CI Global Asset Management Announces Portfolio Management Changes

CI Global Asset Management ("CI GAM”) today announced portfolio management changes to four U.S. equity, two global dividend and two Canadian small-cap funds. Effective June 28, 2021, the mandates will be managed by the CI GAM investment team, leveraging the extensive investment resources and expertise available within the firm.

CI GAM is appointing portfolio managers with specialized expertise in those sectors and extensive experience in managing other mandates in those asset classes, as shown in the table below. In the case of CI Global High Dividend Advantage Fund and CI Global High Dividend Advantage Corporate Class, each fund will be managed by CI GAM’s multi-asset group and will fulfill its investment objective by investing in high-quality dividend-paying and income-focused exchange-traded funds.

"With these changes, we are taking advantage of the deep bench strength of CI GAM’s investment team,” said Kurt MacAlpine, Chief Executive Officer of CI Financial Corp., CI GAM’s parent company. "Additionally, CI GAM’s move to combine investment boutiques into one team is allowing us to leverage the full scale of a large investment organization. We have aligned our portfolio managers and analysts by investment strategies instead of by boutique, increased the depth and breadth of our research coverage, and expanded the capacity of our team.”

The new portfolio management appointments are as follows:

*Names to be changed to CI U.S. Stock Selection Fund and CI U.S. Stock Selection Corporate Class, respectively, effective on or about July 29, 2021.

There will be no changes to the investment objectives of the funds. CI GAM is replacing Epoch Investment Partners, Inc. ("Epoch”) on the U.S. and global dividend funds and QV Investors Inc. ("QV”) on the Canadian small-cap funds. Epoch and QV will continue to manage other mandates for CI GAM.

The Independent Review Committee of the funds has reviewed the changes with respect to the potential conflict of interest matters and provided its positive recommendation, having determined that the changes achieve a fair and reasonable result for each fund.

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 GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately $288.3 billion in total assets as at May 31, 2021.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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. 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. Some conditions apply.

CI Global Asset Management is a registered business name of CI Investments Inc. ©CI Investments Inc. 2021. All rights reserved.

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