CI Financial’s investment division has proposed merging six investment funds into other funds.
The company says the move is intended to “reduce duplication and to help streamline and simplify its fund lineup.” The proposed fund changes are as follows:
| Terminating fund | Continuing fund |
|---|---|
| CI International Fund | CI International Value Fund |
| CI International Corporate Class | CI International Value Corporate Class |
| Signature High Yield Bond Fund | Signature High Yield Bond II Fund |
| Synergy Tactical Asset Allocation Fund | Signature Income & Growth Fund |
| Marret Strategic Yield Fund | Signature Diversified Yield II Fund |
| CI Global Managers Corporate Class | Select 100e Managed Portfolio Corporate Class |
All but two of the proposed mergers require security holder and regulatory approvals. The two that don’t are the mergers of the Signature High Yield Bond Fund into the Signature High Yield Bond II Fund, and the Synergy Tactical Asset Allocation Fund into Signature Income & Growth Fund. Those two mergers will occur at the close of business on or about November 3, 2017.
CI has also announced that the name of the CI Canadian Dividend Fund will be changed to Harbour Canadian Dividend Fund, effective November 6, 2017. This reflects portfolio management changes.
CI Financial this month announced a deal to purchase Sentry for $780 million.
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