment mix is:

Underlying fund type Target Mix

Fixed Income 10%Equity 80%Investors Real Property Fund 10%

100%

The Portfolio Advisor may, in its sole discretion, review and adjust the exposure to fixed income and equity underlying fund types by up to 5% from the target mix. For example, the Class may invest anywhere between 5% and 15% of its assets in fixed income type Underlying Funds.

The Class has received regulatory approval to invest up to 10% of its net assets in Investors Real Property Fund. Currently, it is the Portfolio Advisor’s intention to maintain an investment in Investors Real Property Fund equal to approximately 10% of the assets of the Class subject to a variation of up to 2.5% to account for market fluctuations.

Subject to the regulatory restrictions on the maximum investment in Investors Real Property Fund, the Class may invest more than 10% of its net assets in one or more Under-lying Funds. The Portfolio Advisor may also change the percentage holdings of any Underlying Fund, remove any Underlying Fund or add any Underlying Fund. The Portfolio Advisors of the Underlying Funds manage the assets invested in the Class, and investments are made in accord-ance with the objectives of the Underlying Funds.

The Class may also hold a portion of its assets in cash, money market securities or money market mutual funds.

Allegro Balanced Growth Portfolio Class

147

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Special-ization risk for example. The risks that are expected to apply directly to this Class through its investment in its Underlying Funds include:

l CONCENTRATION RISK – because the Class invested over 10% of its net assets in other Investors Group Funds, up to the percentages shown below, during the 12-month period ended May 31, 2016:10.03% in IG Mackenzie Canadian Equity Growth Fund;20.17% in Investors Canadian Large Cap Value Fund;10.14% in Investors Mortgage and Short Term Income Fund;10.57% in Investors Real Property Fund; and16.09% in Investors U.S. Large Cap Value Fund.

l CREDIT RISK

l DERIVATIVES RISK AND SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to use Derivatives or these transactions, but may be exposed to these risks through its investment in Underlying Funds.

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

l REAL PROPERTY INVESTMENT RISK – because of the Class’ investment in Investors Real Property Fund.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you are looking for a diversified portfolio in a

single investment.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

Return of capital distributions for the Fixed Distribution Series will be paid near the end of each month. The level of monthly return of capital distributions may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Portfolio. Please ask your Investors Group Consultant for the current level of monthly return of capital distributions paid by the Fixed Distribution Series. Return of capital distributions are automatically paid out to you in cash; however, you may ask that these distributions be reinvested.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

Allegro Balanced Growth Portfolio Class

148

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $87 $152 $347

Series B $28 $90 $157 $358

Series Jdsc $25 $78 $136 $309

Series Jnl $26 $80 $141 $321

Series Tdsc $28 $87 $153 $348

Series Tnl $28 $90 $157 $358

Series TJdsc $25 $79 $139 $316

Series TJnl $26 $81 $143 $325

Series U $13 $42 $73 $166

Series Tu $13 $42 $73 $166

You can find more information about expenses under Fees and expenses.

Allegro Balanced Growth Portfolio Class

149Allegro Balanced Growth Canada Focus Portfolio Class

ALLEGRO CORPORATE CLASS PORTFOLIOS™

Allegro Balanced Growth Canada Focus Portfolio Class

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2009 Series B – July 13, 2009 Series Tdsc – July 13, 2009 Series Tnl – July 13, 2009 Series Jdsc – July 12, 2013 Series Jnl – July 12, 2013 Series TJdsc – July 12, 2013 Series TJnl – July 12, 2013 Series U – July 12, 2013 Series Tu – July 12, 2013

Eligible for Registered Plans Yes*

Management fee 1.85% (Series A, B, Tdsc and Tnl Shares) 1.60% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.832% (Series U and Tu Shares)

Administration fee 0.23%

Service fee 0.27% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.365% (Series B, Tnl, Jnl and TJnl Shares)

Portfolio Advisor I.G. Investment Management, Ltd.

* This Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital appreciation by investing primarily in Underlying Funds that invest in equity markets, with an emphasis on Canadian equities. The Class also invests in Underlying Funds that provide fixed income exposure.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class uses a strategic asset allocation strategy and invests in Underlying Funds managed by the Manager. The Class’ target investment mix is:

Underlying fund type Target Mix

Fixed Income 10%Equity 80%Investors Real Property Fund 10%

100%

The Portfolio Advisor may, in its sole discretion, review and adjust the exposure to fixed income and equity underlying fund types by up to 5% from the target mix. For example, the Class may invest anywhere between 5% and 15% of its assets in fixed income type Underlying Funds.

The Class has received regulatory approval to invest up to 10% of its net assets in Investors Real Property Fund. Currently, it is the Portfolio Advisor’s intention to maintain an investment in Investors Real Property Fund equal to approximately 10% of the assets of the Class subject to a variation of up to 2.5% to account for market fluctuations.

Subject to the regulatory restrictions on the maximum investment in Investors Real Property Fund, the Class may invest more than 10% of its net assets in one or more Under-lying Funds. The Portfolio Advisor may also change the percentage holdings of any Underlying Fund, remove any Underlying Fund or add any Underlying Fund. The Portfolio Advisors of the Underlying Funds manage the assets invested in the Class, and investments are made in accord-ance with the objectives of the Underlying Funds.

The Class may also hold a portion of its assets in cash, money market securities or money market mutual funds.

