December 7, 2020
NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
TORONTO (December 7, 2020) – CI Global Asset Management (“CI GAM”) announces the estimated annual reinvested capital gains distributions (the “Reinvested Distributions”) for the 2020 tax year for the CI ETFs listed below. Please note that these are estimated amounts as of November 13, 2020 and include certain forward-looking information which may cause the Reinvested Distributions to change before the CI ETFs’ tax year-end on December 15, 2020 and December 31, 2020 depending on whether the ETF is a Trust or is part of CI First Asset Fund Corp., respectively. 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 2020.
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. Other than in respect of CI First Asset High Interest Savings ETF, 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, other than CI First Asset High Interest Savings ETF, these distributions will be reinvested on or about December 31, 2020 to unitholders of record on December 30, 2020. With respect to CI First Asset High Interest Savings ETF, the Reinvested Distribution will distribute interest accrued between December 23, 2020 and December 31, 2020 and will be paid in cash on or about January 7, 2021 to unitholders of record on December 31, 2020. The ex-dividend date in each case is December 29, 2020, with the exception of CI First Asset High Interest Savings ETF which has an ex-dividend date of December 31, 2020.
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 31, 2020. The actual taxable amounts of all distributions for 2020, 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.firstasset.com in early 2021.
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.
|Fund Name||Trading Symbol||Estimated Capital Gain Distributions per Fund Unit as at November 13, 2020|
|CI First Asset Morningstar Canada Momentum Index ETF||WXM||$0.03|
|CI First Asset Morningstar National Bank Québec Index ETF||QXM||$0.05|
|CI First Asset Morningstar International Momentum Index ETF||ZXM||$0.00|
|CI First Asset Morningstar US Dividend Target 50 Index ETF||UXM||$0.00|
|CI First Asset MSCI Europe Low Risk Weighted ETF||RWE||$0.00|
|CI First Asset MSCI USA Low Risk Weighted ETF||RWU||$0.01|
|CI First Asset MSCI World Low Risk Weighted ETF||RWW||$0.00|
|CI First Asset European Bank ETF||FHB||$0.00|
|CI First Asset Preferred Share ETF||FPR||$0.05|
|CI First Asset MSCI International Low Risk Weighted ETF||RWX||$0.12|
|CI First Asset Morningstar US Momentum Index ETF||YXM||$0.02|
|CI First Asset Enhanced Government Bond ETF||FGO||$0.27|
|CI First Asset U.S. Buyback Index ETF||FBU||$0.11|
|CI First Asset Global Financial Sector ETF||FSF||$0.00|
|CI Global Asset Allocation Private Pool (ETF Series)||CGAA||$0.12|
|CI First Asset Morningstar Canada Dividend Target 30 Index ETF||DXM||$0.00|
|CI First Asset Long Duration Fixed Income ETF||FLB||$0.69|
|CI First Asset High Interest Savings ETF||CSAV||$0.00|
|CI First Asset Morningstar Canada Value Index ETF||FXM||$0.03|
|CI First Asset MSCI Canada Low Risk Weighted ETF||RWC||$0.01|
|CI First Asset U.S. TrendLeaders Index ETF||SID||$0.00|
|CI First Asset Energy Giants Covered Call ETF||NXF||$0.00|
|CI First Asset Health Care Giants Covered Call ETF||FHI||$0.01|
|CI First Asset Tech Giants Covered Call ETF||TXF||$0.00|
|CI First Asset 1-5 Year Laddered Government Strip Bond Index ETF||BXF||$0.00|
|CI First Asset Active Canadian Dividend ETF||FDV||$0.38|
|CI First Asset Canadian Convertible Bond ETF||CXF||$0.09|
|CI First Asset U.S. & Canada Lifeco Income ETF||FLI||$0.00|
|CI First Asset Active Utility & Infrastructure ETF||FAI||$0.02|
