TORONTO, Sept. 28, 2017 /CNW/ - CI Investments Inc. ("CI") today announced a proposal to merge 11 funds into other funds within its G5|20 Series:

The G5|20 funds are designed to provide investors with a guaranteed cash flow in retirement. CI is proposing the mergers in order to streamline the lineup and to retain certain tax efficiencies for the funds. In addition, the continuing funds will benefit from larger asset bases, thereby allowing more efficient risk management due to economies of scale.

The proposed mergers will result in unitholders of each terminating fund receiving an aggregate amount per guaranteed distribution that is equal to or higher than their current entitlement. There will be no changes to the guaranteed distributions payable to the unitholders of the continuing funds.

The CI Investments Board of Governors, acting in its capacity as the independent review committee for the funds, has reviewed the proposed mergers with respect to potential conflict of interest matters and provided a positive recommendation, having determined that the mergers, if implemented, achieve a fair and reasonable result for each of the funds. The costs and expenses associated with the mergers are being borne by CI, not the funds.

The proposed mergers require the approval of unitholders of the terminating funds. CI expects to mail meeting materials to unitholders in October, and meetings to vote on the proposals have been scheduled for November 21, 2017. Pending unitholder and other required approvals, the mergers will take place at the close of business on or about November 24, 2017.

About CI Investments

CI Investments 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 is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with $160.7 billion in assets as of August 31, 2017.

SOURCE CI Financial Corp.

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