150

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Special-ization risk for example. The risks that are expected to apply directly to this Class through its investment in its Underlying Funds include:

l CONCENTRATION RISK – because the Class invested over 10% of its net assets in other Investors Group Funds, up to the percentages shown below, during the 12-month period ended May 31, 2016:20.34% in Investors Canadian Large Cap Value Fund;10.16% in IG FI Canadian Equity Fund;10.15% in Investors Mortgage and Short Term Income Fund;10.54% in Investors Real Property Fund;13.22% in Investors U.S. Large Cap Value Fund;12.17% in IG Mackenzie Canadian Equity Growth Fund; and10.17% in IG Mackenzie Ivy European Fund.

l CREDIT RISK

l DERIVATIVES RISK AND SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to use Derivatives or these transactions, but may be exposed to these risks through its investment in Underlying Funds.

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

l REAL PROPERTY INVESTMENT RISK – because of the Class’ investment in Investors Real Property Fund.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility. For more information about this classification, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you are looking for a diversified portfolio in a

single investment.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please also see Automatic reinvestment of Dividends for more information.

Return of capital distributions for the Fixed Distribution Series will be paid near the end of each month. The level of monthly return of capital distributions may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Please ask your Investors Group Consultant for the current level of monthly return of capital distributions paid by the Fixed Distribution Series. Return of capital distributions are auto-matically paid out to you in cash; however, you may ask that these distributions be reinvested.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

Allegro Balanced Growth Canada Focus Portfolio Class

151Allegro Balanced Growth Canada Focus Portfolio Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $86 $151 $344

Series B $28 $90 $157 $357

Series Jdsc $24 $77 $135 $307

Series Jnl $26 $81 $143 $325

Series Tdsc $27 $86 $151 $343

Series Tnl $28 $90 $157 $358

Series TJdsc $25 $79 $138 $315

Series TJnl $26 $83 $145 $330

Series U $13 $41 $72 $165

Series Tu $13 $41 $71 $162

You can find more information about expenses under Fees and expenses.

152

ALLEGRO CORPORATE CLASS PORTFOLIOS™

Allegro Growth Portfolio Class

Class detailsType of class Global & International Equity

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2009 Series B – July 13, 2009 Series Jdsc – July 12, 2013 Series Jnl – July 12, 2013 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.850% (Series U Shares)

Administration fee 0.24%

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Portfolio Advisor I.G. Investment Management, Ltd.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital appreciation by investing primarily in Underlying Funds that invest in equity markets.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class uses a strategic asset allocation strategy and invests in Underlying Funds managed by the Manager. The Class’ target investment mix is:

Underlying fund type Target Mix

Canadian Equity 40%Foreign Equity 60%

100%

The Portfolio Advisor may, in its sole discretion, review and adjust the exposure to Canadian and foreign equity underlying fund types by up to 10% from the target mix. For example, the Class may invest anywhere between 30% and 50% of its assets in Canadian equity type Underlying Funds.

The Class may invest more than 10% of its net assets in one or more Underlying Funds. The Portfolio Advisor may also change the percentage holdings of any Underlying Fund, remove any Underlying Fund or add any Underlying Fund. The Portfolio Advisors of the Underlying Funds manage the assets invested in the Class, and investments are made in accordance with the objectives of the Underlying Funds.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Special-ization risk for example. The risks that are expected to apply directly to this Class through its investment in its Underlying Funds include:

l CONCENTRATION RISK – because the Class invested over 10% of its net assets in other Investors Group Funds, up to the percentages shown below, during the 12-month period ended May 31, 2016:13.03% in IG Mackenzie Canadian Equity Growth Fund;15.17% in Investors Canadian Large Cap Value Fund;10.12% in Investors Pan Asian Equity Fund;10.06% in Investors U.S. Opportunities Fund;20.12% in Investors U.S. Large Cap Value Fund; and10.16% in IG Mackenzie Ivy European Fund.

l CREDIT RISK

l DERIVATIVES RISK AND SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to use Derivatives or these transactions, but may be exposed to these risks through its investment in Underlying Funds.

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

Allegro Growth Portfolio Class

153

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you are looking for a diversified portfolio in a single

investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $88 $153 $349

Series B $29 $90 $158 $360

Series Jdsc $24 $77 $135 $308

Series Jnl $25 $80 $140 $320

Series U $13 $42 $73 $166

You can find more information about expenses under Fees and expenses.

Allegro Growth Portfolio Class

154

ALLEGRO CORPORATE CLASS PORTFOLIOS™

Allegro Growth Canada Focus Portfolio Class

Class detailsType of class Canadian Equity

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2009 Series B – July 13, 2009 Series Jdsc – July 12, 2013 Series Jnl – July 12, 2013 Series U – July 12, 2013

Eligible for Registered Plans Yes

Management fee 1.85% (Series A and B Shares) 1.60% (Series Jdsc and Jnl Shares) 0.850% (Series U Shares)

Administration fee 0.23%

Service fee 0.30% (Series A and Jdsc Shares) 0.40% (Series B and Jnl Shares)

Portfolio Advisor I.G. Investment Management, Ltd.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital appreciation by investing primarily in Underlying Funds that invest in equity markets, with an emphasis on Canadian equities.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesThe Class uses a strategic asset allocation strategy and invests in Underlying Funds managed by the Manager. The Class’ target investment mix is:

Underlying fund type Target Mix

Canadian Equity 70%Foreign Equity 30%

100%

The Portfolio Advisor may, in its sole discretion, review and adjust the exposure to Canadian and foreign equity underlying fund types by up to 10% from the target mix. For example, the Class may invest anywhere between 60% and 80% of its assets in Canadian equity type Underlying Funds.

The Class may invest more than 10% of its net assets in one or more Underlying Funds. The Portfolio Advisor may also change the percentage holdings of any Underlying Fund, remove any Underlying Fund or add any Underlying Fund. The Portfolio Advisors of the Underlying Funds manage the assets invested in the Class, and investments are made in accordance with the objectives of the Underlying Funds.

