<p><span>ETFs are increasingly becoming the incumbent in the global passive investment industry. In June 2021, global assets under management in index-tracking ETFs hit their new record of USD 8.66tn, which is merely USD 132bn short of assets in passive mutual funds. Building on the success of ETFs, CI Global Asset Management, a subsidiary of Toronto-based CI Financial Corp. (TSX: CIX, NYSE: CIXX), has licensed four Solactive indices to provide its clients three plain vanilla benchmark ETFs, including a broad Canada ETF, and two ETFs tracking the largest 500 and 1000 US companies, respectively. Furthermore, to allow investors to participate in the performance of global healthcare companies, CI Global Asset Management released an ETF tracking the leaders in global healthcare innovation.</span></p>
ETFs are increasingly becoming the incumbent in the global passive investment industry. In June 2021, global assets under management in index-tracking ETFs hit their new record of USD 8.66tn, which is merelyUSD 132bn short of assets in passive mutual funds. Building on the success of ETFs, CI Global Asset Management, a subsidiary of Toronto-based CI Financial Corp. (TSX: CIX,