May 7, 2024
CI Global Asset Management Launches Actively Managed Artificial Intelligence ETF with Reduced Management Fee
CI Global Artificial Intelligence ETF begins trading today
TORONTO (May 7, 2024) – CI Global Asset Management (“CI GAM”) announces that CI Global Artificial Intelligence ETF (“CIAI”) has closed its initial offering of ETF C$ Series Units and begins trading today on the Toronto Stock Exchange under the ticker CIAI.
CI GAM is also reducing the management fee of CIAI to 0.20% from 0.55% until the earlier of one year after launch or until CIAI reaches $1 billion in assets under management. As a result of the fee waiver, CIAI will begin trading with the lowest management fee of any artificial intelligence-focused ETF in the Canadian marketplace.
The investment objective of CIAI is to maximize long-term capital appreciation by investing primarily in global equity securities of companies that are actively involved in the research, development and application of artificial intelligence technologies.
“CIAI provides investors with targeted access to investment opportunities created by the artificial intelligence revolution,” said Jennifer Sinopoli, Executive Vice-President and Head of Distribution for CI GAM.
“Though still in its early stages, AI is a true megatrend that is already transforming companies, industries and the global economy, and we expect its usage to accelerate in the coming years. CIAI is actively managed by the CI GAM investment team to identify those companies in a diverse range of industries that are at the forefront of AI development and using it to drive innovation, improve efficiency and gain a competitive edge.”
CIAI invests in a concentrated portfolio of 40 to 50 companies in sectors such as information technology, health care, consumer electronics, autonomous vehicles, financial services, manufacturing and robotics. It is managed by a team of highly experienced investment professionals supported by CI GAM’s deep global equity research capabilities.
CIAI expands the selection and diversity of CI GAM’s ETF lineup, which is one of the industry’s most comprehensive with more than 80 ETFs. They include beta, smart beta, asset allocation, managed volatility, actively managed, liquid alternatives, digital assets, covered calls, cash management, ESG, and other thematic mandates. CI GAM is Canada’s fifth-largest ETF provider, with approximately $21.5 billion in ETF assets under management (as at March 31, 2024).
About CI Global Asset Management
CI Global Asset Management (“CI GAM”) 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 GAM is a subsidiary of CI Financial Corp. (TSX: CIX), an integrated global asset and wealth management company with approximately $474.2 billion in assets as at March 31, 2024.
Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs are not guaranteed; their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. 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. These investments may not be suitable to the circumstances of an investor.
The CI Exchange-Traded Funds are managed by CI Global Asset Management, a wholly owned subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc. ©CI Investments Inc. 2024. All rights reserved.
Contact:
Murray Oxby
Vice-President, Corporate Communications
416-681-3254
moxby@ci.com
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CI Global Asset Management is a registered business name of CI Investments Inc. © CI Investments Inc. 2024. All rights reserved.