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CI Global Asset Management (CI GAM) announced two fund mergers on Monday.
In a release, the firm announced the termination of the Cambridge Monthly Income Fund and the Cambridge Monthly Income Corporate Class, both of which will be merged into the Cambridge Global High Income Fund.
The termination of the Cambridge Monthly Income Fund does not require regulatory or unitholder approval and is expected to take place on July 23.
A unitholder meeting to approve the termination of the Cambridge Monthly Income Corporate Class has been scheduled for July 12.
CI GAM said the fund mergers will “reduce duplication in its fund lineup” and “create larger, more efficient funds with increased potential for diversification opportunities.”
CI Global Asset Management (CI GAM) announced two fund mergers on Monday.
In a release, the firm announced the termination of the Cambridge Monthly Income Fund and the Cambridge Monthly Income Corporate Class, both of which will be merged into the Cambridge Global High Income Fund.
The termination of the Cambridge Monthly Income Fund does not require regulatory or unitholder approval and is expected to take place on July 23.
A unitholder meeting to approve the termination of the Cambridge Monthly Income Corporate Class has been scheduled for July 12.
CI GAM said the fund mergers will “reduce duplication in its fund lineup” and “create larger, more efficient funds with increased potential for diversification opportunities.”
Press release content from Business Wire. The AP news staff was not involved in its creation.
CI Global Asset Management Announces Fund Name Changes and Mergers
May 3, 2021 GMT
TORONTO (BUSINESS WIRE) May 3, 2021
CI Global Asset Management (“CI GAM”) today announced changes to its fund lineup, including two fund name changes and two fund mergers.
Name changes
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The changes remove the legacy First Asset name from the funds and align them with the CI GAM brand.
Fund mergers
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The Mergers will result in the termination of Cambridge Monthly Income Fund and Cambridge Monthly Income Corporate Class, while the two funds’ unitholders will receive the equivalent dollar value of securities in the same series of Cambridge Global High Income Fund.