The Class’ Portfolio Turnover Rate may be expected to be more than 70%. (Please see Income tax considerations for Shareholders and What does the Class invest in? for more information about the Portfolio Turnover Rate.)

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Special-ization risk for example. The risks that are expected to apply directly to the Class through its investment in its Underlying Funds include:

l CONCENTRATION RISK – because the Class invested over 10% of its net assets in other Investors Group Funds, up to the percentages shown below, during the 12-month period ended May 31, 2016:10.09% in IG Franklin Bissett Canadian Equity Fund;14.05% in IG FI Canadian Equity Fund;20.06% in Investors Canadian Large Cap Value Fund;10.05% in Investors Canadian Small Cap Fund;13.08% in Investors U.S. Large Cap Value Fund; and14.99% in IG Mackenzie Canadian Equity Growth Fund.

l CREDIT RISK

l DERIVATIVES RISK AND SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to use Derivatives or these transactions, but may be exposed to these risks through its investment in Underlying Funds.

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

Allegro Growth Canada Focus Portfolio Class

155

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a medium level of volatility. For more information about this classi-fication, please see Risk classification methodology under Specific information about each of the Classes.

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

• your long-term investment goal is capital growth; and• you are looking for a diversified portfolio in a

single investment.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

For information about how Dividends can affect your taxes, see Income tax considerations for Shareholders.

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $28 $87 $152 $347

Series B $29 $91 $159 $362

Series Jdsc $24 $76 $134 $304

Series Jnl $26 $82 $144 $329

Series U $13 $40 $71 $161

You can find more information about expenses under Fees and expenses.

Allegro Growth Canada Focus Portfolio Class

156

157

Maestro Portfolio ClassesMaestro Income Balanced Portfolio Class

Maestro Balanced Portfolio Class

Maestro Growth Focused Portfolio Class

158

MAESTRO PORTFOLIO CLASSES

Maestro Income Balanced Portfolio Class

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2015 Series B – July 13, 2015 Series Tdsc – July 13, 2015 Series Tnl – July 13, 2015 Series Jdsc – July 13, 2015 Series Jnl – July 13, 2015 Series TJdsc – July 13, 2015 Series TJnl – July 13, 2015 Series U – July 13, 2015 Series Tu – July 13, 2015

Eligible for Registered Plans Yes*

Management fee 1.85% (Series A, B, Tdsc and Tnl Shares) 1.60% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.727% (Series U and Tu Shares)

Service fee 0.1875% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.250% (Series B, Tnl, Jnl and TJnl Shares)

Administration fee 0.21%

Portfolio Advisor I.G. Investment Management, Ltd.

* The Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide fixed income diversification with the potential for long-term capital appreciation by obtaining exposure to equity and fixed income securities. The Class aims to achieve this objective by investing substantially all of its assets in either Maestro Income Balanced Portfolio (the “Underlying Portfolio”) or in other Underlying Funds.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest primarily in the Underlying Portfolio.

To achieve the Underlying Portfolio’s investment objective, the Underlying Portfolio invests in Underlying Funds with, under normal market conditions, a long-term target invest-ment mix as described below:

Underlying fund type Target Mix Range

Fixed Income 37.5% 22.5 – 52.5%Equity 55% 40 – 70%Investors Real Property Fund 7.5% 0 – 10%

100%

The Portfolio Advisor may, in its sole discretion and without prior notice, actively shift the exposure to fixed income and equity underlying fund types by up to 15% from the target mix. The Portfolio Advisor may review and adjust the target mix and associated ranges of the fixed income and equity underlying fund types at any time depending on economic conditions and the relative value of fixed income and equity securities.

The Class and the Underlying Portfolio have received regulatory approval to invest up to 10% of their net assets in Investors Real Property Fund, subject to a variation of up to 2.5% to account for market fluctuations. As at the date of this Simplified Prospectus, it is the Portfolio Advisor’s intention to maintain an investment in Investors Real Property Fund equal to approximately 10% of the assets of the Underlying Portfolio. The investment by the Underlying Portfolio or the Class in Investors Real Property Fund may change at any time without prior notice.

The Class has obtained an exemption from some of the fund on fund rules in the National Instrument to allow it to purchase securities of the Underlying Portfolio where the Underlying Portfolio holds, directly or indirectly, 10% or more of the securities of Underlying Funds. Subject to the regulatory restrictions on the maximum investment in Investors Real Property Fund, the Underlying Portfolio may invest more than 10% of its net assets in one or more Under-lying Funds.

The Class and the Underlying Portfolio may also hold a portion of their assets in cash, money market securities or money market mutual funds.

The Class and the Underlying Portfolio may use Derivatives. Derivatives will be used in conjunction with the other investment strategies of the Class or Underlying Portfolio in a manner considered most appropriate to achieving their overall investment objectives and enhancing their returns as permitted by the Rules.

Maestro Income Balanced Portfolio Class

159

There will be no duplication of fees between the Class, the Underlying Portfolio and the Underlying Funds of either the Underlying Portfolio or the Class.

The portfolio management services are expected to occur at the level of: (i) the Maestro Portfolio Class with respect to the decision to invest in the Underlying Portfolio or directly in other Underlying Funds; (ii) the Underlying Portfolio with respect to the selection of its Underlying Funds; and (iii) at the applicable Underlying Fund with respect to the purchase and sale of portfolio securities and other assets held by that Underlying Fund.

