CI Global Asset Management has announced a proposal to merge six ETFs into other ETFs, saying that this is part of its continuing strategy to modernise its product line-up.
The changes, along with a proposal announced last month by CI GAM for 22 mutual fund mergers, will simplify and streamline CI GAM’s product lineup, making it easier for advisers and investors to do business with CI GAM, the firm says.
The firm writes that the moves are part of CI GAM’s strategic priority of modernising its asset management business, which this year has also included introducing a series of timely new investment products, the rebranding of over 150 investment funds, the integration of CI GAM’s in-house portfolio management boutiques into one global investment platform, and the appointment of a new Head of Investment Management.
CI GAM believes the mergers will also benefit security holders as the continuing funds will have larger asset bases, thereby lowering large redemption risk and increasing trading efficiencies, as applicable. All of the ETFs involved in the proposed mergers are listed on the Toronto Stock Exchange.
