CI Global Asset Management Announces Unitholder Approval of ETF Mergers and Investment Objective Changes, and Related Estimated Reinvested Distributions

CI Global Asset Management (“CI GAM”) today announced that unitholders have approved proposals to merge five ETFs and to change the investment objectives of another four ETFs. The proposed changes were announced on February 1, 2021, approved at unitholder meetings held on April 1, 2021, and will be implemented after the close of business on or about April 16, 2021.

CI GAM also announced distributions (the “Estimated Reinvested Distributions”) for the merging ETFs. In all cases, the Estimated Reinvested Distributions will be reinvested on or about April 16, 2021 to unitholders of record on that date.

ETF Mergers

Unitholders and regulators have approved the following five ETF mergers (collectively, the “Mergers”):

Terminating ETF	Continuing ETF
CI First Asset Morningstar Canada Dividend Target 30 Index ETF (TSX: DXM)	CI WisdomTree Canada Quality Dividend Growth Index ETF (TSX: DGRC)
CI First Asset Canadian Buyback Index ETF (TSX: FBE)	CI WisdomTree Canada Quality Dividend Growth Index ETF (TSX: DGRC)
CI First Asset U.S. Buyback Index ETF (TSX: FBU)	CI WisdomTree U.S. Quality Dividend Growth Index ETF (TSX: DGR)
CI First Asset European Bank ETF (TSX: FHB)	CI First Asset Global Financial Sector ETF (TSX: FSF)
CI First Asset Morningstar US Dividend Target 50 Index ETF (TSX: UXM, UXM.B)	CI WisdomTree U.S. Quality Dividend Growth Index ETF (TSX: DGR, DGR.B)

Upon completion of the Mergers, unitholders of the Terminating ETFs will receive the equivalent dollar value of units in the corresponding class or series of the applicable Continuing ETF. The Mergers, other than the proposed merger of CI First Asset European Bank ETF, will not result in a taxable disposition for unitholders, but certain ETFs are expected to pay a distribution when the Mergers take place. The merger of CI First Asset European Bank ETF is expected to take place on a taxable basis and would be considered a disposition for tax purposes.