CI Investments provides update on fund mergers

TORONTO, July 20, 2020 /CNW/ - CI Investments Inc. ("CI") today provided an update on several previously announced investment fund mergers.

• The merger of CI First Asset Global Asset Allocation ETF (the "terminating ETF") into CI Global Asset Allocation Private Pool (the "continuing fund") has been completed. The continuing fund now offers both mutual fund and ETF series.
• The merger of CI High Interest Savings Fund into CI First Asset High Interest Savings ETF will not proceed, nor will the previously announced name change for CI First Asset High Interest Savings ETF.
• The merger of CI First Asset MSCI World ESG Impact ETF into CI MSCI World ESG Impact Fund will not proceed.

No action is required by investors in the investment funds as a result of these developments.

In connection with the completed CI Global Asset Allocation merger, each holder of common units of the terminating ETF received one ETF C$ Series unit of the continuing fund for each common unit of the terminating ETF held. As a result, as of today, 752,392 ETF C$ Series units (with an aggregate net asset value of $15,874,898.01) of CI Global Asset Allocation Private Pool will be listed on the Toronto Stock Exchange ("TSX") and commence trading under the stock symbol CGAA, which is the stock symbol previously used by the common units of the terminating ETF. The pool also continues to offer mutual fund Series A, F and I. There were no taxable dispositions or distributions as a result of the merger.

Following the cancelled merger of CI First Asset MSCI World ESG Impact ETF into CI MSCI World ESG Impact Fund, the common units and unhedged common units of CI First Asset MSCI World ESG Impact ETF continue to trade on NEO Exchange Inc. under the stock symbols CESG and CESG.B, respectively.

The Class A, E, F, I, O and P units of CI High Interest Savings Fund continue to be available for purchase by investors while the common units of CI First Asset High Interest Savings ETF continue to trade on the TSX under the stock symbol CSAV.

For more information about CI and its funds and ETFs, please visit its website.

About CI Investments
CI Investments 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 is a subsidiary of CI Financial Corp. (TSX: CIX), an independent company offering global asset management and wealth management advisory services with approximately $179.2 billion in fee-earning assets as at June 30, 2020.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds, including exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about the mutual funds is contained in its respective prospectus. Mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell exchange-traded units of a fund 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 fund and may receive less than the current net asset value when selling them.

This communication 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. 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.

CI Investments and the CI Investments design are registered trademarks of CI Investments Inc. ©CI Investments Inc. 2020. All rights reserved.

SOURCE CI Investments Inc.

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