CI to merge funds

Investment Executive - - FOCUS ON PRODUCTS - Com­piled by Fiona Col­lie (fcol­lie@in­vest­mentex­ec­u­tive.com).

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.

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