I.G. Investment Management, Ltd.

Headnote

National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions -- relief granted to mutual funds for an extension of the lapse date for their prospectus.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., s. 62(5).

May 20, 2021

IN THE MATTER OF THE SECURITIES LEGISLATION OF MANITOBA AND ONTARIO (the Jurisdictions) AND IN THE MATTER OF THE PROCESS FOR EXEMPTIVE RELIEF APPLICATIONS IN MULTIPLE JURISDICTIONS AND IN THE MATTER OF I.G. INVESTMENT MANAGEMENT, LTD. (the Filer) AND IN THE MATTER OF iPROFILE PORTFOLIO -- GLOBAL FIXED INCOME BALANCED iPROFILE PORTFOLIO -- GLOBAL NEUTRAL BALANCED iPROFILE PORTFOLIO -- GLOBAL EQUITY BALANCED iPROFILE PORTFOLIO -- GLOBAL EQUITY (the iProfile Portfolios)

DECISION

Background

The securities regulatory authority or regulator in each of the Jurisdictions (the Decision Maker) has received an application from the Filer on behalf of the Funds for a decision under the securities legislation of the Jurisdictions (the Legislation) to permit the Funds to extend the time limit for the renewal of the Funds' Simplified Prospectuses as if its lapse date was June 28, 2021 (the Exemption Sought).

Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a passport application):

(a) the Manitoba Securities Commission is the principal regulator for this application;

(b) the Filer has provided notice that section 4.7(1) of Multilateral Instrument 11-102 PassportSystem (MI 11-102) is intended to be relied upon in British Columbia, Alberta, Saskatchewan, Manitoba, Québec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, the Northwest Territories, Nunavut, and Yukon and;

(c) the decision is the decision of the principal regulator and evidences the decision of the securities regulatory authority or regulator in Ontario.

Interpretation

Terms defined in NI 81-101, National Instrument 14-101 Definitions, and MI 11-102 have the same meaning if used in this decision, unless otherwise defined.

Representations

This decision is based on the following representations made by the Filer:

1. The Filer is a corporation duly constituted under the laws of Canada with its head office located in Winnipeg, Manitoba.

2. The Filer is registered as an investment fund manager in Manitoba, Ontario, Québec, and Newfoundland & Labrador, and as an advisor in the category of portfolio manager in in all the provinces and territories of Canada.

3. The Filer and the Funds are not in default of securities legislation in any of the Jurisdictions.

4. The Simplified Prospectus for the iProfile Portfolios was dated and receipted by the principal regulator on May 29, 2020.

5. This Pursuant to NI 81-101 s 2.5(3) and section 62(1) of the Securities Act (Ontario), the lapse date for the Current Prospectus is May 29, 2021 (the Current Lapse Date). Accordingly, under the Legislation, the distribution of securities of the Fund would have to cease on its applicable Current Lapse Date unless: (i) the Fund files a pro forma simplified prospectus at least 30 days prior to its Current Lapse Date; (ii) the final simplified prospectus is filed no later than 10 days after its Current Lapse Date; and (iii) a receipt for the final simplified prospectus is obtained within 20 days after its Current Lapse Date.

6. The iProfile Portfolios, along with the iProfile Private Portfolios, which are sold under separate simplified prospectus, makeup the iProfile Managed Solutions at IG Wealth Management. The Simplified Prospectus for the iProfile Private Portfolios (along with the other simplified prospectuses for IG Wealth Management Mutual Funds) will all be dated June 28, 2021 (the Requested Date).

7. The iProfile Portfolios invest primarily in the funds of the iProfile Private Portfolios and the operational decisions and other updates applicable to the iProfile Portfolios will align with those of the iProfile Private Portfolios. Decisions regarding the iProfile Private Portfolios that may affect the iProfile Portfolios as well, and keeping the Simplified Prospectuses updated and aligned to the same date will make for more consistent disclosure and administration of the affected funds.

8. The Filer submits that the Exemption Sought to allow for filing of the Simplified Prospectus using the Requested Date will not affect the reliability and accuracy of the information contained in the Simplified Prospectus and is not contrary to the public interest.

Decision

The principal regulator is satisfied that the decision meets the test set out in the Legislation for the principal regulator to make the decision.

The decision of the principal regulator under the Legislation is that the Exemption Sought is granted.

Application File #: 2021/0238