TORONTO, June 19, 2019 /CNW/ - CI Investments Inc. ("CI"), today announced it will be holding a unitholder meeting in respect of Trident Global Opportunities Fund and CI Global Opportunities Fund (the "Funds") to propose fixing a termination date of July 31, 2019.
Trident Investment Managements Founder and Chief Investment Officer Nandu Narayanan has decided to close his business and cease managing money for external investors. As a result, Trident has notified CI of its intention to resign as manager of the underlying fund, Vardana Fund, Ltd., to which the Funds have exposure. Mr. Narayanan has decided to explore opportunities outside of the financial industry.
"I want to thank the fantastic financial advisors and brokers in Canada who have supported us and the clients who have invested with us for so long," said Mr. Narayanan. "This difficult decision was made after careful consideration, but I am certain that it is the right time for me to try something new."
CI will hold a meeting of unitholders to consider the termination of both Funds to coincide with Mr. Narayanan's exit. The meeting of unitholders will take place on July 29, 2019.
Unitholders of the Funds are encouraged to contact their investment professional to discuss the terminations and their investment options.
A notice and information circular will be sent to each unitholder of the Funds regarding the meeting to fix a termination date in accordance with the declarations of trust of the Funds.
About CI Investments – 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, Canadian-owned wealth management firm with $174.3 billion in fee-earning assets as of May 31, 2019.
SOURCE CI Financial Corp.
For further information: Murray Oxby, Vice-President, Communications, CI Investments, (416) 681-3254, [email protected]