December 5, 2022
Please note that a revised version of this press release was issued on December 9, 2022, providing amended estimated annual reinvested capital gains distributions for CI Gold Bullion Fund. The complete, corrected release follows:
Not for dissemination to U.S. Newswire Services or for dissemination
in the United States of America
TORONTO (December 5, 2022) – CI Global Asset Management (“CI GAM”) announces the estimated annual reinvested capital gains distributions (the “Reinvested Distributions”) for the 2022 tax year for the CI ETFs listed below.
Please note that these are estimated amounts as of October 31, 2022 and include certain forward-looking information which may cause the Reinvested Distributions to change before the CI ETFs’ tax year-end on December 15, 2022 and December 31, 2022. These estimated amounts are for the Reinvested Distributions only and do not include the ongoing, regular monthly or quarterly cash distribution amounts, which are expected to be announced in a separate press release in December 2022.
Each of the CI ETFs is required to distribute net income and capital gains earned during the year. The Reinvested Distributions will generally consist of capital gains and/or any excess net income at year end. The Reinvested Distributions will not be paid in cash but will be reinvested and the resulting units immediately consolidated so that the number of units held by each investor will not change. Investors holding units outside registered plans will have taxable amounts to report and will have an increase in the adjusted cost base of their investment. In all cases, these distributions will be reinvested on or about December 30, 2022 to unitholders of record on December 29, 2022.
CI GAM expects to announce the final, confirmed Reinvested Distribution amounts (subject to any further revisions to per unit amounts resulting from subscription and redemption activity prior to the record date) on or about December 30, 2022. The actual taxable amounts of all distributions for 2022, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or “CDS”) and will be posted on www.ci.com in early 2023.
CI GAM provides estimated distributions for information purposes only. These estimates are not intended to be, nor should they construed to be, legal or tax advice to any particular person.
Capital Gain Distributions
per Fund Unit as at
October 31, 2022
CI Galaxy Bitcoin ETF
CI 1-5 Year Laddered Government Strip Bond Index ETF
CI Yield Enhanced Canada Aggregate Bond Index ETF
CI Yield Enhanced Canada Short-Term Aggregate Bond Index ETF
CI Galaxy Blockchain ETF
CI Digital Security ETF
CI Canadian Equity Index ETF
CI Auspice Broad Commodity ETF
CI DoubleLine Core Plus Fixed Income US$ Fund (ETF Series)
CI DoubleLine Total Return Bond US$ Fund (ETF Series)
CI Bio-Revolution ETF
CI MSCI World ESG Impact ETF
CI Floating Rate Income Fund (ETF Series)
CI Global Asset Allocation Private Pool (ETF Series)
CI Global Bond Currency Neutral Fund (ETF Series)
CI Global High Yield Credit Private Pool (ETF Series)
CI Global Investment Grade ETF
CI Global Real Asset Private Pool (ETF Series)
CI Global Green Bond Fund (ETF Series)
CI Global REIT Private Pool (ETF Series)
CI Global Sustainable Infrastructure Fund (ETF Series)
CI Gold+ Giants Covered Call ETF
CI Global Healthcare Leaders Index ETF
CI ICBCCS S&P China 500 Index ETF
CI Emerging Markets Alpha ETF
CI DoubleLine Income US$ Fund (ETF Series)
CI Global Infrastructure Private Pool (ETF Series)
CI Global Alpha Innovation ETF
CI Global Climate Leaders Fund (ETF Series)
CI Munro Alternative Global Growth Fund (ETF Series)
CI Marret Alternative Absolute Return Bond Fund (ETF Series)
CI Galaxy Multi-Crypto ETF
CI Alternative Diversified Opportunities Fund (ETF Series)
CI Marret Alternative Enhanced Yield Fund (ETF Series)
CI Munro Global Growth Equity Fund (ETF Series)
CI Galaxy Metaverse ETF
CI Alternative North American Opportunities Fund (ETF Series)
CI Alternative Investment Grade Credit Fund (ETF Series)
CI High Interest Savings ETF
CI U.S. Treasury Inflation-linked Bond Index ETF (CAD Hedged)
CI U.S. 500 Index ETF
CI U.S. 1000 Index ETF
CI Canadian Convertible Bond ETF
CI WisdomTree U.S. Quality Dividend Growth Index ETF
CI WisdomTree Canada Quality Dividend Growth Index ETF
CI WisdomTree U.S. Quality Dividend Growth Variably Hedged Index ETF
CI WisdomTree International Quality Dividend Growth Variably Hedged Index ETF
CI WisdomTree Europe Hedged Equity Index ETF
CI WisdomTree Emerging Markets Dividend Index ETF
CI Galaxy Ethereum ETF
CI Enhanced Government Bond ETF
CI Health Care Giants Covered Call ETF
CI Investment Grade Bond ETF
CI U.S. & Canada Lifeco Covered Call ETF
CI Preferred Share ETF
CI Enhanced Short Duration Bond Fund (ETF Series)
CI Global Financial Sector ETF
CI Morningstar Canada Value Index ETF
CI WisdomTree International Quality Dividend Growth Index ETF
CI WisdomTree Japan Equity Index ETF
CI Global Longevity Economy Fund (ETF Series)
CI Energy Giants Covered Call ETF
CI ONE North American Core Plus Bond ETF
CI ONE Global Equity ETF
CI Morningstar National Bank Québec Index ETF
CI Canadian REIT ETF
CI MSCI Europe Low Risk Weighted ETF
CI MSCI World Low Risk Weighted ETF
CI MSCI International Low Risk Weighted ETF
CI U.S. TrendLeaders Index ETF
CI Tech Giants Covered Call ETF
CI WisdomTree U.S. MidCap Dividend Index ETF
CI Gold Bullion Fund
CI Morningstar International Value Index ETF
CI Morningstar Canada Momentum Index ETF
CI Morningstar US Value Index ETF
CI Morningstar US Momentum Index ETF
CI Morningstar International Momentum Index ETF
CORPORATE CLASS ETFs
CI Canadian Banks Covered Call Income Class ETF
CI Short Term Government Bond Index Class ETF
CI MSCI Canada Quality Index Class ETF
Note 1 – The Corporate Class ETFs have a tax year end of December 31, but none of the Corporate Class ETFs currently anticipate a reinvested distribution for 2022.
This press release contains forward-looking statements with respect to the estimated Reinvested Distributions for the CI ETFs. By their nature, these forward-looking statements involve certain risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual Reinvested Distributions to differ from the estimated Reinvested Distributions between now and the CI ETFs’ tax year-ends include, without limitation: the actual amounts of distributions received by the CI ETFs; the actual amount of capital gains generated from sales of securities; and subscription and redemption activity in the CI ETFs.
About CI Global Asset Management
CI Global Asset Management 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 Global Asset Management is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an integrated global asset and wealth management company with approximately $364.3 billion in assets as of October 31, 2022.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.
Commissions, management fees and expenses all may be associated with an investment in ETFs. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund (ETF) is contained in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.
This document contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Financial Corp. (“CI”) and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that all announced transactions will be completed and that assets levels do not decline prior to completion, the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI’s disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.
CI Global Asset Management is a registered business name of CI Investments Inc.
©CI Investments Inc. 2022. All rights reserved.
Vice-President, Corporate Communications
CI Global Asset Management