TORONTO, July 31, 2019 /CNW/ - CI Investments ("CI") is pleased to announce the launch of CI High Interest Savings Fund (the "Fund"), a mutual fund designed to maximize monthly income for unitholders while preserving capital and liquidity. The Fund will invest in units of the recently launched CI First Asset High Interest Savings ETF (TSX: CSAV) (the "ETF"), which invests primarily in high interest deposit accounts.
"A well-diversified portfolio includes a cash component that provides liquidity and convenience," said Rohit Mehta, President of CI First Asset Exchange Traded Funds, a division of CI Investments Inc. "The positive reception we've had regarding the ETF is encouraging and confirms that there is demand for this type of product in many Canadians' portfolios."
The potential benefits of CI High Interest Savings Fund include:
- Greater earnings potential on cash balances – The Fund, via investment in ETF units, provides exposure to high interest savings accounts with an attractive yield of approximately 2.10%, offering unitholders a compelling alternative to holding cash directly
- Low cost – The management fee of both the ETF and Class F mutual fund is only 0.14%
- Liquidity – Easy access to cash and no short-term trading restrictions mean investors have efficient access to their cash savings.
The launch of the Fund follows the ETF launch on June 18, 2019. They share an identical mandate and investment objective. For more information please visit our website.
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 $177 billion in assets as of June 30, 2019.
About CI First Asset Exchange Traded Funds
CI First Asset Exchange Traded Funds, a division of CI Investments Inc., is a leading provider of exchange-traded funds (ETFs) in Canada offering a comprehensive suite of ETF solutions. Rooted in strong fundamentals, the diverse and specialized lineup of CI First Asset ETFs strive to deliver better risk-adjusted returns than the broad market, while helping investors achieve their personal financial goals.
Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments, including investments in ETFs. Please read the prospectus before investing. Mutual funds, including ETFs, are not guaranteed, their values change frequently and past performance may not be repeated.
CI Investments and the CI Investments design are registered trademarks of CI Investments Inc. CI First Asset is a trademark of CI Investments Inc. ©CI Investments Inc. 2019. All rights reserved.
SOURCE CI Financial Corp.
For further information: Murray Oxby, Vice-President, Communications, CI Investments Inc., (416) 681-3254, [email protected]