Mr. Murray Oxby reports

CI INVESTMENTS ANNOUNCES FUND MERGERS

CI Investments Inc., subsidiary of CI Financial Corp., today reported a proposal to merge 11 funds into other funds within its G5|20 Series.

Terminating funds        Continuing fund
CI G5|20 2039 Q1 Fund
CI G5|20 2040 Q3 Fund
CI G5|20 2041 Q1 Fund
CI G5|20 2041 Q2 Fund    CI G5|20 2040 Q4 Fund

CI G5|20 2039 Q4 Fund
CI G5|20 2040 Q2 Fund    CI G5|20 2040 Q1 Fund


CI G5|20i 2034 Q2 Fund
CI G5|20i 2034 Q3 Fund
CI G5|20i 2034 Q4 Fund   CI G5|20i 2035 Q1 Fund

CI G5|20i 2035 Q3 Fund
CI G5|20i 2035 Q4 Fund   CI G5|20i 2035 Q2 Fund


  

The G5|20 funds are designed to provide investors with a guaranteed cash flow in retirement. CI is proposing the mergers in order to streamline the lineup and to retain certain tax efficiencies for the funds. In addition, the continuing funds will benefit from larger asset bases, thereby allowing more efficient risk management due to economies of scale.

The proposed mergers will result in unitholders of each terminating fund receiving an aggregate amount per guaranteed distribution that is equal to or higher than their current entitlement. There will be no changes to the guaranteed distributions payable to the unitholders of the continuing funds.

The CI Investments board of governors, acting in its capacity as the independent review committee for the funds, has reviewed the proposed mergers with respect to potential conflict of interest matters and provided a positive recommendation, having determined that the mergers, if implemented, achieve a fair and reasonable result for each of the funds. The costs and expenses associated with the mergers are being borne by CI, not the funds.

The proposed mergers require the approval of unitholders of the terminating funds. CI expects to mail meeting materials to unitholders in October, and meetings to vote on the proposals have been scheduled for Nov. 21, 2017. Pending unitholder and other required approvals, the mergers will take place at the close of business on or about Nov. 24, 2017.

About CI Investments Inc.

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. CI is a subsidiary of CI Financial, an independent, Canadian-owned wealth management firm with $160.7-billion in assets as of Aug. 31, 2017.