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and the Underlying Portfolio and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds and the Underlying Portfolio may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Specialization risk for example. The risks that are expected to apply directly to the Class through its exposure to the Underlying Portfolio and its Underlying Funds, or by investing directly in Underlying Funds, include:

l CONCENTRATION RISK – the Class invested over 10% of its net assets in the Underlying Portfolio from the period from its inception to May 31, 2016.

l CREDIT RISK

l DERIVATIVES RISK – the Class may use Derivatives, and may be exposed to this risk through its investment in the Underlying Portfolio and its Underlying Funds.

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

l REAL PROPERTY INVESTMENT RISK – because of the Underlying Portfolio’s investment in Investors Real Property Fund and because the Class may also invest in Investors Real Property Fund.

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to engage in these transactions, but may be exposed to this risk through its investment in the Underlying Portfolio and its Underlying Funds, or by investing directly in Underlying Funds.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility, based on its anticipated volatility. For more information about this classification, please see Risk classification methodology under Specific information about the Classes.

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

• your long-term investment goal is exposure to fixed income investments with a growth component; and

• you are looking for a diversified portfolio in a single investment.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

Return of capital distributions for the Fixed Distribution Series will be paid near the end of each month. The level of monthly return of capital distributions may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Please ask your Investors Group Consultant for the current level of monthly return of capital distributions paid by the Fixed Distribution Series. Return of capital distributions are auto-matically paid out to you in cash; however, you may ask that these distributions be reinvested.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

Maestro Income Balanced Portfolio Class

160 Maestro Income Balanced Portfolio Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $80 $141 $321

Series B $26 $82 $144 $329

Series Jdsc $22 $71 $124 $282

Series Jnl $23 $74 $129 $294

Series Tdsc $25 $78 $136 $309

Series Tnl $27 $85 $149 $339

Series TJdsc $23 $74 $130 $295

Series TJnl $24 $75 $131 $299

Series U $11 $34 $59 $135

Series Tu $11 $35 $61 $138

You can find more information about expenses under Fees and expenses.

161Maestro Balanced Portfolio Class

MAESTRO PORTFOLIO CLASSES

Maestro Balanced Portfolio Class

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2015 Series B – July 13, 2015 Series Tdsc – July 13, 2015 Series Tnl – July 13, 2015 Series Jdsc – July 13, 2015 Series Jnl – July 13, 2015 Series TJdsc – July 13, 2015 Series TJnl – July 13, 2015 Series U – July 13, 2015 Series Tu – July 13, 2015

Eligible for Registered Plans Yes*

Management fee 1.90% (Series A, B, Tdsc and Tnl Shares) 1.65% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.814% (Series U and Tu Shares)

Service fee 0.2175% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.290% (Series B, Tnl, Jnl and TJnl Shares)

Administration fee 0.21%

Portfolio Advisor I.G. Investment Management, Ltd.

* The Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital appreciation with some fixed income diversification by obtaining exposure to equity and fixed income securities. The Class aims to achieve this objective by investing substantially all of its assets in either Maestro Balanced Portfolio (the “Underlying Portfolio”) or in other Underlying Funds.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest primarily in the Underlying Portfolio.

To achieve the Underlying Portfolio’s investment objective, the Underlying Portfolio invests in Underlying Funds with, under normal market conditions, a long-term target invest-ment mix as described below:

Underlying fund type Target Mix Range

Fixed Income 27.5% 12.5 – 42.5%Equity 65% 50 – 80%Investors Real Property Fund 7.5% 0 – 10%

100%

The Portfolio Advisor may, in its sole discretion and without prior notice, actively shift the exposure to fixed income and equity underlying fund types by up to 15% from the target mix. The Portfolio Advisor may review and adjust the target mix and associated ranges of the fixed income and equity underlying fund types at any time depending on economic conditions and the relative value of fixed income and equity securities.

The Class and the Underlying Portfolio have received regulatory approval to invest up to 10% of their net assets in Investors Real Property Fund, subject to a variation of up to 2.5% to account for market fluctuations. As at the date of this Simplified Prospectus, it is the Portfolio Advisor’s intention to maintain an investment in Investors Real Property Fund equal to approximately 10% of the assets of the Underlying Portfolio. The investment by the Underlying Portfolio or the Class in Investors Real Property Fund may change at any time without prior notice.

The Class has obtained an exemption from some of the fund on fund rules in the National Instrument to allow it to purchase securities of the Underlying Portfolio where the Underlying Portfolio holds, directly or indirectly, 10% or more of the securities of Underlying Funds. Subject to the regulatory restrictions on the maximum investment in Investors Real Property Fund, the Underlying Portfolio may invest more than 10% of its net assets in one or more Under-lying Funds.

The Class and the Underlying Portfolio may also hold a portion of their assets in cash, money market securities or money market mutual funds.

The Class and the Underlying Portfolio may use Deriva-tives. Derivatives will be used in conjunction with the other investment strategies of the Class or Underlying Portfolio in a manner considered most appropriate to achieving their overall investment objectives and enhancing their returns as permitted by the Rules.

162 Maestro Balanced Portfolio Class

There will be no duplication of fees between the Class, the Underlying Portfolio and the Underlying Funds of either the Underlying Portfolio or the Class.

The portfolio management services are expected to occur at the level of: (i) the Maestro Portfolio Class with respect to the decision to invest in the Underlying Portfolio or directly in other Underlying Funds; (ii) the Underlying Portfolio with respect to the selection of its Underlying Funds; and (iii) at the applicable Underlying Fund with respect to the purchase and sale of portfolio securities and other assets held by that Underlying Fund.

