The Independent Review Committee (IRC) acts as an independent governance body of all CI Global Asset Management ("CI GAM") Funds, providing independent oversight and impartial judgment on conflicts of interest with a view to the best interests of the CI GAM Funds and its investors.

The IRC’s mandate is to consider matters relating to conflicts of interest and recommend what action to take to achieve a fair and reasonable result for the funds in those circumstances, and to review and advise on or consent to, if appropriate, any other matter required by the declaration of trust and by applicable securities laws, regulations and rules. 

The IRC’s mandate is set out in a separate charter and reviewed annually by the IRC members to ensure its mandate conforms to the expectations and requirements of Canadian securities regulators. Along with dealing with conflicts of interest, the mandate provides that the IRC acts as an audit committee for the CI GAM Funds for the purpose of reviewing the financial statements of the CI GAM Funds with the funds’ auditors and reviews holdings, purchases and sales by the CI GAM Funds of securities of CI Financial Corp. 

The IRC also reviews and discusses on a regular basis matters including compliance of the CI GAM Funds with CI GAM's relevant policies and procedures, approval of the CI GAM Funds' auditors and the fees paid to those auditors and the performance of the IRC and its members.

The IRC adheres to the regulations set out by Canadian securities regulators in National Instrument 81-107 Independent Review Committee for Investment Funds, which requires all investment funds in Canada to have independent review committees.

The IRC currently is comprised of five members, each of whom is independent of CI GAM, its affiliates and the CI GAM Funds. Additional information concerning the IRC, including the names of its members, and governance of the funds is available in the annual information form of the funds. 

The IRC members are compensated as recommended by CI GAM and approved by the Committee. 

Review the Independent Review Committee Report  (December 31, 2022).

Review the Independent Review Committee Report  (March 31, 2022).


Karen J. Fisher

Chair of the IRC, Corporate Director,
Member since April 2018

Tom Eisenhauer

Chief Executive Officer of Bonnefield Financial Inc.,  Member since September 2018

James McPhedran

Corporate Director, Member since September 2019

Donna Toth

Corporate Director, Member since April 2020

John Sheedy

Corporate Director, Member since October 2022