TORONTO, July 31, 2019 /CNW/ - CI Investments ("CI") is
pleased to announce the launch of CI High Interest Savings Fund
(the "Fund"), a mutual fund designed to maximize monthly income for
unitholders while preserving capital and liquidity. The Fund will
invest in units of the recently launched CI First Asset High
Interest Savings ETF (TSX: CSAV) (the "ETF"), which invests
primarily in high interest deposit accounts.
"A well-diversified portfolio includes a cash component that
provides liquidity and convenience," said Rohit Mehta, President of CI First Asset
Exchange Traded Funds, a division of CI Investments Inc. "The
positive reception we've had regarding the ETF is encouraging and
confirms that there is demand for this type of product in many
Canadians' portfolios."
The potential benefits of CI High Interest Savings Fund
include:
- Greater earnings potential on cash balances – The Fund,
via investment in ETF units, provides exposure to high interest
savings accounts with an attractive yield of approximately 2.10%,
offering unitholders a compelling alternative to holding cash
directly
- Low cost – The management fee of both the ETF and
Class F mutual fund is only 0.14%
- Liquidity – Easy access to cash and no short-term
trading restrictions mean investors have efficient access to their
cash savings.
The launch of the Fund follows the ETF launch on June 18, 2019. They share an identical mandate
and investment objective. For more information please visit our
website.
About CI Investments – Trusted Partner in
Wealth™
CI Investments is one of Canada's largest investment management
companies. It offers a wide range of investment products and
services and is on the Web at www.ci.com. CI is a subsidiary of CI
Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth
management firm with $177 billion in
assets as of June 30, 2019.
About CI First Asset Exchange Traded Funds
CI First
Asset Exchange Traded Funds, a division of CI Investments Inc., is
a leading provider of exchange-traded funds (ETFs) in Canada offering a comprehensive suite of ETF
solutions. Rooted in strong fundamentals, the diverse and
specialized lineup of CI First Asset ETFs strive to deliver better
risk-adjusted returns than the broad market, while helping
investors achieve their personal financial goals.
Commissions, trailing commissions, management fees and
expenses may be associated with mutual fund investments, including
investments in ETFs. Please read the prospectus before investing.
Mutual funds, including ETFs, are not guaranteed, their values
change frequently and past performance may not be repeated.
CI Investments and the CI Investments design are registered
trademarks of CI Investments Inc. CI First Asset is a trademark of
CI Investments Inc. ©CI Investments Inc. 2019. All rights
reserved.
SOURCE CI Financial Corp.