Ms. Jennifer Sinopoli reports

CI GLOBAL ASSET MANAGEMENT LAUNCHES MONEY MARKET ETFS

CI Financial Corp.'s CI Global Asset Management (CI GAM) has launched two money market exchange-traded funds, the latest step in a series of enhancements to its money market lineup. CI Money Market ETF and CI U.S. Money Market ETF begin trading today on the Toronto Stock Exchange under the ticker symbols CMNY and UMNY.U, respectively.

"These new mandates present ETF investors with highly competitive options for their cash investments, with a choice of Canadian- and U.S.-dollar versions and a management fee of 0.14 per cent," said Jennifer Sinopoli, executive vice-president and head of distribution for CI GAM.

"This launch is also timely, as investors can benefit from increasingly attractive yields on money market instruments, as well as maintaining liquidity and preserving capital in a dynamic and uncertain market environment."

The investment objective of the ETFs is to earn income at the highest rate of return that is consistent with preserving capital and maintaining liquidity. CMNY will invest primarily in money market instruments that mature in less than 365 days, while UMNY.U will invest primarily in money market instruments denominated in U.S. dollars that mature in less than 365 days.

The introduction of CMNY and UMNY.U follows a series of changes CI GAM announced earlier this month to simplify and enhance its suite of money market funds. The changes included significant reductions in the management fees charged to CI Money Market Class, CI Money Market Fund, CI U.S. Money Market Fund, CI Money Market Corporate Class and CI U.S. Money Market Corporate Class. The fees were reduced to 0.14 per cent for Series F and Series P and to 0.39 per cent for Series A.

CI GAM's strengthened money market lineup is a strong complement to the firm's other cash investments, which include CI High Interest Savings ETF (CSAV) and CI High Interest Savings Fund.

"The launch of CMNY and UMNY.U demonstrates our commitment to provide a comprehensive lineup of ETFs meeting the diverse needs and interests of Canadian investors," Ms. Sinopoli said.

CI GAM has approximately $19-billion in assets under management in ETFs (as at June 30, 2023), making it Canada's fifth-largest ETF provider. CI GAM's ETF lineup consists of more than 130 mandates and includes beta, smart beta, asset allocation, managed volatility, actively managed, liquid alternatives, digital assets, covered calls, ESG and other thematic mandates.

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