2016 Simplified Prospectus – dated July 27, 2016

Transcription

2016 Simplified Prospectus – dated July 27, 2016
Equity Funds
Black Creek Global Leaders Fund (Class A, AT6, E, EF, F, I and O units)
Black Creek International Equity Fund (Class A, AT6, E, EF, F, I and O units)
Cambridge American Equity Fund (Class A, E, EF, F, I and O units)
Cambridge Canadian Dividend Fund (Class A, E, EF, F, I and O units)
Cambridge Canadian Growth Companies Fund (Class A, AT6, E, EF,
F and O units)
Cambridge Global Dividend Fund (Class A, E, EF, F, I and O units)
Cambridge Pure Canadian Equity Fund (Class A, E, EF, F, I and O units)
Cambridge Stock Selection Fund (formerly Cambridge Analyst Fund)
(Class I units)
Cambridge U.S. Dividend Fund (Class A, AT6, E, EF, F, I and O units)
Cambridge U.S. Dividend Registered Fund (Class A, E, EF, F, I and O units)
Cambridge U.S. Dividend US$ Fund (Class A, E, EF, F, I and O units)
CI American Small Companies Fund (Class A, E, EF, F, I and O units)
CI American Value Fund (Class A, E, EF, F, I, O and Insight units)
CI Canadian Dividend Fund (Class A, AT6, E, EF, F, I and O units)
CI Canadian Investment Fund (Class A, E, EF, F, I, O and Insight units)
CI Canadian Small/Mid Cap Fund (Class A, E, EF, F, I and O units)
CI Global Fund (Class A, E, EF, F, I, O and Insight units)
CI Global High Dividend Advantage Fund (Class A, E, F, I and O units)
CI Global Small Companies Fund (Class A, E, EF, F, I, O and Insight units)
CI Global Value Fund (Class A, E, EF, F, I and O units)
CI International Value Fund (Class A, E, EF, F, I, O and Insight units)
CI Pacific Fund (Class A, E, EF, F, I and O units)
Harbour Fund (Class A, E, EF, F, I and O units)
Signature Emerging Markets Fund (Class A, E, EF, F, I and O units)
Signature Global Dividend Fund (Class A, E, EF, F, I and O units)
Signature Global Resource Fund (Class A, E, EF, F and O units)
Signature International Fund (Class A, E, EF, F, I, O and Insight units)
Signature Real Estate Pool (Class A, E, EF, F, I and O units)
Signature Select Canadian Fund (Class A, E, EF, F, I, O and Insight units)
Signature Select Global Fund (Class A, E, EF, F, I and O units)
Synergy American Fund (Class A, E, EF, F, I and O units)
Balanced Funds
Black Creek Global Balanced Fund (Class A, AT6, E, EF, F, I and O units)
Harbour Growth & Income Fund (Class A, E, EF, F, I and O units)
Signature Canadian Balanced Fund (Class A, AT6, E, EF, F, I and O units)
Signature Global Income & Growth Fund (Class A, E, EF, F, I and O units)
CI Funds
Signature Income & Growth Fund (Class A, AT6, E, EF, F, I and O units)
Synergy Tactical Asset Allocation Fund (Class A, E, EF, F, I and O units)
Income / Specialty Funds
Cambridge Global High Income Fund (formerly Cambridge High Income Fund)
(Class A, E, EF, F, I and O units)
Cambridge Income Fund (Class A, E, F and O units)
CI Income Fund (Class A, E, EF, F, I and O units)
CI U.S. Income US$ Pool (Class A, E, EF, F, I and O units)
CI Investment Grade Bond Fund (Class A, E, EF, F, I and O units)
CI Money Market Fund (Class A, E, EF F, I, O and Insight units)
CI US Money Market Fund (Class A and I units)
Lawrence Park Strategic Income Fund (Class A, E, EF, F, I and O units)
Marret High Yield Bond Fund (Class A, E, EF, F, I and O units)
Marret Short Duration High Yield Fund (Class A, E, EF, F, I and O units)
Marret Strategic Yield Fund (Class A, E, EF, F, I and O units)
