CI Investments announces fund mergers

TSX Symbol: CIX

TORONTO, May 4, 2015 /CNW/ - CI Investments Inc. ("CI") today announced a proposal to merge three funds:

Terminating fund	Continuing fund
CI Alpine Growth Equity Fund	CI Canadian Small/Mid Cap Fund
CI U.S. Equity Plus Fund	Cambridge American Equity Corporate Class
Signature Diversified Yield Fund	Signature Diversified Yield II Fund

The mergers of CI U.S. Equity Plus and Signature Diversified Yield funds require unitholder and regulatory approval. An information circular and proxy form will be mailed to the two funds' unitholders in June and meetings have been scheduled for July 3, 2015. Pending approval, the mergers will take place after the close of business on or about July 10, 2015. The merger of CI Alpine Growth Equity does not require unitholder approval and will proceed after the close of business on or about July 10, 2015. The fund's unitholders will be notified of the change in June.

The CI Investments Board of Governors, acting in its capacity as the independent review committee for the funds, has reviewed all of the proposed mergers with respect to conflict of interest issues and has determined that they achieve a fair and reasonable result for the funds.

The mergers will reduce duplication within the CI fund lineup while investors will benefit from being part of larger funds with greater access to investment opportunities.

The mergers indirectly affect two segregated funds that currently invest in units of CI Alpine Growth Equity Fund. Following the mutual fund merger, Clarica SF CI Alpine Growth Equity Fund and Clarica SF Growth Fund will invest in units of CI Canadian Small/Mid Cap Fund.

About CI Investments
CI is one of Canada's largest investment management companies. It offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with approximately $140.7 billion in assets as of March 31, 2015.

SOURCE CI Investments Inc.

Murray Oxby, Director, Communications, [phone], [email protected]