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CORRECTING and REPLACING CI Global Asset Management Announces Estimated Annual Reinvested Capital Gains Distributions for CI ETFs

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CI Global Asset Management has issued a corrected announcement regarding the estimated annual reinvested capital gains distributions for CI ETFs for the 2022 tax year. The updated figures, reflecting changes since October 31, 2022, are set to impact investors in the CI Gold Bullion Fund. This revision comes due to amendments aimed at providing more accurate financial information. Investors are advised to be aware of these updates as they could influence future financial planning and tax obligations.

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  • Correction of estimated annual reinvested capital gains distributions provides clarity for investors.
  • Transparency in financial reporting enhances trust among stakeholders.
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  • Adjustments to estimated capital gains distributions may indicate volatility or uncertainty in fund performance.

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO--(BUSINESS WIRE)-- Please replace the release dated December 5, 2022 with the following corrected version due to amendments to the estimated annual reinvested capital gains for CI Gold Bullion Fund.

The updated release reads:

CI GLOBAL ASSET MANAGEMENT ANNOUNCES ESTIMATED ANNUAL REINVESTED CAPITAL GAINS DISTRIBUTIONS FOR CI ETFS

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

CI Global Asset Management (“CI GAM”) announces the estimated annual reinvested capital gains distributions (the “Reinvested Distributions”) for the 2022 tax year for the CI ETFs listed below.

Please note that these are estimated amounts as of October 31, 2022 and include certain forward-looking information which may cause the Reinvested Distributions to change before the CI ETFs’ tax year-end on December 15, 2022 and December 31, 2022. These estimated amounts are for the Reinvested Distributions only and do not include the ongoing, regular monthly or quarterly cash distribution amounts, which are expected to be announced in a separate press release in December 2022.

Each of the CI ETFs is required to distribute net income and capital gains earned during the year. The Reinvested Distributions will generally consist of capital gains and/or any excess net income at year end. The Reinvested Distributions will not be paid in cash but will be reinvested and the resulting units immediately consolidated so that the number of units held by each investor will not change. Investors holding units outside registered plans will have taxable amounts to report and will have an increase in the adjusted cost base of their investment. In all cases, these distributions will be reinvested on or about December 30, 2022 to unitholders of record on December 29, 2022.

CI GAM expects to announce the final, confirmed Reinvested Distribution amounts (subject to any further revisions to per unit amounts resulting from subscription and redemption activity prior to the record date) on or about December 30, 2022. The actual taxable amounts of all distributions for 2022, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or “CDS”) and will be posted on www.ci.com in early 2023.

CI GAM provides estimated distributions for information purposes only. These estimates are not intended to be, nor should they construed to be, legal or tax advice to any particular person.

Fund Name

 

Trading Symbol

Estimated

Capital Gain Distributions

per Fund Unit as at

October 31, 2022

CI Galaxy Bitcoin ETF

BTCX.B

$

0.0000

BTCX.U

$

0.0000 (US$)

CI 1-5 Year Laddered Government Strip Bond Index ETF

BXF

$

0.0069

CI Yield Enhanced Canada Aggregate Bond Index ETF

CAGG

$

0.2110

CI Yield Enhanced Canada Short-Term Aggregate Bond Index ETF

CAGS

$

0.2056

CI Galaxy Blockchain ETF

CBCX

$

0.0000

CI Digital Security ETF

CBUG

$

0.0052

CI Canadian Equity Index ETF

CCDN

$

0.1386

CI Auspice Broad Commodity ETF

CCOM

$

0.0000

CI DoubleLine Core Plus Fixed Income US$ Fund (ETF Series)

CCOR

$

0.0194

CCOR.B

$

0.0190

CCOR.U

$

0.0266 (US$)

CI DoubleLine Total Return Bond US$ Fund (ETF Series)

CDLB

$

0.0382

CDLB.B

$

0.0408

CDLB.U

$

0.0520 (US$)

CI Bio-Revolution ETF

CDNA

$

0.0241

CI MSCI World ESG Impact ETF

CESG

$

0.0529

CESG.B

$

0.0000

CI Floating Rate Income Fund (ETF Series)

CFRT

$

0.0589

CI Global Asset Allocation Private Pool (ETF Series)

CGAA

$

0.0212

CI Global Bond Currency Neutral Fund (ETF Series)

CGBN

$

0.0000

CI Global High Yield Credit Private Pool (ETF Series)

CGHY

$

0.0516

CGHY.U

$

0.0703 (US$)