Signature Canadian Bond Fund (Class A, E, EF, F, I, O and Insight units)
Signature Corporate Bond Fund (Class A, E, EF, F, I, O and Insight units)
Signature Diversified Yield Fund (Class A, E, F, I and O units)
Signature Diversified Yield II Fund (Class A, E, EF, F, I and O units)
Signature Dividend Fund (Class A, E, EF, F, I and O units)
Signature Global Bond Fund (Class A, E, EF, F, I, O and Insight units)
Signature High Income Fund (Class A, E, EF, F, I and O units)
Signature High Yield Bond Fund (Class A, E, F, I and O units)
Signature High Yield Bond II Fund (Class A, E, EF, F, I and O units)
Signature Preferred Share Pool (Class A, E, EF, F, I and O units)
Signature Short-Term Bond Fund (Class A, E, EF, F, I and O units)
Signature Tactical Bond Pool (Class A, E, EF, F, I and O units)
Portfolio Series
Portfolio Series Balanced Fund (Class A, AT5, AT8, E, ET5, ET8, EF, EFT5, EFT8, F,
FT5, FT8, I, O, OT5 and OT8 units)
Portfolio Series Balanced Growth Fund (Class A, AT5, AT6, AT8, E, ET5, ET8, EF,
EFT5, EFT8, F, FT8, I, O, OT5 and OT8 units)
Portfolio Series Conservative Fund (Class A, AT6, E, EF, F, I and O units)
Portfolio Series Conservative Balanced Fund (Class A, AT6, E, EF, F, I and O units)
Portfolio Series Growth Fund (Class A, AT5, AT6, AT8, E, ET5, ET8, EF, EFT5, EFT8,
F, FT8, I, O, OT5 and OT8 units)
Portfolio Series Income Fund (Class A, E, EF, F, I and O units)
Portfolio Series Maximum Growth Fund (Class A, AT5, AT8, E, ET5, ET8, EF, EFT5,
EFT8, F, FT8, I, O, OT5 and OT8 units)
No securities regulatory authority has expressed an opinion about these units and shares.
It is an offence to claim otherwise.
Table of Contents
Part A
Part B (cont’d)
Introduction 1
What is a Mutual Fund and What are the Risks
of Investing in a Mutual Fund?
2
Organization and Management of the Funds
10
Purchases, Switches and Redemptions
12
Optional Services
CI Canadian Investment Fund (Class A, E, EF, F, I, O and Insight units) 41
CI Canadian Small/Mid Cap Fund (Class A, E, EF, F, I and O units)
44
CI Global Fund (Class A, E, EF, F, I, O and Insight units)
47
CI Global High Dividend Advantage Fund (Class A, E, F, I and O units) 50
27
CI Global Small Companies Fund (Class A, E, EF, F, I,
O and Insight units)
53
Fees and Expenses
31
CI Global Value Fund (Class A, E, EF, F, I and O units)
56
Dealer Compensation
46
CI International Value Fund (Class A, E, EF, F, I, O and Insight units)
58
Canadian Federal Income Tax Considerations for Investors
49
61
What are Your Legal Rights?
54
63
65
55
Signature Emerging Markets Fund (Class A, E, EF, F, I and O units)
Signature Global Dividend Fund (Class A, E, EF, F, I and O units)
Signature Global Resource Fund (Class A, E, EF, F and O units)
71
Signature International Fund (Class A, E, EF, F, I, O and Insight units)
73
Signature Real Estate Pool (Class A, E, EF, F, I and O units)
76
Signature Select Canadian Fund (Class A, E, EF, F, I,
78
Signature Select Global Fund (Class A, E, EF, F, I and O units)
81
Synergy American Fund (Class A, E, EF, F, I and O units)
84
Black Creek Global Balanced Fund (Class A, AT6, E, EF, F,
I and O units)
86
Harbour Growth & Income Fund (Class A, E, EF, F, I and O units)
89
Signature Canadian Balanced Fund (Class A, AT6, E, EF, F,
I and O units)
92
Signature Global Income & Growth Fund (Class A, E, EF, F,
I and O units)
95
Specific Information About Each of the Mutual Funds
Described in this Document
Part B
