TORONTO, Sept. 24, 2018 - CI Investments Inc. ("CI") today announced that its Sentry-branded investment funds have been switched to CI's administrative platform, providing investors and advisors with expanded choice and greater ease of doing business with CI.
"Investors now have the ability to seamlessly switch among the wide range of funds, managed solutions and investment platforms offered by CI," said Roy Ratnavel, Executive Vice-President and Head of Sales for CI. "A single back-office point of contact also makes it easier for investors and advisors to invest with us."
The move gives investors improved access to CI's diverse lineup of portfolio management teams, including Signature Global Asset Management, Cambridge Global Asset Management, CI Multi-Asset Management, Marret Asset Management, Harbour Advisors, and Black Creek Investment Management, as well as Sentry Investment Management.
"Investors will also benefit from a pricing perspective, as eligible investments in CI and Sentry funds can be aggregated to qualify for further fee reductions on Sentry funds and to qualify for CI Preferred Pricing on CI funds," Mr. Ratnavel said. "CI Preferred Pricing is also being enhanced next month with a reduced minimum investment requirement."
Current investors in the Sentry funds will continue to benefit from existing services, including Sentry's preferred pricing program, which applies fee reductions through monthly management fee rebates or distributions. Additionally, as of September 1, 2018, client investments in Sentry funds also have the added advantage of fixed administration fees, which have replaced variable operating expenses. This change, which was announced earlier this year, results in management expense ratios that are the same or lower than previous levels and provides increased certainty and transparency in the cost of investing.
Sentry Investments Inc. was acquired by CI Financial Corp., the parent company of CI, in October 2017. The conversion of Sentry-branded funds to the CI platform marks the final step in the integration of the former Sentry Investments into CI. The addition of Sentry has strengthened CI as one of Canada's largest asset managers, committed to active management and serving investors in partnership with financial advisors.
Information about Sentry funds continues to be available at sentry.ca.
About CI Preferred Pricing™
CI Preferred Pricing is a tiered pricing model under which management and/or administration fees are automatically reduced as an investor's eligible Class A (ISC), Class F and Class P assets reach certain thresholds. The minimum investment to qualify for the program is being reduced to $100,000 from $150,000 as of October 1, 2018. At the same time, the minimum investment requirement to qualify for Family Group pricing under CI Preferred Pricing is being reduced to $100,000 from $250,000. Under CI Preferred Pricing, fee discounts are applied back to dollar one and high watermark protection ensures that investors will not move to another fee tier due to negative performance.
About CI Investments
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 $182.9 billion in fee-earning assets as of August 31, 2018.
SOURCE CI Financial Corp.
Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (www.sedar.com).