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and the Underlying Portfolio and, in turn, the value of the Class. Accordingly, the common investment risks applic-able to the Underlying Funds and the Underlying Portfolio may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Specialization risk for example. The risks that are expected to apply directly to the Class through its exposure to the Underlying Portfolio and its Underlying Funds include:

l CONCENTRATION RISK – the Class invested over 10% of its net assets in the Underlying Portfolio from the period from its inception to May 31, 2016.

l CREDIT RISK

l DERIVATIVES RISK – the Class may use Derivatives, and may be exposed to this risk through its investment in the Underlying Portfolio and its Underlying Funds.

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

l REAL PROPERTY INVESTMENT RISK – because of the Underlying Portfolio’s investment in Investors Real Property Fund and because the Class may also invest in Investors Real Property Fund.

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to engage in these transactions, but may be exposed to this risk through its investment in the Underlying Portfolio and its Underlying Funds, or by investing directly in Underlying Funds.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility, based on its anticipated volatility. For more information about this classification, please see Risk classification methodology under Specific information about the Classes.

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

• your long-term investment goal is growth with exposure to fixed income investments; and

• you are looking for a diversified portfolio in a single investment.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

Return of capital distributions for the Fixed Distribution Series will be paid near the end of each month. The level of monthly return of capital distributions may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Please ask your Investors Group Consultant for the current level of monthly return of capital distributions paid by the Fixed Distribution Series. Return of capital distributions are auto-matically paid out to you in cash; however, you may ask that these distributions be reinvested.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

163Maestro Balanced Portfolio Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $26 $82 $144 $329

Series B $27 $85 $149 $339

Series Jdsc $23 $73 $127 $290

Series Jnl $24 $75 $131 $299

Series Tdsc $27 $84 $148 $336

Series Tnl $27 $87 $152 $346

Series TJdsc $24 $76 $133 $302

Series TJnl $24 $77 $135 $308

Series U $12 $37 $65 $147

Series Tu $11 $35 $62 $141

You can find more information about expenses under Fees and expenses.

164

MAESTRO PORTFOLIO CLASSES

Maestro Growth Focused Portfolio Class

Class detailsType of class Balanced

Type of securities Mutual Fund Shares

Date started Series A – July 13, 2015 Series B – July 13, 2015 Series Tdsc – July 13, 2015 Series Tnl – July 13, 2015 Series Jdsc – July 13, 2015 Series Jnl – July 13, 2015 Series TJdsc – July 13, 2015 Series TJnl – July 13, 2015 Series U – July 13, 2015 Series Tu – July 13, 2015

Eligible for Registered Plans Yes*

Management fee 1.95% (Series A, B, Tdsc and Tnl Shares) 1.70% (Series Jdsc, Jnl, TJdsc and TJnl Shares) 0.891% (Series U and Tu Shares)

Service fee 0.24% (Series A, Tdsc, Jdsc and TJdsc Shares) 0.32% (Series B, Tnl, Jnl and TJnl Shares)

Administration fee 0.22%

Portfolio Advisor I.G. Investment Management, Ltd.

* The Class will not accept investments in Fixed Distribution Series by Registered Plans.

What does the Class invest in?Investment objectiveThe Class aims to provide long-term capital appreciation by obtaining exposure to equity securities. The Class will also obtain some exposure to fixed income securities. The Class aims to achieve this objective by investing substantially all of its assets in either Maestro Growth Focused Portfolio (the “Underlying Portfolio”) or in other Underlying Funds.

The investment objective of the Class may not be changed without the prior approval of the majority of its Shareholders who vote at a meeting called for that purpose, except when a change is required because of changes in the law.

Investment strategiesTo achieve its investment objective, the Class intends to invest primarily in the Underlying Portfolio.

To achieve the Underlying Portfolio’s investment objective, the Underlying Portfolio invests in Underlying Funds with, under normal market conditions, a long-term target invest-ment mix as described below:

Underlying fund type Target Mix Range

Fixed Income 20% 5 – 35%Equity 75% 60 – 90%Investors Real Property Fund 5% 0 – 10%

100%

The Portfolio Advisor may, in its sole discretion and without prior notice, actively shift the exposure to fixed income and equity underlying fund types by up to 15% from the target mix. The Portfolio Advisor may review and adjust the target mix and associated ranges of the fixed income and equity underlying fund types at any time depending on economic conditions and the relative value of fixed income and equity securities.

The Class and the Underlying Portfolio have received regulatory approval to invest up to 10% of their net assets in Investors Real Property Fund, subject to a variation of up to 2.5% to account for market fluctuations. As at the date of this Simplified Prospectus, it is the Portfolio Advisor’s intention to maintain an investment in Investors Real Property Fund equal to approximately 5% of the assets of the Underlying Portfolio. The investment by the Underlying Portfolio or the Class in Investors Real Property Fund may change at any time without prior notice.

The Class has obtained an exemption from some of the fund on fund rules in the National Instrument to allow it to purchase securities of the Underlying Portfolio where the Underlying Portfolio holds, directly or indirectly, 10% or more of the securities of Underlying Funds. Subject to the regulatory restrictions on the maximum investment in Investors Real Property Fund, the Underlying Portfolio may invest more than 10% of its net assets in one or more Under-lying Funds.

The Class and the Underlying Portfolio may also hold a portion of their assets in cash, money market securities or money market mutual funds.

The Class and the Underlying Portfolio may use Deriva-tives. Derivatives will be used in conjunction with the other investment strategies of the Class or Underlying Portfolio in a manner considered most appropriate to achieving their overall investment objectives and enhancing their returns as permitted by the Rules.

Maestro Growth Focused Portfolio Class

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There will be no duplication of fees between the Class, the Underlying Portfolio and the Underlying Funds of either the Underlying Portfolio or the Class.