CI Global Investment Grade ETF

CGIN

$

0.0000

CGIN.U

$

0.0000 (US$)

CI Global Real Asset Private Pool (ETF Series)

CGRA

$

0.0860

CI Global Green Bond Fund (ETF Series)

CGRB

$

0.0196

CGRB.U

$

0.4887 (US$)

CI Global REIT Private Pool (ETF Series)

CGRE

$

0.0770

CI Global Sustainable Infrastructure Fund (ETF Series)

CGRN

$

0.0500

CGRN.U

$

0.1772 (US$)

CI Gold+ Giants Covered Call ETF

CGXF

$

0.0000

CGXF.U

$

0.0000 (US$)

CI Global Healthcare Leaders Index ETF

CHCL.B

$

0.0164

CI ICBCCS S&P China 500 Index ETF

CHNA.B

$

0.0963

CI Emerging Markets Alpha ETF

CIEM

$

0.0000

CIEM.U

$

0.0000 (US$)

CI DoubleLine Income US$ Fund (ETF Series)

CINC

$

0.0786

CINC.B

$

0.0759

CINC.U

$

0.1065 (US$)

CI Global Infrastructure Private Pool (ETF Series)

CINF

$

0.0690

CI Global Alpha Innovation ETF

CINV

$

0.0000

CINV.U

$

0.0000 (US$)

CI Global Climate Leaders Fund (ETF Series)

CLML

$

0.0000

CLML.U

$

0.0000 (US$)

CI Munro Alternative Global Growth Fund (ETF Series)

CMAG

$

0.0000

CMAG.U

$

0.0000 (US$)

CI Marret Alternative Absolute Return Bond Fund (ETF Series)

CMAR

$

0.0080

CMAR.U

$

0.0300 (US$)

CI Galaxy Multi-Crypto ETF

CMCX.B

$

0.0000

CMCX.U

$

0.0000 (US$)

CI Alternative Diversified Opportunities Fund (ETF Series)

CMDO

$

0.0000

CMDO.U

$

0.0000 (US$)

CI Marret Alternative Enhanced Yield Fund (ETF Series)

CMEY

$

0.0200

CMEY.U

$

0.0385 (US$)

CI Munro Global Growth Equity Fund (ETF Series)

CMGG

$

0.0000

CMGG.U

$

0.0000 (US$)

CI Galaxy Metaverse ETF

CMVX

$

0.0006

CI Alternative North American Opportunities Fund (ETF Series)

CNAO

$

0.0000

CNAO.U

$

0.0000 (US$)

CI Alternative Investment Grade Credit Fund (ETF Series)

CRED

$

0.9867

CRED.U

$

1.3173 (US$)

CI High Interest Savings ETF

CSAV

$

0.0000

CI U.S. Treasury Inflation-linked Bond Index ETF (CAD Hedged)

CTIP

$

0.0009

CI U.S. 500 Index ETF

CUSA.B

$

0.0000

CI U.S. 1000 Index ETF

CUSM.B

$

0.0000

CI Canadian Convertible Bond ETF

CXF

$

0.0000

CI WisdomTree U.S. Quality Dividend Growth Index ETF

DGR

$

0.0789

DGR.B

$

0.0326

CI WisdomTree Canada Quality Dividend Growth Index ETF

DGRC

$

0.3564

CI WisdomTree U.S. Quality Dividend Growth Variably Hedged Index ETF

DQD

$

0.6375

CI WisdomTree International Quality Dividend Growth Variably Hedged Index ETF

DQI

$

0.0000

CI WisdomTree Europe Hedged Equity Index ETF

EHE

$

0.0000

EHE.B

$

0.0000

CI WisdomTree Emerging Markets Dividend Index ETF

EMV.B

$

0.0267

CI Galaxy Ethereum ETF

ETHX.B

$

0.0000

ETHX.U

$

0.0000 (US$)

CI Enhanced Government Bond ETF

FGO

$

0.0100

FGO.U

$

0.0557 (US$)

CI Health Care Giants Covered Call ETF

FHI

$

0.0000

FHI.B

$

0.0000

FHI.U

$

0.0000 (US$)

CI Investment Grade Bond ETF

FIG

$

0.0000

FIG.U

$

0.0000 (US$)

CI U.S. & Canada Lifeco Covered Call ETF

FLI

$

0.0000

CI Preferred Share ETF

FPR

$

0.2815

CI Enhanced Short Duration Bond Fund (ETF Series)

