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CI Global Asset Management to merge three ETFs

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CI Global Asset Management (“CI GAM”) has announced that it has received the required securityholder approval to merge three ETFs into CI Global Minimum Downside Volatility Index ETF.

The mergers, which were first announced in December 2022, were approved at securityholder meetings held yesterday and will be implemented after the close of business on or about March 31, 2023.

The details of the proposed mergers are listed below. All of the ETFs trade on the TSX.

Terminating ETF

Ticker

Continuing ETF

Ticker

CI MSCI World Low Risk Weighted ETF

(Hedged Common Units)

RWW

CI Global Minimum Downside Volatility

Index ETF (Hedged Common Units)

CGDV

CI MSCI World Low Risk Weighted ETF

(Unhedged Common Units)

RWW.B

CI Global Minimum Downside Volatility

Index ETF (Unhedged Common Units)

CGDV.B

CI MSCI International Low Risk Weighted

ETF (Hedged Common Units)

RWX

CI Global Minimum Downside Volatility

Index ETF (Hedged Common Units)

CGDV

CI MSCI International Low Risk Weighted

ETF (Unhedged Common Units)

RWX.B

CI Global Minimum Downside Volatility

Index ETF (Unhedged Common Units)

CGDV.B

CI MSCI Europe Low Risk Weighted ETF

(Hedged Common Units)

RWE

CI Global Minimum Downside Volatility

Index ETF (Hedged Common Units)

CGDV

CI MSCI Europe Low Risk Weighted ETF

(Unhedged Common Units)

RWE.B

CI Global Minimum Downside Volatility

Index ETF (Unhedged Common Units)

CGDV.B

The mergers will be effected on a non-taxable basis, and the costs and expenses associated with the mergers are being borne by CI GAM, not the Terminating ETFs. The Independent Review Committee of the Terminating ETFs reviewed the proposed mergers with respect to potential conflict of interest matters and provided its positive recommendation, having determined that the changes achieve a fair and reasonable result for each of the Terminating ETFs.

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