The portfolio management services are expected to occur at the level of: (i) the Maestro Portfolio Class with respect to the decision to invest in the Underlying Portfolio or directly in other Underlying Funds; (ii) the Underlying Portfolio with respect to the selection of its Underlying Funds; and (iii) at the applicable Underlying Fund with respect to the purchase and sale of portfolio securities and other assets held by that Underlying Fund.

What are the risks of investing in the Class?The securities in which the Underlying Funds invest fluctuate in value, which will affect the values of each Underlying Fund and the Underlying Portfolio and, in turn, the value of the Class. Accordingly, the common investment risks applicable to the Underlying Funds and the Underlying Portfolio may affect the value of the Class. These risks may not be mentioned here, but are explained under What are the risks of investing in a mutual fund? Also, it is important to keep in mind that the diversification provided by the Class may help to offset some of the risks that may be associated with one or more of the Underlying Funds, such as Specialization risk for example. The risks that are expected to apply directly to the Class through its exposure to the Underlying Portfolio and its Underlying Funds, or by investing directly in Underlying Funds, include:

l CONCENTRATION RISK – the Class invested over 10% of its net assets in the Underlying Portfolio from the period from its inception to May 31, 2016.

l CREDIT RISK

l DERIVATIVES RISK – the Class may use Derivatives, and may be exposed to this risk through its investment in the Underlying Portfolio and its Underlying Funds.

l DISTRIBUTION ADJUSTMENT RISK – Fixed Distribution Series

l EQUITY INVESTMENT RISK

l FIXED INCOME INVESTMENT RISK

l FOREIGN CURRENCY RISK

l FOREIGN INVESTMENT RISK

l INTEREST RATE RISK

l LARGE ORDER RISK

l REAL PROPERTY INVESTMENT RISK – because of the Underlying Portfolio’s investment in Investors Real Property Fund and because the Class may also invest in Investors Real Property Fund.

l SECURITIES LENDING, REPURCHASE AND REVERSE REPURCHASE TRANSACTION RISK – the Class does not intend to engage in these transactions, but may be exposed to this risk through its investment in the Underlying Portfolio and its Underlying Funds, or by investing directly in Underlying Funds.

Who should invest in this Class?Before you invest in any mutual fund, you should consider how it would work with your other investments and your tolerance for risk. Under the volatility classification guide-lines recommended by the Investment Funds Institute of Canada, we have classified the Class as having a low to medium level of volatility, based on its anticipated volatility. For more information about this classification, please see Risk classification methodology under Specific information about the Classes.

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

• your long-term investment goal is capital growth; and• you are looking for a diversified portfolio in a

single investment.

Note: You should consider investing in the Fixed Distribution Series of the Class if you are seeking a steady, monthly cash flow and your investment will not be in a Registered Plan.

Distribution policyDividends are not paid at regular times. The Corporation’s Board of Directors determines when and if Dividends are paid. The Corporation may pay ordinary Dividends or capital gains Dividends. Please see Automatic reinvestment of Dividends for more information.

Return of capital distributions for the Fixed Distribution Series will be paid near the end of each month. The level of monthly return of capital distributions may be adjusted or discontinued during the year if this is determined by the Corporation to be in the best interests of the Class. Please ask your Investors Group Consultant for the current level of monthly return of capital distributions paid by the Fixed Distribution Series. Return of capital distributions are auto-matically paid out to you in cash; however, you may ask that these distributions be reinvested.

For information about how Dividends and return of capital distributions can affect your taxes, see Income tax consider-ations for Shareholders.

Maestro Growth Focused Portfolio Class

166 Maestro Growth Focused Portfolio Class

Class expenses indirectly borne by investorsEstimated cumulative expenses payable by each Series of the Class for each $1,000 investment (see Class expenses indirectly borne by investors in the overview for an explana-tion of the assumptions used in this example) for the time periods shown:

Fees and expenses paid

over 1 year over 3 years over 5 years over 10 years

Series A $27 $86 $150 $342

Series B $28 $89 $156 $356

Series Jdsc $24 $77 $134 $306

Series Jnl $25 $78 $136 $311

Series Tdsc $27 $84 $148 $336

Series Tnl $29 $90 $158 $360

Series TJdsc $23 $73 $129 $293

Series TJnl $25 $78 $136 $311

Series U $13 $41 $72 $164

Series Tu $12 $38 $67 $152

You can find more information about expenses under Fees and expenses.

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Additional informationAn explanation of some terms used in this Simplified Prospectus:

Allegro Portfolios refers to the Allegro Corporate Class Portfolios™ including one or more of Allegro Balanced Portfolio Class, Allegro Balanced Growth Portfolio Class, Allegro Balanced Growth Canada Focus Portfolio Class, Allegro Growth Portfolio Class, Allegro Growth Canada Focus Portfolio Class and Allegro Income Balanced Portfolio Class.

Business Day means any day a Class is open to accept orders to purchase or sell Shares.

Capitalization means the value of a company’s publicly traded stock. The value is determined by multiplying the number of shares issued by the company by the price of each share. It is a simple way of comparing the company’s market size to others in the stock market.

Class means any one or more of the mutual funds offered in this Simplified Prospectus, each of which is a class of Shares of Investors Group Corporate Class Inc.™

Class Costs has the meaning described under Fees and expenses paid by the Class in this Simplified Prospectus.

Corporation means Investors Group Corporate Class Inc.™

Counterparty refers to the person (normally an investment dealer or financial institution) with whom a Class enters into a Derivative, Securities Lending Transaction, Repurchase Transaction or Reverse Repurchase Transaction.

Custodian means Canadian Imperial Bank of Commerce through CIBC Mellon Global Custody Services.

