It bears pointing out that investment cast products can and often do contain voids within the material. It takes a significant amount of work to minimize casting voids.
A casting void is essentially an air pocket or bubble in the liquid metal. If the pour into the mould is done improperly, small air pockets can form as the metal cools. These, of course, can make the product weaker than forged steel.
Steel forging uses hammers and pressure to drive out the air pockets and form the metal into a cohesive piece. This is not done on investment cast parts. This is one reason some parts of a Ruger (e.g. topstrap) are thicker than on Colt, S&W and other forged metal frames.
MIM uses a powdered metal blended with a polymer. This is injected into an oversized mould (oversized for the finished part). This "green" part is then heated to drive off the polymer and fuse the metal together in a process called sintering. During the heating process, the part shrinks predictably and tolerances of the finished part often require no secondary machining steps. MIM is especially good for smaller parts with complex shapes that would normally require several machining steps.
MIM reportedly is around 98% as dense as wrought iron so it is better than investment casting for strength in small parts. Tensile strength of properly treated MIM parts is close to that of mill forged steel.