Investment manager also lowers entry point for Preferred Pricing program
CI Investments will cut its management fees on 33 of its funds from tomorrow (August 1, 2018) and make changes to the threshold for its Preferred Pricing program in the fall.
The Toronto-based investment manager will reduce the fund fees by between 5 and 55 basis points for Class A, F and P securities and certain CI Preferred Pricing tiers of selected funds, and for Series A, B and F securities of selected Sentry-branded funds. The reductions focus on fixed-income and global specialty equity mandates.
It will also reduce the minimum investment requirement for its Preferred Pricing program to $100,000 (from $150,000) from October 1, 2018. This program applies fee reductions automatically.
The minimum to qualify for Family Group pricing, which allows advisors to ensure that clients’ families are all receiving the maximum fee reductions open to them, will also reduce to $100,000 from the current $250,000 on the same date.
"These are significant fee changes that will benefit hundreds of thousands of our investors," said Roy Ratnavel, Executive Vice-President and Head of Sales for CI Investments. "Investors will be accessing our actively managed investment solutions and the expertise of our leading portfolio management teams at a lower cost."
The funds that are affected:
- CI Canadian Investment Corporate Class
- CI Canadian Investment Fund
- CI Global Health Sciences Corporate Class
- Lawrence Park Strategic Income Fund
- Marret High Yield Bond Fund
- Marret Short Duration High Yield Fund
- Select Income Managed Corporate Class
- Sentry Energy Fund
- Sentry Global Infrastructure Fund
- Sentry Global REIT Class
- Sentry Global REIT Fund
- Sentry Precious Metals Class
- Sentry Precious Metals Fund
- Sentry Resource Opportunities Class
- Signature Canadian Bond Corporate Class
- Signature Canadian Bond Fund
- Signature Corporate Bond Corporate Class
- Signature Corporate Bond Fund
- Signature Emerging Markets Corporate Class
- Signature Emerging Markets Fund
- Signature Global Bond Corporate Class
- Signature Global Bond Fund
- Signature Global Energy Corporate Class
- Signature Global Resource Corporate Class
- Signature Global Resource Fund
- Signature Global Technology Corporate Class*
- Signature Gold Corporate Class
- Signature High Yield Bond Corporate Class
- Signature High Yield Bond II Fund
- Signature Preferred Share Pool
- Signature Real Estate Pool
- Signature Short-Term Bond Fund
- Signature Tactical Bond Pool.
* Formerly Signature Global Science & Technology Corporate Class.
