Convertible & Yield Advantage Trust Announces Upcoming Termination

TSX Symbol:  CNV.UN

TORONTO, Oct. 24, 2013 /CNW/ - Convertible & Yield Advantage Trust (the "Trust") announced today that the Trust will redeem all of its outstanding redeemable, transferable units (the "Units") on October 31, 2013 (the "Redemption Date") as contemplated by the constating documents of the Trust. The Trust will request that the Units be delisted from the Toronto Stock Exchange after the close of trading on October 28, 2013. Thereafter, the Trust may pay a special distribution to all Unitholders of record on October 31, 2013 prior to redeeming the Units. Such distribution will reduce the redemption price per Unit by an equivalent amount. The distribution, if any, together with the redemption proceeds for the Units, will be paid by the Trust on or about November 5, 2013 through CDS Clearing and Depository Services Inc.  It is anticipated that the Units will be redeemed at their net asset value per unit on the Redemption Date.

As the Trust is terminating, it will not pay its regular monthly distribution of $0.1458 per Unit to unitholders of record on October 31, 2013.

The Units are currently listed on the Toronto Stock Exchange under the symbol CNV.UN.

SOURCE: CI Financial Corp.

For further information:

CI Investments Inc.
(416) 364-1145
1-800-268-9374


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