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Toronto-based CI Investments Inc. is merging three ETFs into investment funds with identical mandates in an effort to streamline and modernize its product suite, the firm said in a Friday release.

The mergers will result in “continuing funds with a dual-class structure that offers both mutual fund and ETF series,” the firm said, noting that the transactions relate to its CI Liquid Alternatives fund offerings and that the dual-class structure was launched earlier this year.

The relevant funds include the CI Lawrence Park Alternative Investment Grade Credit ETF, CI Marret Alternative Absolute Return Bond ETF and CI Munro Alternative Global Growth ETF.

Effective Jan. 15, 2021, the ETFs will be merged into the CI Lawrence Park Alternative Investment Grade Credit Fund, CI Marret Alternative Absolute Return Bond Fund and CI Munro Alternative Global Growth Fund, respectively.

The investment objectives and portfolio management team for the ETFs and continuing investment funds are identical and will not change as a result of the merger, CI Investments said.

Following the January transactions, CI Investments said, the plan is for the ETF series units of the continuing funds to be listed on the TSX. Investors will be able to get access through registered brokers and dealers.

The firm said in the release that no action is needed by securityholders.