CI Investments announces fund mergers and other changes

TSX Symbol: CIX

TORONTO, May 27, 2013 /CNW/ - CI Investments Inc. ("CI") today announced a proposal to merge three funds and change the mandates of three others.

CI is proposing the following mergers:

Terminating fund	Continuing fund
Cambridge Canadian Stock Fund	Cambridge Canadian Equity Corporate Class
CI Japanese Corporate Class	CI Pacific Corporate Class
CI U.S. Equity Plus Fund	Cambridge American Equity Corporate Class

In addition, CI is proposing to change the investment objectives of three funds from a Canadian-focused mandate to a global mandate: Cambridge High Income Fund, Signature Canadian Resource Fund and Signature Canadian Resource Corporate Class. At the same time, the resource funds will be renamed Signature Global Resource Fund and Signature Global Resource Corporate Class, respectively.

"The mandate change will benefit the funds by providing the portfolio managers with a much wider range of investment choices and the potential for increased diversification," said Derek J. Green, President of CI Investments. "Meanwhile, with the mergers, investors will benefit from being part of larger funds with greater access to investment opportunities, while allowing CI to streamline its lineup and reduce the duplication of funds."

The changes to the investment objectives are as follows:

Current investment objective	New investment objective
Cambridge High Income Fund
To achieve a high level of income by investing primarily in Canadian income trusts, Canadian fixed-income securities and other Canadian income-producing securities.	To achieve a high level of income by investing primarily in fixed-income and high-yielding equity securities and other income-producing securities throughout the world.
Signature Canadian Resource Fund / Corporate Class
To obtain maximum long-term capital growth. It invests primarily in equity and equity-related securities of Canadian companies engaged in or related to the energy, commodity and natural resource industries.	To obtain maximum long-term capital growth. It invests primarily in equity and equity-related securities of companies engaged in or related to the energy, commodity and natural resource industries throughout the world.

The changes require the approval of investors in the terminating funds, CI Pacific Corporate Class, and the funds subject to a change in investment objectives. Information circulars and proxy forms will be mailed to securityholders in June and securityholder meetings have been scheduled for July 22, 2013. Pending approval, the mergers and mandate changes will take place on or about July 26, 2013.

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 and mandate changes with respect to conflict of interest issues and has determined that they achieve a fair and reasonable result for the funds.

The change of investment objective for Signature Canadian Resource Fund indirectly affects one segregated fund, Clarica SF CI Signature Canadian Resource Fund, which invests in units of the mutual fund. The change does not require the approval of investors in the segregated fund. In addition, the name of the segregated fund will be changed to Clarica SF CI Signature Global Resource Fund.

In other developments, CI is changing the name of two funds to better reflect their mandates, effective July 26, 2013. Harbour Foreign Equity Corporate Class is being renamed Harbour Global Equity Corporate Class, and Harbour Foreign Growth & Income Corporate Class will become Harbour Global Growth & Income Corporate Class.

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 $105.8 billion in assets as of April 30, 2013.

SOURCE: CI Investments Inc.

Murray Oxby
Director, Communications
CI Investments
[phone]