Black Creek Global Leaders Fund (Class A, AT6, E, EF, F, I and O units) 1
Black Creek International Equity Fund (Class A, AT6, E, EF, F,
I and O units)
4
Cambridge American Equity Fund (Class A, E, EF, F, I and O units)
7
Cambridge Canadian Dividend Fund (Class A, E, EF, F, I and O units)
9
Cambridge Canadian Growth Companies Fund (Class A, AT6, E,
EF, F and O units)
12
Cambridge Global Dividend Fund (Class A, E, EF, F, I and O units) 15
Cambridge Pure Canadian Equity Fund (Class A, E, EF, F,
I and O units)
18
Cambridge Stock Selection Fund
(formerly Cambridge Analyst Fund) (Class I units)
21
Cambridge U.S. Dividend Fund (Class A, AT6, E, EF, F, I and O units)
24
68
Signature Income & Growth Fund (Class A, AT6, E, EF, F, I and O units) 98
Cambridge U.S. Dividend Registered Fund (Class A, E, EF, F,
I and O units)
27
Cambridge U.S. Dividend US$ Fund (Class A, E, EF, F, I and O units)
30
CI American Small Companies Fund (Class A, E, EF, F, I and O units)
Synergy Tactical Asset Allocation Fund (Class A, E, EF, F,
I and O units)
101
33
Cambridge Global High Income Fund (formerly Cambridge
High Income Fund) (Class A, E, EF, F, I and O units)
104
CI American Value Fund (Class A, E, EF, F, I, O and Insight units)
35
107
CI Canadian Dividend Fund (Class A, AT6, E, EF, F, I and O units)
38
Table of Contents
Part B (cont’d)
Part B (cont’d)
112
CI U.S. Income US$ Pool (Class A, E, EF, F, I and O units)
115
CI Investment Grade Bond Fund (Class A, E, EF, F, I and O units) 118
CI Money Market Fund (Class A, E, EF F, I, O and Insight units)
121
123
Lawrence Park Strategic Income Fund (Class A, E, EF, F, I and O units) 125
Marret High Yield Bond Fund (Class A, E, EF, F, I and O units)
128
Marret Short Duration High Yield Fund (Class A, E, EF, F, I and O units) 130
Marret Strategic Yield Fund (Class A, E, EF, F, I and O units)
132
Signature Canadian Bond Fund (Class A, E, EF, F, I,
135
Signature Corporate Bond Fund (Class A, E, EF, F, I,
138
Signature Diversified Yield Fund (Class A, E, F, I and O units)
141
Signature Diversified Yield II Fund (Class A, E, EF, F, I and O units)
144
Signature Dividend Fund (Class A, E, EF, F, I and O units)
147
Signature Global Bond Fund (Class A, E, EF, F, I, O and Insight units)
Signature High Income Fund (Class A, E, EF, F, I and O units)
150
153
Signature High Yield Bond Fund (Class A, E, F, I and O units)
156
Signature High Yield Bond II Fund (Class A, E, EF, F, I and O units)
161
Signature Preferred Share Pool (Class A, E, EF, F, I and O units)
164
Signature Short-Term Bond Fund (Class A, E, EF, F, I and O units)
167
Signature Tactical Bond Pool (Class A, E, EF, F, I and O units)
169
Portfolio Series Balanced Fund (Class A, AT5, AT8, E, ET5,
ET8, EF, EFT5, EFT8, F, FT5, FT8, I, O, OT5 and OT8 units)
172
Portfolio Series Balanced Growth Fund (Class A, AT5, AT6,
AT8, E, ET5, ET8, EF, EFT5, EFT8, F, FT8, I, O, OT5 and OT8 units)
175
Portfolio Series Conservative Fund (Class A, AT6, E, EF, F,
I and O units)
178
Portfolio Series Conservative Balanced Fund (Class A, AT6, E,
EF, F, I and O units)
181
Portfolio Series Growth Fund (Class A, AT5, AT6, AT8, E, ET5,
ET8, EF, EFT5, EFT8, F, FT8, I, O, OT5 and OT8 units)
184
Portfolio Series Income Fund (Class A, E, EF, F, I and O units)
187
Portfolio Series Maximum Growth Fund (Class A, AT5, AT8, E,
ET5, ET8, EF, EFT5, EFT8, F, FT8, I, O, OT5 and OT8 units)
190
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim
otherwise.
