TSX Symbol: CIX
TORONTO, June 30, 2015 /CNW/ - CI Investments Inc. ("CI") announced today that fund unitholder meetings set for July 3, 2015 have been rescheduled to September 18, 2015. The meetings have been called to consider a proposal to merge certain funds.
As previously announced on May 4, 2015, CI is proposing the merger of CI U.S. Equity Plus Fund into Cambridge American Equity Corporate Class, and Signature Diversified Yield Fund into Signature Diversified Yield II Fund. Under the revised timeline, an information circular and proxy form will be mailed to unitholders in August and, pending unitholder and regulatory approval, the mergers will take place on or about September 25, 2015.
In addition, the planned merger of CI Alpine Growth Equity Fund into CI Canadian Small/Mid Cap Fund will be rescheduled, and will take place on or about September 25, 2015. That merger does not require unitholder or regulatory approval.
Subject to the required approvals, CI U.S. Equity Plus Fund, Signature Diversified Yield Fund and CI Alpine Growth Equity Fund will be terminated, and their investors will become securityholders of the respective continuing funds. 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 $142.5 billion in assets as of May 31, 2015.
SOURCE CI Financial Corp.
For further information: Murray Oxby, Director, Communications, (416) 681-3254, [email protected]