Deadline refers to the time by which orders must be received to obtain that day’s price, usually 3:00 p.m. Central Time or earlier at the discretion of the Manager if, for example, the Toronto Stock Exchange closes earlier on any Business Day.

Derivative means a financial instrument that derives its value from the value of another security, index, economic indicator or other financial instrument. Examples of Deriva-tives include:

• Options, which are securities that give a mutual fund the ability to buy or sell a security at a pre-set price until a future date, but the mutual fund need not elect to do so;

• Forward Contracts, which are similar to Options, but instead they require a mutual fund to purchase or sell a security or commodity at a pre-set price at a future date, or exchange the equivalent value of the Forward Contract in cash. The Counterparty will be obliged to pay the mutual fund any increase in the value of the Forward Contract, or

the mutual fund will be obliged to pay the Counterparty any decrease in the value of the Forward Contract;

• Futures Contracts, which are standardized Forward Contracts that trade on a futures exchange; and

• Swaps, which are arrangements under which the mutual fund agrees to exchange cash flows from different financial instruments with another party. Some examples include an interest rate Swap in which a mutual fund agrees to exchange a fixed rate of interest on a bond for a floating rate of interest on another bond of the same amount, and a credit default Swap when a premium is paid by a mutual fund for a right to receive a payment if a bond issuer commits certain specified defaults.

Designated Rating means that the debt securities of a company or government have been rated “A” (or its equiva-lent) or better, by a designated organization or its affiliates, and no other designated rating organization or its affiliates have given the same debt securities a lower rating, and there has been no announcement by any designated rating organ-ization or its affiliates that the rating may be downgraded to a lower rating that is not a Designated Rating.

Dividends are distributions of a portion of the Corporation’s net income or net realized gains, as determined by the Board of Directors of the Corporation, that are payable to the Shareholders of a Class or Classes. Dividends do not include return of capital distributions.

DSC means deferred sales charge and refers to Shares or units of an Investors Group Fund that you purchase that may be subject to a redemption fee when you sell (other than when you switch to another Investors Group Fund).

Fixed Distribution Series means all or any of Series Tdsc, Series Tnl, Series TJdsc, Series TJnl, Series Tu and Series Ti Shares.

GIFs are Guaranteed Investment Funds and refer to the family of segregated funds named “IG/GWL Guaranteed Investment Funds” which are issued by The Great-West Life Assurance Company and available exclusively through Investors Group Consultants.

Group Plan means a Registered Retirement Savings Plan (RRSP) or a Tax-Free Savings Account (TFSA) that is sponsored by an employer, union or formal association generally consisting of at least five members, which is admin-istered by a trustee that is an affiliate of Investors Group.

Household includes individuals residing at the same primary residence who are advised by the same Investors Group Consultant. Some exceptions may apply for certain client relationships, including but not limited to corporations and foundations.

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Household Investments include investments made and still held by a Household in all Investors Group Funds (other than investments in RDSP Series), GIFs and discretionary managed accounts that may be offered by IGSI, except for purposes of determining the advisory fees payable for Series U Shares and Series Tu Shares where GIFs and managed accounts are not included.

Investors Group, us, we or our refers to any one of Investors Group Inc. and its subsidiaries, including the Manager, Portfolio Advisors or Principal Distributors, as appropriate in the context.

Investors Group Funds means the Classes and any other Investors Group sponsored mutual funds distributed through your Investors Group Consultant.

Investors Group Portfolios means the Portfolios and the Portfolio Funds.

iProfile Classes means any one or more of the iProfile family of corporate class mutual funds which are offered by Investors Group under a separate prospectus, each of which is a class of shares of Investors Group Corporate Class Inc.

iProfile Funds means any one or more of the iProfile family of mutual funds, including pools (each of which is a mutual fund trust) and the iProfile Classes, which are offered by Investors Group under a separate prospectus.

Liquidity means the ease with which a mutual fund can buy or sell investments at a fair market price.

Maestro Portfolio Classes refers to one or more of Maestro Income Balanced Portfolio Class, Maestro Balanced Portfolio Class and Maestro Growth Focused Portfolio Class.

Manager means I.G. Investment Management, Ltd.

MER means management expense ratio and shows the fees and operating expenses of each Series as an annualized percentage of its average net assets for its financial year.

Money Market Funds refers to, for certain purposes as mentioned in this Simplified Prospectus, any one, or all, of the following:

• Investors Canadian Money Market Fund;• Investors U.S. Money Market Fund; and• Investors Canadian Money Market Class.

National Instrument means National Instrument 81-102, a regulatory rule that governs the investment and administra-tion of mutual funds.

No-load means you do not pay a sales charge when you buy Shares or units, nor a redemption fee when you sell those Shares or units.

Nominee Held refers to investments registered in the name of the applicable Principal Distributor, or its service providers, on behalf of the investor who is the beneficial owner of the investments.

Non-retail Series refers to units or shares that may be offered by Investors Group Funds from time to time for investment by other Investors Group Funds and other qualified investors.

Portfolios refers to the Allegro Portfolios and the Maestro Portfolio Classes.

Portfolio Advisor refers to either one, or both, of the following (depending on the context):

• I.G. Investment Management, Ltd. (referred to as “IGIM”); and

• I.G. International Management Limited (sometimes referred to as “IGIM Dublin”).

Portfolio Funds refer to any one or more of the Allegro Portfolios™, Alto Portfolios™, Investors Portfolios, Investors Cornerstone Portfolios™ and Maestro Portfolios™ which are offered by Investors Group under a separate prospectus.

Portfolio Turnover Rate indicates the rate at which a mutual fund changes its investments. A turnover rate of 100% means that the mutual fund entered into transactions equivalent to having bought and sold its entire portfolio once in a year.

