CI to merge funds
Toronto-based CI Investments Inc. has announced plans to merge 12 mutual funds in an effort to reduce duplication and to streamline its lineup. Signature High Yield Bond Fund will merge with Signature High Yield Bond II Fund. Synergy Tactical Asset Allocation Fund will merge with Signature Income and Growth Fund. The remaining eight proposed mergers require unitholders’ approval, which CI will seek at a meeting on Oct. 26. Pending unitholders’ approvals, all of the mergers are expected to take place at the close of business on or about Nov. 3. For full details, visit www.ci.com.