CI Investments provides update on proposed fund mergers and announces related portfolio manager changes

TORONTO, Nov. 12, 2019 /CNW/ - CI Investments Inc. ("CI") today provided an update on its proposal to merge 30 investment funds into other mandates and announced portfolio management changes affecting two funds.

Under the proposal, first announced on September 23, 2019, 30 mandates (terminating funds) will be merging with other funds (continuing funds) and their investors will receive the equivalent dollar value of securities in the corresponding continuing funds.

In the case of 20 mergers, the approval of securityholders of the terminating funds and of certain continuing corporate class funds is required for the mergers to proceed. Securityholders in all such terminating funds approved the merger proposals at meetings held on November 11, 2019 in Toronto. Meetings of securityholders in the continuing corporate class funds have been adjourned to November 18, 2019.

The following mergers have received all required approvals and will take effect on or after November 22, 2019:

Terminating Fund	Continuing Fund
Cambridge Canadian Growth Companies Fund	Cambridge Growth Companies Fund^1
CI American Equity Fund	Sentry U.S. Growth and Income Fund
CI Global Small Companies Fund	Cambridge Growth Companies Fund^1
Harbour Canadian Dividend Fund	Sentry Growth and Income Fund^2
Harbour Fund	CI Canadian Investment Fund
Harbour Global Equity Fund	CI Global Value Fund
Harbour Global Growth & Income Fund	Signature Global Income & Growth Fund
Harbour Growth & Income Fund	Signature Canadian Balanced Fund
Lawrence Park Strategic Income Fund	CI Investment Grade Bond Fund
Marret High Yield Bond Fund	Signature High Yield Bond II Fund^3
Sentry Alternative Asset Income Fund	Signature Diversified Yield II Fund^4
Sentry Canadian Bond Fund	Signature Core Bond Plus Fund
Sentry Canadian Fixed Income Private Pool	CI Canadian Fixed Income Private Pool
Sentry Conservative Monthly Income Fund	Portfolio Series Income Fund
Sentry Corporate Bond Fund	Signature Corporate Bond Fund
Sentry Diversified Equity Fund	Sentry All Cap Income Fund
Sentry Energy Fund	Signature Global Energy Corporate Class
Sentry Global Growth and Income Fund	Cambridge Global Dividend Fund
Sentry Global High Yield Bond Fund	Signature High Yield Bond II Fund^3
Sentry Global Mid Cap Income Fund	Cambridge Growth Companies Fund^1
Sentry Global Tactical Fixed Income Private Pool	CI Global Unconstrained Bond Private Pool
Sentry Money Market Fund	CI Money Market Fund
Signature Real Estate Pool	Sentry Global REIT Fund^5

The following mergers will take place on or after April 3, 2020, pending the approval of securityholders of the continuing funds. The terminating funds listed below were closed to new investors effective November 11, 2019 until they are merged next year. Current securityholders and securityholders in discretionary managed accounts may continue to make additional investments into the funds.

Terminating Fund	Continuing Fund
CI Can-Am Small Cap Corporate Class	Cambridge Growth Companies Corporate Class^6
CI Global Small Companies Corporate Class	Cambridge Growth Companies Corporate Class^6
Harbour Corporate Class	CI Canadian Investment Corporate Class
Harbour Global Equity Corporate Class	CI Global Value Corporate Class
Harbour Global Growth & Income Corporate Class	Signature Global Income & Growth Corporate Class
Harbour Voyageur Corporate Class	CI Canadian Investment Corporate Class
Signature Gold Corporate Class	Sentry Precious Metals Class

¹To be renamed Cambridge Global Smaller Companies Fund

²To be renamed CI North American Dividend Fund

³To be renamed Signature High Yield Bond Fund

⁴To be renamed Signature Diversified Yield Fund

⁵To be renamed Signature Global REIT Fund

⁶To be renamed Cambridge Global Smaller Companies Corporate Class

Portfolio management changes

Effective today, Cambridge Global Asset Management ("Cambridge"), a division of CI, has been named portfolio manager of CI Can-Am Small Cap Corporate Class and CI Global Small Companies Corporate Class. The changes mean the funds will have the same portfolio manager as Cambridge Growth Companies Corporate Class, the fund into which they are being merged in April 2020. In preparation for the mergers, Cambridge will begin transitioning the portfolios of CI Can-Am Small Cap Corporate Class and CI Global Small Companies Corporate Class to align with the portfolio of Cambridge Growth Companies Corporate Class, which has an objective to provide long-term capital growth primarily through the investment in common shares of companies located anywhere in the world.

For further information about the mergers, along with a list of previously announced fund name changes that will take effect on or about November 22, 2019, please visit CI's Fund Merger Information page on www.ci.com.

About CI Investments Inc. – Trusted Partner in Wealth™

CI Investments 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 www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent company offering global asset management and wealth management advisory services. CI Financial had $178 billion in assets as of October 31, 2019.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing.  Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

CI Investments, the CI Investments design and Cambridge are registered trademarks of CI Investments Inc.

©CI Investments Inc. 2019. All rights reserved.

SOURCE CI Financial Corp.

Murray Oxby, Vice-President, Communications, CI Investments Inc., 416-681-3254, [email protected]

Related Links

http://www.ci.com/