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TORONTO--(BUSINESS WIRE)--CI Global Asset Management (CI GAM) today announced changes to its fund lineup, including two fund name changes and two fund mergers. Name changes Effective May 7, 2021: The changes remove the legacy First Asset name from the funds and align them with the CI GAM brand. Fund mergers CI GAM is proposing the following two fund mergers (the Mergers): The Mergers will result in the termination of Cambridge Monthly Income Fund and Cambridge Monthly Income Corporate Class, while the two funds unitholders will receive the equivalent dollar value of securities in the same series of Cambridge Global High Income Fund. The terminating funds and the continuing fund have similar investment objectives and are managed by the same portfolio managers within CI GAM. The funds also have the same management fee and fixed administration fee rates. The Merger of Cambridge Monthly Income Fund into Cambridge Global High Income Fund does not require regulatory or unitholder approval and will be implemented on or about July 23, 2021. Unitholders will receive a written notice later this month and no action is required on their part. The Merger will not result in a taxable disposition for unitholders, but the terminating fund may pay a distribution when the Merger takes place. The Merger of Cambridge Monthly Income Corporate Class into Cambridge Global High Income Fund requires regulatory and unitholder approval, as the Merger will take place on a taxable basis. (The terminating fund also may pay a distribution when the Merger takes place.) A unitholder meeting has been scheduled for July 12, 2021 and, if required, an adjourned meeting will be held on July 19, 2021. Holders of record for each series of securities of the terminating fund on May 27, 2021 will be entitled to receive notice and vote at the meeting. The Notice and Access Document which details the proposal will be mailed to unitholders and the Management Information Circular will be available on www.sedar.com and www.ci.com on or about June 9, 2021. Pending the required unitholder and regulatory approvals, the Merger will be implemented after the close of business on or about July 23, 2021. CI GAM has proposed the Mergers to reduce duplication in its fund lineup and to create larger, more efficient funds with increased potential for diversification opportunities. The costs and expenses associated with the Mergers are being borne by CI GAM, not the funds. The Independent Review Committee of the terminating funds has reviewed the Merger proposal with respect to the potential conflict of interest matters and provided its positive recommendation or approval, as applicable, having determined that the Mergers achieve a fair and reasonable result for each terminating fund. About CI Global Asset Management CI Global Asset Management is one of Canadas largest investment management companies. It offers a wide range of investment products and services and is on the Web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately $240.6 billion in total assets as at March 31, 2021. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds. Please read the prospectus before investing. Important information about mutual funds is contained in their respective prospectus. Mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. This communication is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. Certain statements in this document are forward-looking. Forward-looking statements (FLS) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as may, will, should, could, expect, anticipate, intend, plan, believe, or estimate, or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management believes to be reasonable assumptions, CI Global Asset Management cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise. CI Global Asset Management is a registered business name of CI Investments Inc. CI Investments Inc. 2021. All rights reserved.

Answer: CI Global Asset Management Announces Fund Name Changes and Mergers