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Tuesday, September 02, 2003

CI Completes 45 Fund Mergers

by: Sean Hanna, Editor in Chief

Toronto-based CI Mutual Funds has finished merging 45 of its mutual funds. The mergers of the funds received the final go-ahead from unitholders during an August 27 meeting.

"These mergers are part of our ongoing process of streamlining our overall lineup and making our funds more efficient to operate, creating savings for their unitholders," said Peter W. Anderson, president and chief executive officer.

The merged funds included 15 investment pools in the Insight Program, CI's fee-based investment solution. To maintain their current fee structure, unitholders of the pools were issued new "Insight units" in the mutual funds.  

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