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July 27, 2021

CI Global Asset Management Announces Risk Rating Changes, Fund Name Changes and the Completion of Two Fund Mergers

TORONTO (July 27, 2021) – CI Global Asset Management (“CI GAM”) today announced risk rating and name changes to certain investment funds, and confirmed the completion of two fund mergers.

 

Risk rating changes

 

The following risk rating changes are effective immediately and are based on the risk classification methodology mandated by the Canadian Securities Administrators to determine the risk level of mutual funds. CI GAM reviews the risk rating for each of the funds it manages at least on an annual basis, as well as when a fund undergoes a material change. These changes are the result of an annual review and are not the result of any changes to the investment objectives, strategies or management of the funds.

 

CI Funds

New risk rating

Previous risk rating

Cambridge Canadian Dividend Corporate Class (to be renamed CI Canadian Dividend Corporate Class)

Medium

Low-to-Medium

Cambridge Canadian Dividend Fund (to be renamed CI Canadian Dividend Fund)

Medium

Low-to-Medium

Assante Private Pools (formerly United Funds)

Enhanced Income Pool (to be renamed Global Income Allocation Pool)

Low

Low-to-Medium

Enhanced Income Corporate Class (to be renamed Global Income Allocation Corporate Class)

Low

Low-to-Medium

Canadian Equity Alpha Pool

Medium

Low-to-Medium

Canadian Equity Alpha Corporate Class

Medium

Low-to-Medium

US Equity Small Cap Corporate Class

Medium-to-High

Medium

US Equity Small Cap Pool

Medium-to-High

Medium

 

Name changes

 

As announced on June 24, 2021, CI GAM is rebranding many of its funds as part of a strategic initiative to modernize its business and product lineup. The changes follow CI GAM’s integration of its in-house investment boutiques into a single investment team operating under the CI Global Asset Management name. With the fund name changes, the legacy boutique brands will be retired and the funds will be unified under the CI brand. CI GAM is making other changes so that fund names better reflect their investment mandates.

 

In addition to the changes announced previously, CI GAM is making the following name changes effective July 29, 2021:

 

Current name

New name

Enhanced Income Corporate Class

Global Income Allocation Corporate Class

Enhanced Income Pool

Global Income Allocation Pool

CI Global High Dividend Advantage Corporate Class

CI Global Quality Dividend Managed Corporate Class

CI Global High Dividend Advantage Fund

CI Global Quality Dividend Managed Fund

 

Additionally, the names of seven funds have been revised from what was previously announced. The following name changes were effective June 25, 2021, with the exception of Sentry U.S. Growth and Income Corporate Class, which will be changed effective July 29, 2021:

 

Previous name

New name

Sentry U.S. Equity Income Currency Neutral Private Pool Class

CI U.S. Equity Currency Neutral Private Pool Class

Sentry U.S. Equity Income Private Pool Class

CI U.S. Equity Private Pool Class

Sentry U.S. Equity Income Private Trust

CI U.S. Equity Private Trust

Sentry U.S. Growth and Income Class

CI U.S. Equity Class

Sentry U.S. Growth and Income Corporate Class

CI U.S. Equity Corporate Class

Sentry U.S. Growth and Income Currency Neutral Class

CI U.S. Equity Currency Neutral Class

Sentry U.S. Growth and Income Fund

CI U.S. Equity Fund

 

Fund mergers completed

 

Following the receipt of the required securityholder and regulatory approvals, as applicable, the previously announced mergers of Cambridge Monthly Income Corporate Class and Cambridge Monthly Income Fund into Cambridge Global High Income Fund (each, a “Merger”, and collectively, the “Mergers”) were completed after the close of business on July 23, 2021. As a result, Cambridge Monthly Income Fund and Cambridge Monthly Income Corporate Class have been terminated.

 

Securityholders of each of Cambridge Monthly Income Fund and Cambridge Monthly Income Corporate Class have received the equivalent dollar value of securities in the corresponding series of Cambridge Global High Income Fund as at July 23, 2021.

 

The Merger of Cambridge Monthly Income Fund into Cambridge Global High Income Fund was effected on a tax-deferred basis. The Merger of Cambridge Monthly Income Corporate Class into Cambridge Global High Income Fund was effected on a taxable basis; however, Cambridge Monthly Income Corporate Class did not pay a dividend as result of the merger.

 

Cambridge Global High Income Fund is being renamed CI Global Equity & Income Fund effective July 29, 2021.

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 approximately $304 billion in total assets as at June 30, 2021.

 

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.

 

This document is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. 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.

 

Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management believes to be reasonable assumptions, CI Global Asset Management cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

 

CI Global Asset Management is a registered business name of CI Investments Inc. ©CI Investments Inc. 2021. All rights reserved.

 

Contact

Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
[email protected]