PART A
Simplified Prospectus dated July 27, 2016
Equity Funds
Cambridge Pure Canadian Equity Fund (Class A, E,
EF, F, I, O units)
Cambridge Pure Canadian Equity Corporate Class
(A, AT5, AT8, E, ET5, ET8, EF, EFT5, EFT8, F,
FT5, FT8, I, IT8, O, OT5 and OT8 shares)
Cambridge Stock Selection Fund (formerly
Cambridge Analyst Fund) (Class I units)
Cambridge U.S. Dividend Fund (Class A, AT6, D, E,
Cambridge U.S. Dividend Registered Fund (Class A,
E, EF, F, I, and O units)
Cambridge U.S. Dividend US$ Fund (Class A, E, EF,
F, I and O units)
CI American Managers® Corporate Class (A, AT8,
E, ET8, EF, EFT8, F, I, IT8, O and OT8 shares)
CI American Small Companies Fund (Class A, E, EF,
F, I and O units)
CI American Small Companies Corporate Class (A,
AT8, E, ET8, EF, EFT8, F, I, IT8, O and OT8
shares)
CI American Value Fund (Class A, E, EF, F, I, O and
Insight units)
CI American Value Corporate Class (A, AT5, AT8,
E, ET5, ET8, EF, EFT5, EFT8, F, FT5, FT8, I, IT8,
O, OT5 and OT8 shares)
CI Can-Am Small Cap Corporate Class (A, AT8, E,
ET8, EF, EFT8, F, I, IT8, O and OT8 shares)
CI Canadian Dividend Fund (Class A, AT6, D, E, EF,
F, I and O units)
CI Canadian Investment Fund (Class A, E, EF, F, I,
CI Canadian Investment Corporate Class (A, AT5,
AT6, AT8, D, E, ET5, ET8, EF, EFT5, EFT8, F,
FT5, FT8, I, IT8, O, OT5 and OT8 shares)
CI Canadian Small/Mid Cap Fund (Class A, E, EF, F,
I and O units)
CI Global Fund (Class A, E, EF, F, I, O and Insight
units)
Black Creek Global Leaders Fund (Class A, AT6, D,
E, EF, F, I, and O units)
Black Creek Global Leaders Corporate Class (A,
AT5, AT8, E, ET5, ET8, EF, EFT5, EFT8, F, FT5,
FT8, I, IT8, O, OT5 and OT8 shares)
Black Creek International Equity Fund (Class A,
AT6, E, EF, F, I and O units)
Black Creek International Equity Corporate Class (A,
Cambridge American Equity Fund (Class A, E, EF,
F, I and O units)
Cambridge American Equity Corporate Class (A,
Cambridge Canadian Dividend Fund (Class A, D, E,
Cambridge Canadian Dividend Corporate Class (A,
Cambridge Canadian Equity Corporate Class (A,
AT5, AT6, AT8, D, E, ET5, ET8, EF, EFT5, EFT8,
F, FT5, FT8, I, IT5, IT8, O, OT5, OT8, Y and Z
shares)
Cambridge Canadian Growth Companies Fund (Class
A, AT6, E, EF, F and O units)
Cambridge Global Dividend Fund (Class A, E, EF, F,
I and O units)
Cambridge Global Dividend Corporate Class (A,
FT8, I, IT8, O, OT5, and OT8 shares)
Cambridge Global Equity Corporate Class (A, AT5,
AT8, E, ET5, ET8, EF, EFT5, EFT8, F, FT5, FT8,
I, IT8, O, OT5, OT8, and W shares)
Cambridge Growth Companies Corporate Class (A,
I, IT8, O, OT5 and OT8 shares)
i - Part A
Signature Global Science & Technology Corporate
Class (A, E, EF, F, I and O shares)
Signature International Fund (Class A, E, EF, F, I, O
and Insight units)
Signature International Corporate Class (A, AT5,
AT8, E, ET5, ET8, EF, EFT5, EFT8, F, I, IT8, O,
OT5 and OT8 shares)
Signature Real Estate Pool (Class A, E, EF, F, I and
O units)
Signature Select Canadian Fund (Class A, E, EF, F, I,
O, Z and Insight units)
Signature Select Canadian Corporate Class (A, AT5,
I, IT5, IT8, O, OT5 and OT8 shares)
Signature Select Global Fund (Class A, E, EF, F, I
and O units)
Signature Select Global Corporate Class (A, AT5,
AT8, E, EF, ET5, ET8, EFT5, EFT8, F, FT8, I, IT8,
