TORONTO--(BUSINESS WIRE)--

(“CI GAM”) announces that it has received the required securityholder approval to proceed with the merger of six mutual funds and two ETFs into other mandates.

The mergers will be implemented after the close of business on or about April 4, 2025, except for the mergers of CI Canadian Core Plus Bond Fund and CI Global Equity & Income Fund, which will be implemented on or about May 2, 2025. The mergers were first on November 18, 2024 and, for those requiring securityholder approval, were approved by securityholders at meetings held on March 19, 2025.

CI GAM is undertaking the mergers to streamline and modernize its product lineup and believes investors will benefit from continuing funds with larger net asset values that allow for increased portfolio diversification opportunities and a larger profile within the marketplace.

The mergers are listed below.

Mutual fund mergers

ETF mergers

The costs and expenses associated with the mergers are being borne by CI GAM, not the terminating funds and ETFs. In all cases, the combined management and administration fees with respect to each series of the continuing funds are the same as or lower than the combined management and administration fees that are currently payable by the corresponding series of the terminating funds and ETFs. None of the mergers will result in a change of portfolio management teams.

The mergers of CI Canadian Core Plus Bond Fund, CI Resource Opportunities Class, CI Short-Term Bond Fund, CI Bio-Revolution Index ETF and CI Short Term Government Bond Index ETF are to be effected on a taxable basis, resulting in a taxable disposition if the funds are held in a non-registered account. The other mergers will be effected on a non-taxable basis.

The Independent Review Committee for the terminating funds and ETFs reviewed the mergers with respect to potential conflict of interest matters and provided a positive recommendation or its approval, as applicable, having determined that the mergers, if implemented, achieve a fair and reasonable result for each of the terminating funds and ETFs.

CI Alternative Investment Grade Credit Fund additional custodian appointments

CI Alternative Investment Grade Credit Fund has obtained exemptive relief, subject to certain conditions, to appoint more than one custodian, including prime brokers qualified under section 6.2 of NI 81-102. This includes meeting all other requirements in NI 81-102 Part 6 Custodianship of Portfolio Assets. TD Securities Inc. and BMO Nesbitt Burns Inc. have been appointed as additional custodians of the fund effective on March 20, 2025.

About CI Global Asset Management

CI Global Asset Management (“CI GAM”) is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the web at . CI GAM is a subsidiary of (TSX: CIX), an integrated global asset and wealth management company with approximately $529.4 billion in total assets as at December 31, 2024.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs are not guaranteed; their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management believe to be reasonable assumptions, CI Global Asset Management cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

The CI Exchange-Traded Funds are managed by CI Global Asset Management, a wholly owned subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2025. All rights reserved.

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