CIXX - CIXX STOCK NEWS

CI Global Asset Management (CI GAM) has proposed the merger of six exchange-traded funds (ETFs) to streamline its product lineup and enhance operational efficiencies. These changes follow a recent proposal for 22 mutual fund mergers aimed at modernization. The mergers are expected to lower redemption risks and improve trading efficiencies by increasing asset bases. Special meetings for securityholders are set for March 15, 2022, with mergers potentially effective on or after April 8, 2022. CI GAM will absorb the associated costs, and management fees for the continuing ETFs will be lower.

CI Global Asset Management announced estimated reinvested distributions for the JFT Strategies Fund for the year ending December 31, 2021. The amounts, as of October 29, 2021, indicate Class A units will have an estimated distribution of $2.0005 and Class F units $2.1284. Payments are scheduled on or before January 14, 2022, for holders of record as of December 31, 2021. The actual taxable amounts will be confirmed after year-end. Forward-looking information included in the release suggests potential fluctuations in the final distribution amounts due to various risk factors.

CI Financial Corp. has announced its acquisition of RegentAtlantic Capital, adding US$6.0 billion in assets. This strategic move enhances CI's wealth management capabilities and will push its U.S. assets past the US$100 billion milestone for the first time. The deal underscores CI's commitment to expanding its footprint in the financial advisory sector, particularly among high-net-worth clients. With this acquisition, CI aims to solidify its position as a leading wealth management firm in the U.S. market.

CI Global Asset Management (CI GAM) has announced its estimated annual reinvested capital gains distributions for the 2021 tax year related to specific CI ETFs. These distributions are vital for investors to understand potential tax implications, as the amounts are subject to change and reflect the company's financial performance. The announcement, made on October 29, 2021, serves as an important update for stakeholders to prepare for tax-related strategies involving the CI ETFs.

CI Financial Corp. (NYSE: CIXX, TSX: CIX) has acquired Matrix Capital Advisors, a Chicago-based investment advisor overseeing US$615 million in assets. This acquisition aligns with CI's strategy to expand its CI Private Wealth brand, enhancing client relationship capabilities and resources. CI also completed the acquisition of McCutchen Group, managing US$3.4 billion. These transactions will increase CI's U.S. wealth management assets to approximately US$86.6 billion, and forecasted assets will rise to US$98.2 billion post-completion.

CI Global Asset Management has announced a strategic overhaul of its product lineup aimed at simplifying offerings for clients. Key changes include the merger of 23 mutual funds, name changes for nine funds, and a reduction in investment minimums for certain classes. The CI Global Investment Grade Private Pool Class will see its minimum investment drop from $25,000 to $500, effective December 1, 2021. Risk ratings for CI Canadian Equity Income Class will also be adjusted from low-to-medium to medium.

CI Global Asset Management has received recognition with 13 Refinitiv Canada Lipper Fund Awards for 2021, highlighting its exceptional risk-adjusted performance across various investment categories. CEO Kurt MacAlpine credited the awards to strategic enhancements made over the past year, optimizing asset management through collaboration among investment teams. Notable winners include the CI Canadian Dividend Fund and CI Global Alpha Innovators Corporate Class, marking their performance in the Canadian dividend and sector equity categories.

CI Global Asset Management announced regular cash distributions for various ETFs ending November 30, 2021. Unitholders of record by November 24, 2021, will receive distributions by November 30, 2021, with ex-dividend dates varying by ETF. Examples include CI Canadian Convertible Bond ETF (CXF) at $0.0400 per unit, CI Active Utility & Infrastructure ETF (FAI) at $0.0444, and CI High Interest Savings ETF (CSAV) at $0.0221. CI also introduced a Distribution Reinvestment Plan (DRIP) to automatically reinvest cash distributions into the respective ETFs.