Synergy American Fund (Class A, E, EF, F, I and O
units)
Synergy American Corporate Class (A, AT8, E, ET8,
EF, EFT8, F, I, IT8, O and OT8 shares)
Synergy Canadian Corporate Class (A, AT8, E, ET8,
EF, EFT8, F, I, IT8, O, OT8, Y, Z and Insight
shares)
Synergy Global Corporate Class (A, AT5, AT8, E,
ET5, ET8, EF, EFT5, EFT8, F, I, IT8, O, OT5,
OT8, Y and Z shares)
CI Global Corporate Class (A, AT5, AT8, E, ET5,
ET8, EF, EFT5, EFT8, F, FT8, I, IT8, O, OT5 and
OT8 shares)
CI Global Health Sciences Corporate Class (A, E,
EF, F, I, O, Y and Z shares)
CI Global High Dividend Advantage Fund (Class A,
E, F, I and O units)
CI Global High Dividend Advantage Corporate Class
(A, AT5, AT8, E, ET5, ET8, F, FT5, FT8, I, O,
OT5 and OT8 shares)
CI Global Managers® Corporate Class (A, AT8, E,
ET8, EF, EFT8, F, I, IT8, O and OT8 shares)
CI Global Small Companies Fund (Class A, E, EF, F,
I, O and Insight units)
CI Global Small Companies Corporate Class (A,
shares)
CI Global Value Fund (Class A, E, EF, F, I and O
units)
CI Global Value Corporate Class (A, AT5, AT8, E,
ET5, ET8, EF, EFT5, EFT8, F, I, IT8, O, OT5 and
OT8 shares)
CI International Value Fund (Class A, E, EF, F, I, O
and Insight units)
CI International Value Corporate Class (A, AT5,
OT5 and OT8 shares)
CI Pacific Corporate Class (A, E, EF, F and O shares)
Harbour Corporate Class (A, AT5, AT8, E, ET5,
ET8, EF, EFT5, EFT8, F, FT5, FT8, I, IT8, O, OT5
and OT8 shares)
Harbour Global Equity Corporate Class (A, AT5,
Harbour Voyageur Corporate Class (A, AT5, AT8, E,
ET5, ET8, EF, EFT5, EFT8, F, FT8, I, IT8, O, OT5
and OT8 shares)
Signature Emerging Markets Fund (Class A, E, EF,
F, I and O units)
Signature Emerging Markets Corporate Class (A,
shares)
Signature Global Dividend Fund (Class A, E, EF, F, I
and O units)
Signature Global Dividend Corporate Class (A, AT5,
I, IT8, O, OT5, OT8 shares)
Signature Global Energy Corporate Class (A, E, EF,
F and O shares)
Signature Global Resource Fund (Class A, E, EF, F,
and O units)
Signature Global Resource Corporate Class (A, E, EF
F, I and O shares)
Balanced Funds
Black Creek Global Balanced Fund (Class A, AT6,
D, E, EF, F, I and O units)
Black Creek Global Balanced Corporate Class (A,
FT8, I, O, OT5 and OT8 shares)
Cambridge Asset Allocation Corporate Class (A,
FT8, I, IT5, IT8, O, OT5 and OT8 shares)
Harbour Global Growth & Income Corporate Class
FT5, FT8, I, IT5, IT8, O, OT5 and OT8 shares)
Harbour Growth & Income Fund (Class A, E, EF, F,
I, O and Z units)
Harbour Growth & Income Corporate Class (A, AT5,
I, IT5, IT8, O, OT5 and OT8 shares)
Signature Canadian Balanced Fund (Class A, AT6,
D, E, EF, F, I, O, U, Y and Z units)
Signature Global Income & Growth Fund (Class A,
E, EF, F, I and O units)
Signature Global Income & Growth Corporate Class
FT5, FT8, I, IT5, IT8, O, OT5 and OT8 shares)
ii - Part A
Signature Dividend Fund (Class A, E, EF, F, I, O and
Z units)
Signature Dividend Corporate Class (A, AT5, AT8,
E, ET5, ET8, EF, EFT5, EFT8, F, FT5, FT8, I, IT8,
Signature Global Bond Fund (Class A, E, EF, F, I, O
and Insight units)
Signature Global Bond Corporate Class (A, AT5,
OT5 and OT8 shares)
Signature Gold Corporate Class (A, E, EF, F, I and O
shares)
Signature High Income Fund (Class A, E, EF, F, I
and O units)