Principal Distributor(s) refers to either one, or both, of the following (depending on the context):

• Investors Group Financial Services Inc.; and• Investors Group Securities Inc.

RDSP Series refers to units offered by some Investors Group Funds for retail distribution under a separate prospectus to purchasers who qualify for the Disability Tax Credit under the Tax Act.

Registered Plan refers to when an investment is held within a pension plan or another plan registered under the Tax Act. Examples of Registered Plans include:

• Registered Retirement Savings Plans (RRSPs) and similar Registered Plans, including:

– Locked-in Retirement Accounts (LIRAs); – Locked-in Registered Retirement Savings Plans (Locked-in RRSPs); and

– Restricted Locked-in Savings Plans (RLSPs);• Registered Retirement Income Funds (RRIFs) and similar

Registered Plans including: – Locked-in Retirement Income Funds (LRIFs);

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– Prescribed Retirement Income Funds (PRIFs); – Life Income Funds (LIFs); and – Restricted Life Income Funds (RLIFs);

• Registered Education Savings Plans (RESPs);• Group RRSPs;• Tax-Free Savings Accounts (TFSAs); and• Group TFSAs.

Repurchase Transaction means an agreement where a mutual fund sells a security to a Counterparty and, at the same time, agrees to buy back the same security from the Counterparty at a lower price, usually within a few days. This allows the mutual fund to earn an additional return.

Reverse Repurchase Transaction means an agreement where a mutual fund buys a security from a Counterparty and, at the same time, agrees to sell the same security back to the Counterparty at a higher price, usually within a few days. This allows the mutual fund to earn an additional return.

Rules means the standard investment rules applicable to all mutual funds in Canada, including those in the National Instrument, unless a mutual fund has obtained regulatory approval to make other investments.

Sales Taxes means Goods and Services Tax (GST), Harmonized Sales Tax (HST) and Quebec Sales Tax (QST), as applicable.

Securities Lending Transactions are transactions where securities are loaned by a mutual fund in exchange for collateral.

Series means any one or more of the particular classes of shares or units being offered by the Investors Group Funds. Each Series has its own fees, expenses and price.

Series A Shares means the Series A Shares (DSC purchase option) of a Class.

Series B Shares means the Series B Shares (No-load purchase option) of a Class.

Series J Shares means Shares of a Class which are available for purchasers who generally have Household Investments of $500,000 or more. Series J Shares are offered under a DSC purchase option (Series Jdsc Shares) and a No-load purchase option (Series Jnl Shares).

Series T Shares means Shares of a Class which are designed for purchasers who wish to receive a steady, monthly cash flow which is generally effected by a return of capital. Series T Shares are offered under a DSC purchase option (Series Tdsc Shares) and a No-load purchase option (Series Tnl Shares).

Series TJ Shares means Shares of a Class which are available for purchasers who generally have Household Investments of $500,000 or more and who wish to receive a steady, monthly cash flow which is generally effected by a return of capital. Series TJ Shares are offered under a DSC purchase option (Series TJdsc Shares) and a No-load purchase option (Series TJnl Shares).

Series Tu Shares means Shares of a Class which are available for purchasers who generally have Household Investments of $500,000 or more, agree to pay an advisory fee and wish to receive a steady, monthly cash flow which is generally effected by a return of capital. Series Tu Shares are offered under a No-load purchase option only for direct investments (switches into Series Tu Shares from DSC purchase option Shares or units are allowed but the redemption fee schedule continues for such Shares or units).

Series U Shares means Shares of a Class which are available for purchasers who generally have Household Investments of $500,000 or more and agree to pay an advisory fee. Series U Shares are offered under a No-load purchase option only for direct investments (switches into Series U Shares from DSC purchase option Shares or units are allowed but the redemption fee schedule continues for such Shares or units).

Series C Units refers to units of other Investors Group Funds purchased on or before July 28, 2003, or pursuant to PACs set up prior to that date, or in some circumstances units of other Investors Group Funds acquired through switches of these investments after July 28, 2003 (including Series Tc units) and includes units designated as Series C Units.

Shareholder means a person holding Shares of a Class.

Shares means the mutual fund shares of a Series of the Classes.

Sub-advisor means an investment advisor retained by the Portfolio Advisor to provide investment services in regard to one or more Classes.

Tax Act means the Income Tax Act (Canada) as it may be amended from time to time.

Underlying Fund means any Investors Group Fund or mutual fund managed by an affiliate or associate of the Manager in which one or more Investors Group Funds invests.

Underlying Portfolio Fund means any Portfolio Fund managed by an affiliate or associate of the Manager in which one or more of the Portfolios invests.

Additional information about the Classes is available in the following documents:

• the Annual Information Form;• the most recently filed Fund Facts;• the most recently filed annual financial statements;• any interim financial reports of the Classes filed since the annual financial statements were 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.

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 no cost by:

• writing to Investors Group, 447 Portage Avenue, Winnipeg, Manitoba R3B 3H5;• calling toll-free 1-888-746-6344 (or 1-800-661-4578 in Quebec);• asking your Investors Group Consultant; or• contacting us at contact-e@investorsgroup.com (for service in English) or contact-f@investorsgroup.com

(for service in French).

These documents and other information about the Classes, such as information circulars and material contracts, are also available:

• on our website at www.investorsgroup.com; or• at www.sedar.com.

Simplified ProspectusInvestors Group Corporate Class Inc.™ Classes

™Trademarks, including Investors Group, are owned by IGM Financial Inc. and licensed to its subsidiary corporations.“Simplified Prospectus” © Investors Group Inc. 2016 C3130 (06/2016-PW)