United Financial completes fund mergers

    TORONTO, May 26 /CNW/ - United Financial Corporation, the manager of the
United Funds, announced today that it has completed the mergers of six funds.
The mergers were approved by securityholders in meetings held on May 22, 2009.
    Each of the United Diversified Funds (which had been comprised of a
combination of a value mandate and a growth mandate) was merged with its
corresponding United Value Fund and United Growth Fund, as shown:

    Terminating fund                  Continuing funds
    Canadian Equity Diversified Pool  Canadian Equity Value Pool and Canadian
                                       Equity Growth Pool
    Canadian Equity Diversified       Canadian Equity Value Corporate Class
     Corporate Class                   and Canadian Equity Growth Corporate
    US Equity Diversified Pool        US Equity Value Pool and US Equity
                                       Growth Pool
    US Equity Diversified Corporate   US Equity Value Corporate Class and US
     Class                             Equity Growth Corporate Class
    International Equity Diversified  International Equity Value Pool and
     Pool                              International Equity Growth Pool
    International Equity Diversified  International Equity Value Corporate
     Corporate Class                   Class and International Equity Growth
                                       Corporate Class

    In each merger, assets of the United Diversified Fund were sold in return
for units or shares (as applicable) of the United Value Fund and United Growth
Fund. The United Diversified Fund was then terminated and each investor's
units or shares of the United Diversified Fund were replaced with a
proportionate number of units or shares of both the United Value Fund and the
United Growth Fund.
    The mergers streamline and simplify United Financial's lineup while
putting investors into pools with more precise investment mandates than the
blended mandates of the diversified funds. At the same time, the mergers do
not change investors' overall market exposure or reduce their ability to build
a diversified portfolio, according to their preferences, using the United
    As previously announced, CI Global Holdings Inc., which carries on
business as Cambridge Advisors and is a subsidiary of CI Investments Inc., was
appointed portfolio manager of a portion of International Equity Growth Pool
and International Equity Growth Corporate Class, effective May 22. The
remainder will continue to be managed by Picton Mahoney Asset Management.
Cambridge Advisors, based in Boston, is led by Alan Radlo, Senior
Vice-President, Portfolio Management, who has more than 25 years of experience
in managing Canadian, U.S. and global large and small-cap equity portfolios.

    About United Financial

    United Financial Corporation is a Canadian investment management and
wealth planning firm. It provides customized managed portfolio solutions for
individuals, families and businesses through the Artisan Portfolios,
Institutional Managed Portfolios, Evolution Private Managed Accounts, Optima
Strategy, and Private Client Managed Portfolios programs distributed through
advisors with Assante Wealth Management. United Financial is on the Web at
    United Financial is wholly owned by CI Financial Corp. (TSX: CIX), an
independent, Canadian-owned wealth management firm with approximately $82
billion in fee-earning assets as of April 30, 2009. CI Financial is on the Web
at www.ci.com/cix.

For further information:

For further information: Steven J. Donald, President and Chief Operating
Officer, United Financial Corporation, (416) 644-5650

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