|CI First Asset Active Credit ETF||FAO||$0.00|
|CI First Asset Canadian Buyback Index ETF||FBE||$0.00|
|CI First Asset Investment Grade Bond ETF||FIG||$0.00|
|CI First Asset Enhanced Short Duration Bond Fund (ETF Series)||FSB||$0.01|
|CI First Asset Gold+ Giants Covered Call ETF||CGXF||$0.00|
|CI First Asset Canadian REIT ETF||RIT||$0.00|
|CI First Asset Morningstar International Value Index ETF||VXM||$0.03|
|CI First Asset Morningstar US Value Index ETF||XXM||$0.06|
|CI First Asset MSCI World ESG Impact ETF||CESG||$1.41|
|CI Lawrence Park Alternative Investment Grade Credit ETF||CRED||$0.00|
|CI Marret Alternative Absolute Return Bond ETF||CMAR||$0.33|
|CI Munro Alternative Global Growth ETF||CMAG||$0.00|
|CI Marret Alternative Enhanced Yield Fund (ETF Series)||CMEY||$0.00|
|CI Global REIT Private Pool (ETF Series)||CGRE||$0.00|
|CI Global Infrastructure Private Pool (ETF Series)||CINF||$0.00|
|CI Global Real Asset Private Pool (ETF Series)||CGRA||$0.05|
|CI DoubleLine Core Plus Fixed Income US$ Fund (ETF Series)||CCOR||$0.00|
|CI DoubleLine Income US$ Fund (ETF Series)||CINC||$0.23|
|CI DoubleLine Total Return Bond US$ Fund (ETF Series)||CDLB||$0.02|
|CI Global Longevity Economy Fund (ETF Series)||LONG||$0.31|
|CI Yield Enhanced Canada Aggregate Bond Index ETF||CAGG||$1.03|
|CI Yield Enhanced Canada Short-Term Aggregate Bond Index ETF||CAGS||$0.05|
|CI ONE North American Core Plus Bond ETF||ONEB||$0.18|
|CI WisdomTree Emerging Markets Dividend Index ETF||EMV.B||$0.00|
|CI WisdomTree Canada Quality Dividend Growth Index ETF||DGRC||$0.11|
|CI WisdomTree Europe Hedged Equity Index ETF||EHE||$0.25|
|CI WisdomTree U.S. Quality Dividend Growth Index ETF||DGR||$0.31|
|CI WisdomTree International Quality Dividend Growth Index ETF||IQD||$0.02|
|CI WisdomTree U.S. Quality Dividend Growth Variably Hedged Index ETF||DQD||$0.05|
|CI WisdomTree International Quality Dividend Growth Variably Hedged Index ETF||DQI||$0.03|
|CI WisdomTree U.S. MidCap Dividend Index ETF||UMI||$0.04|
|CI WisdomTree Japan Equity Index ETF||JAPN||$0.01|
|CI ICBCCS S&P China 500 Index ETF||CHNA.B||$0.00|
|CI ONE Global Equity ETF||ONEQ||$0.06|
|CORPORATE CLASS ETFs||Note 1|
|CI First Asset CanBanc Income Class ETF||CIC||$0.00|
|CI First Asset Core Canadian Equity Income Class ETF||CSY||$0.00|
|CI First Asset Short Term Government Bond Index Class ETF||FGB||$0.00|
|CI First Asset MSCI Canada Quality Index Class ETF||FQC||$0.00|
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 2020.
This press release contains forward-looking statements with respect to the estimated Special 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 Special Distributions to differ from the estimated Special 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 GAM is a subsidiary of CI Financial Corp. (TSX: CIX) (NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with $202.4 billion in total assets as of October 31, 2020.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange-traded funds (ETFs) 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.
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.
The forward-looking statements are not historical facts but reflect the current expectations of CI GAM regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. CI GAM believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, CI GAM can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. CI GAM undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.
CI Global Asset Management is a registered business name of CI Investments Inc.
©CI Investments Inc. 2020. All rights reserved.
CI Global Asset Management
Vice-President, Corporate Communications
CI Global Asset Management