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CI Global Asset Management (CI GAM) has received approval for the final prospectus of two new ETFs: CI Global Minimum Downside Volatility Index ETF and CI U.S. Minimum Downside Volatility Index ETF, expected to trade on the TSX from January 24, 2023. These ETFs aim to minimize downside volatility while allowing for potential gains. Additionally, CI GAM plans to merge three existing ETFs into the new CI Global Minimum Downside Volatility Index ETF, offering a lower management fee of 0.35%. Securityholder meetings for the mergers are set for March 7, 2023.
CI Global Asset Management (CI GAM) announced regular cash distributions for its ETFs for the quarter ending December 31, 2022. The distributions will be paid by December 30, 2022, for unitholders on record as of December 22, 2022. The ex-dividend date varies, with most ETFs on December 21, 2022. Key distribution amounts include CI Yield Enhanced Canada Aggregate Bond Index ETF at $0.1100 and CI Canadian Banks Covered Call Income Class ETF at $0.2493. CI's Distribution Reinvestment Plan will reinvest cash distributions unless unitholders opt for cash payments.
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.
CI Global Asset Management has announced the estimated annual reinvested capital gains distributions for the 2022 tax year for its listed ETFs. These estimates, as of October 31, 2022, are important for investors to understand potential tax implications on their investments. The distributions may affect the tax liabilities of investors holding these ETFs and are part of CI GAM's commitment to transparency in financial reporting.
CI Global Asset Management announced the estimated reinvested distributions for the JFT Strategies Fund for the year ending December 31, 2022. The estimated amounts, as of October 31, 2022, include forward-looking information that may change by year-end. Distributions are expected to be paid by January 13, 2023, to holders of record on December 30, 2022. The Class A fund will have an estimated distribution of $1.742471 per unit, while Class F will have $1.862222. Actual distributions will be confirmed after the tax year-end.
CI Financial Corp. (NYSE: CIXX) has announced the sale of $400 million in debentures, maturing on December 2, 2025, with a fixed interest rate of 7.00%. The funds will be used to refinance existing debt, aiming to reduce borrowing under its credit facility without increasing overall debt. The debentures have received ratings of BBB (Stable) from DBRS, Baa2 (Stable) from Moody's, and BBB- (Negative) from Standard & Poor's. CI targets a net leverage ratio between 1.5x and 2.0x, showing a commitment to financial prudence.
CI Global Asset Management has launched the CI Global Investment Grade Fund, aimed at investors seeking regular income and expert management. This mutual fund trust version builds on the success of the CI Global Investment Grade Class, which holds a five-star rating from Morningstar and won two Refinitiv Lipper Fund Awards in 2022. The Fund's objective is to generate income and long-term capital appreciation through a diversified portfolio of investment-grade securities globally. CI GAM manages approximately
CI Global Asset Management has announced cash distributions for various ETFs for November 2022. Key highlights include:
- Distribution payments on or before November 30, 2022.
- Ex-dividend dates listed, with most on November 23, 2022.
- Distribution amounts vary per ETF, with CI High Interest Savings ETF offering the highest at
$0.1650 .
CI offers a Distribution Reinvestment Plan (DRIP) for investors wishing to reinvest cash distributions.
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