CI launches high interest savings fund

The new product invests in the CI First Asset ETF launched in June

By Staff | July 31, 2019 | Last updated on July 31, 2019
1 min read
grand opening illustrated with a scissors, a red ribbon and confetti on a white background
© James Steidl / 123RF Stock Photo

Toronto-based CI Investments Inc. is introducing a mutual fund to invest in its recently launched CI First Asset High Interest Savings ETF.

The ETF, which invests primarily in high-interest savings accounts with a yield of approximately 2.10%, started trading on the TSX in June. The management fee on the Class F mutual fund is 0.14%, the same as for the ETF, CI said in a release.

The mandate and investment objective for the two products is the same.

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.

TD hit with $9.2M penalty after failing to report suspicious transactions

Industry

TD hit with $9.2M penalty after failing to report suspicious transactions

The penalty is for five violations during a review between March 2022 and March 2023: Fintrac

By Ian Bickis, Canadian Press |May 2, 2024

2 min read

Rep incorporation proposals prove to be sticky wicket

Industry

Rep incorporation proposals prove to be sticky wicket

Industry divided on, investor advocates opposed to, reforms

By James Langton |April 8, 2024

3 min read

Advocis settles with SeeWhy over non-payment of study materials

Industry

Advocis settles with SeeWhy over non-payment of study materials

Association paid outstanding invoice, plus interest and majority of legal fees, SeeWhy says

By Michelle Schriver |April 4, 2024

4 min read