FSB

$

0.0604

FSB.U

$

0.1379 (US$)

CI Global Financial Sector ETF

FSF

$

0.0000

CI Morningstar Canada Value Index ETF

FXM

$

0.5740

CI WisdomTree International Quality Dividend Growth Index ETF

IQD

$

0.0000

IQD.B

$

0.0000

CI WisdomTree Japan Equity Index ETF

JAPN

$

0.0000

JAPN.B

$

0.0000

CI Global Longevity Economy Fund (ETF Series)

LONG

$

0.0000

CI Energy Giants Covered Call ETF

NXF

$

0.0000

NXF.B

$

0.0000

NXF.U

$

0.0000 (US$)

CI ONE North American Core Plus Bond ETF

ONEB

$

0.0000

CI ONE Global Equity ETF

ONEQ

$

0.0951

CI Morningstar National Bank Québec Index ETF

QXM

$

1.4370

CI Canadian REIT ETF

RIT

$

0.0000

CI MSCI Europe Low Risk Weighted ETF

RWE

$

0.0000

RWE.B

$

0.0000

CI MSCI World Low Risk Weighted ETF

RWW

$

1.9140

RWW.B

$

0.6169

CI MSCI International Low Risk Weighted ETF

RWX

$

0.0000

RWX.B

$

0.0000

CI U.S. TrendLeaders Index ETF

SID

$

0.0284

CI Tech Giants Covered Call ETF

TXF

$

0.0000

TXF.B

$

0.0000

TXF.U

$

0.0000 (US$)

CI WisdomTree U.S. MidCap Dividend Index ETF

UMI

$

0.0000

UMI.B

$

0.0000

CI Gold Bullion Fund

VALT

$

0.5391

VALT.B

$

0.0000

VALT.U

$

0.5384 (US$)

CI Morningstar International Value Index ETF

VXM

$

0.0000

VXM.B

$

0.0000

CI Morningstar Canada Momentum Index ETF

WXM

$

0.9514

CI Morningstar US Value Index ETF

XXM

$

0.0000

XXM.B

$

0.0000

CI Morningstar US Momentum Index ETF

YXM

$

0.0454

YXM.B

$

0.0652

CI Morningstar International Momentum Index ETF

ZXM

$

0.1231

ZXM.B

$

0.1123

CORPORATE CLASS ETFs

 

 

 

Note 1

CI Canadian Banks Covered Call Income Class ETF

CIC

$

0.0000

CI Short Term Government Bond Index Class ETF

FGB

$

0.0000

CI MSCI Canada Quality Index Class ETF

FQC

$

0.0000

Note 1 – The Corporate Class ETFs have a tax year end of December 31, but none of the Corporate Class ETFs currently anticipate a reinvested distribution for 2022.

Forward-looking Information

This press release contains forward-looking statements with respect to the estimated Reinvested Distributions for the CI ETFs. By their nature, these forward-looking statements involve certain risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual Reinvested Distributions to differ from the estimated Reinvested Distributions between now and the CI ETFs’ tax year-ends include, without limitation: the actual amounts of distributions received by the CI ETFs; the actual amount of capital gains generated from sales of securities; and subscription and redemption activity in the CI ETFs.

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 integrated global asset and wealth management company with approximately $364.3 billion in assets as of October 31, 2022.

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.

Commissions, management fees and expenses all may be associated with an investment in ETFs. 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. Please read the prospectus before investing. Important information about an exchange-traded fund (ETF) is contained in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.

This document contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Financial Corp. (“CI”) and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that all announced transactions will be completed and that assets levels do not decline prior to completion, the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI’s disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.

CI Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2022. All rights reserved.

Murray Oxby

Vice-President, Corporate Communications

CI Global Asset Management

416-681-3254

moxby@ci.com

Source: CI Global Asset Management

FAQ

What are the estimated annual reinvested capital gains distributions for CI ETFs in 2022?

The CI Global Asset Management has corrected its announcement regarding the estimated capital gains distributions for 2022, with updated figures based on revisions made after October 31, 2022.

How does the correction of capital gains distributions affect CI Gold Bullion Fund investors?

The correction may impact the financial planning and tax obligations of investors in the CI Gold Bullion Fund.

When was the corrected announcement for the CI ETFs capital gains distributions released?

The corrected announcement was issued to replace the previous release dated December 5, 2022.

Why was the announcement regarding capital gains distributions amended?

The announcement was amended due to changes in the estimated annual reinvested capital gains for the CI Gold Bullion Fund.

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