CI Global Asset Management Announces Confirmed Distribution and Final Valuation for Terminated CI First Asset ETF

Rhea-AI Summary

CI Global Asset Management has announced the termination of the CI First Asset Long Duration Fixed Income ETF, effective immediately. The Fund's units were delisted from the Toronto Stock Exchange on April 21, 2021. Unitholders will receive a confirmed income distribution of $0.0363 per unit on April 26, 2021, alongside the liquidation proceeds. The Fund's final net asset value of $19.7677 per unit will also be distributed without additional action required from holders.

Positive

• Unitholders will receive a cash distribution of $0.0363 per unit.
• The final net asset value of $19.7677 per unit will be distributed to holders.

Negative

• The termination of the ETF may indicate a reduction in investment options for investors.
• Delisting from the Toronto Stock Exchange reflects a negative trend for the Fund.

Further to its announcement on April 15, 2021, CI Global Asset Management (CI GAM) announces that CI First Asset Long Duration Fixed Income ETF (the “Fund”) was terminated effective today. The units of the Fund were delisted from the Toronto Stock Exchange on April 21, 2021, where it had traded under the ticker FLB.

The confirmed income distribution of $0.0363 per unit will be paid in cash on April 26, 2021 to unitholders of record as of April 21, 2021 along with the proceeds from the liquidation of assets, less all liabilities and expenses incurred in connection with the dissolution.

The Fund’s final net asset value of $19.7677 per unit will be distributed to holders on or about April 26, 2021, without any further action required by those holders.

About CI Global Asset Management

CI Global Asset Management 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 Global Asset Management is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with $240.6 billion in total assets as of March 31, 2021.

This document 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. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Market conditions may change which may impact the information contained in this document. All charts and illustrations in this document are for illustrative purposes only. They are not intended to predict or project investment results. 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 Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2021. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210422006117/en/

FAQ

What is the reason for the termination of the CI First Asset Long Duration Fixed Income ETF (FLB)?

The CI First Asset Long Duration Fixed Income ETF was terminated as announced by CI Global Asset Management.

When will unitholders receive their final distribution for the CI First Asset Long Duration Fixed Income ETF?

Unitholders will receive their final distribution on April 26, 2021.

What was the final net asset value per unit for the terminated CI First Asset Long Duration Fixed Income ETF?

The final net asset value was $19.7677 per unit.

When were the units of the CI First Asset Long Duration Fixed Income ETF delisted from the Toronto Stock Exchange?

The units were delisted on April 21, 2021.

What will happen to the assets of the CI First Asset Long Duration Fixed Income ETF after termination?

The proceeds from the liquidation of assets will be distributed to unitholders.