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CI Global Asset Management Launches Money Market ETFs

T.CIX | July 25, 2023

New ETFs include Canadian and U.S. dollar mandates

CI Global Asset Management(“CI GAM”) announces the launch of two money market ETFs, the latest step in a series of enhancements to its money market lineup. CI Money Market ETF and CI U.S. Money Market ETF (the “ETFs”) begin trading today on the Toronto Stock Exchange (“TSX”) under the ticker symbols CMNY and UMNY.U, respectively.

“These new mandates present ETF investors with highly competitive options for their cash investments, with a choice of Canadian and U.S. dollar versions and a management fee of 0.14%,” said Jennifer Sinopoli, Executive Vice-President and Head of Distribution for CI GAM.

“This launch is also timely, as investors can benefit from increasingly attractive yields on money market instruments, as well as maintaining liquidity and preserving capital in a dynamic and uncertain market environment.”

The investment objective of the ETFs is to earn income at the highest rate of return that is consistent with preserving capital and maintaining liquidity. CMNY will invest primarily in money market instruments that mature in less than 365 days, while UMNY.U will invest primarily in money market instruments denominated in U.S. dollars that mature in less than 365 days.

The introduction of CMNY and UMNY.U follow a series of changes CI GAM announced earlier this month to simplify and enhance its suite of money market funds. The changes included significant reductions in the management fees charged to CI Money Market Class, CI Money Market Fund, CI U.S. Money Market Fund, CI Money Market Corporate Class and CI U.S. Money Market Corporate Class. The fees were reduced to 0.14% for Series F and Series P and to 0.39% for Series A.

CI GAM’s strengthened money market lineup is a strong complement to the firm’s other cash investments, which include CI High Interest Savings ETF (TSX: CSAV) and CI High Interest Savings Fund.

“The launch of CMNY and UMNY.U demonstrates our commitment to provide a comprehensive lineup of ETFs meeting the diverse needs and interests of Canadian investors,” Ms. Sinopoli said.

CI GAM has approximately $19 billion in assets under management in ETFs (as at June 30, 2023), making it Canada’s fifth-largest ETF provider. CI GAM’s ETF lineup consists of more than 130 mandates and includes beta, smart beta, asset allocation, managed volatility, actively managed, liquid alternatives, digital assets, covered calls, ESG and other thematic mandates.

About CI Global Asset Management

CI Global Asset Management (“CI GAM”) 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), an integrated global asset and wealth management company with approximately $398.9 billion in assets as at June 30, 2023.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. In case of Money Market Funds note that mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs 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 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.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds 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. 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. These investments may not be suitable to the circumstances of an investor.

The CI Exchange-Traded Funds are managed by CI Global Asset Management, a wholly owned subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc.