TSX Symbol: CIX
TORONTO, July 30, 2013 /CNW/ - CI Investments Inc. ("CI") today announced that it has completed the merger of two funds and the change of investment objectives for three others.
The following mergers have been completed:
|Terminating fund||Continuing fund|
|Cambridge Canadian Stock Fund||Cambridge Canadian Equity Corporate Class|
|CI Japanese Corporate Class||CI Pacific Corporate Class|
The investment objectives of three funds have been changed from a Canadian-focused mandate to a global mandate: Cambridge High Income Fund, Signature Canadian Resource Fund and Signature Canadian Resource Corporate Class.
The mergers and mandate changes were approved by securityholders in the funds at meetings held last week.
CI will not be proceeding with the proposed merger of CI US Equity Plus Fund into Cambridge American Equity Corporate Class. Instead, CI has closed CI US Equity Plus Fund to all investments, as of the close of business on July 26, 2013.
Effective August 2, 2013, Cambridge Global Asset Management will become portfolio advisor to CI US Equity Plus Fund. Cambridge manages similar U.S. equity mandates as part of its family of funds, which total over $7 billion in assets. Cambridge is led by Chief Investment Officer Alan Radlo and Portfolio Managers Robert Swanson and Brandon Snow and has achieved strong results with the Cambridge funds since its founding in January 2008.
In addition, the following name changes are now effective:
|Former Name||New Name|
|Harbour Foreign Equity Corporate Class||Harbour Global Equity Corporate Class|
| Harbour Foreign Growth & Income Corporate
| Harbour Global Growth & Income Corporate
|Signature Canadian Resource Fund||Signature Global Resource Fund|
|Signature Canadian Resource Corporate Class||Signature Global Resource Corporate Class|
| Clarica SF CI Signature Canadian Resource
|Clarica SF CI Signature Global Resource Fund|
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 $106 billion in assets as of June 30, 2013.
SOURCE: CI Investments Inc.
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