CI Global Asset Management Expands Money Market Lineup with Two New ETFs

CI Global Asset Management (CI GAM) has taken a significant step in enhancing its money market offerings by launching two new money market exchange-traded funds (ETFs) on the Toronto Stock Exchange. The newly introduced funds, CI Money Market ETF and CI U.S. Money Market ETF, provide investors with competitive opportunities for cash investments, offering both Canadian and U.S. dollar versions with a management fee of 0.14%.

The primary objective of these ETFs is to generate income while ensuring capital preservation and maintaining liquidity. This is achieved by strategically investing in money market instruments that have maturities of less than 365 days. By focusing on short-term investments, CI GAM aims to capitalize on the increasingly attractive yields in the money market, providing investors with an ideal solution in a dynamic and uncertain market environment.

The launch of CI Money Market ETF and CI U.S. Money Market ETF comes as part of CI GAM’s effort to streamline and enhance its suite of money market funds. The firm recently announced significant reductions in the management fees charged to several existing funds, including 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. These reductions saw the fees lowered to 0.14% for Series F and Series P, and 0.39% for Series A.

Jennifer Sinopoli, Executive Vice-President and Head of Distribution for CI GAM, emphasized the timeliness of the launch, noting the potential benefits for investors seeking to earn competitive yields on their cash investments while maintaining liquidity and preserving capital.

Heavily Traded ETFs
SPDR S&P 500 - SPY
Invesco QQQ
Vanguard S&P 500 - VOO
Vanguard Total Market - VTI
Energy Select Sector - XLE

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