Signature High Income Corporate Class (A, AT5,
Signature High Yield Bond Fund (Class A, E, F, I
and O units)
Signature High Yield Bond Corporate Class (A, AT5,
AT8, E, ET8, F, FT5, FT8, O and OT8 shares)
Signature High Yield Bond II Fund (Class A, E, EF,
F, I and O units)
Signature Preferred Share Pool (Class A, E, EF, F, I
and O units)
Signature Short-Term Bond Fund (Class A, E, EF, F,
I and O units)
Signature Tactical Bond Pool (Class A, E, EF, F, I
and O units)
Signature Income & Growth Fund (Class A, AT6, E,
Signature Income & Growth Corporate Class (A,
FT8, I, IT5, IT8, O, OT5 and OT8 shares)
Synergy Tactical Asset Allocation Fund (Class A, E,
Cambridge Global High Income Fund (formerly
Cambridge High Income Fund) (Class A, E, EF, F,
I and O units)
Cambridge Income Corporate Class (A, AT5, AT8,
E, ET5, ET8, F, FT5, FT8, O, OT5 and OT8 shares)
CI Investment Grade Bond Fund (Class A, E, EF, F, I
and O units)
CI Money Market Fund (Class A, E, EF F, I, O, Z
and Insight units)
CI Short-Term Advantage Corporate Class (A, AT8,
E, F, I, IT8 and O shares)
CI Short-Term Corporate Class (A, E, EF, F, I and O
shares)
CI Short-Term US$ Corporate Class (A, E and O
shares)
CI U.S. Income US$ Pool (Class A, E, EF, F, I and O
units)
Lawrence Park Strategic Income Fund (Class A, E,
Marret High Yield Bond Fund (Class A, E, EF, F, I
and O units)
Marret Short Duration High Yield Fund (Class A, E,
Marret Strategic Yield Fund (Class A, E, EF, F, I and
O units)
Signature Canadian Bond Fund (Class A, E, EF, F, I,
O, Y, Z and Insight units)
Signature Canadian Bond Corporate Class (A, AT5,
OT5 and OT8 shares)
Signature Corporate Bond Fund (Class A, E, EF, F, I,
O, Z and Insight units)
Signature Corporate Bond Corporate Class (A, AT5,
I, IT8, O, OT5, and OT8 shares)
Signature Diversified Yield Fund (Class A, E, F, I
and O units)
Signature Diversified Yield Corporate Class (A, AT5,
AT8, E, ET5, ET8, F, FT5, FT8, I, IT5, IT8, O,
OT5 and OT8 shares)
Signature Diversified Yield II Fund (Class A, E, EF,
F, I and O units)
Portfolio Series
Portfolio Series Balanced Fund (Class A, AT5, AT8,
E, ET5, ET8, EF, EFT5, EFT8, F, FT5, FT8, I, O,
OT5 and OT8 units)
Portfolio Series Balanced Growth Fund (Class A,
AT5, AT6, AT8, E, ET5, ET8, EF, EFT5, EFT8, F,
FT8, I, O, OT5 and OT8 units)
Portfolio Series Conservative Balanced Fund (Class
A, AT6, E, EF, F, I and O units)
Portfolio Series Conservative Fund (Class A, AT6, E,
EF, F, I, O, U, UT6 and Z units)
Portfolio Series Growth Fund (Class A, AT5, AT6,
AT8, E, ET5, ET8, EF, EFT5, EFT8, F, FT8, I, O,
OT5 and OT8 units)
Portfolio Series Income Fund (Class A, E, EF, F, I
and O units)
Portfolio Series Maximum Growth Fund (Class A,
I, O, OT5 and OT8 units)
Portfolio Select Series
Select 80i20e Managed Portfolio Corporate Class (A,
FT8, I, IT8, O, OT5, OT8, W, WT5 and WT8
shares)
iii - Part A
FT8, I, IT8, O, OT5, OT8, W and WT8 shares)
shares)
FT8, I, IT8, O, OT5, OT8, W and WT8 shares)
shares)
I, IT8, O, OT5, OT8, W and WT5 shares)
I, IT8, O, OT5, OT8, and W shares)
Select 100e Managed Portfolio Corporate Class (A,
FT8, I, IT5, IT8, O, OT5, OT8, W, and WT8
shares)
Select Canadian Equity Managed Corporate Class (A,
E, EF, F, I, O, V, W, Y and Z shares)
Select Income Managed Corporate Class (A, AT5,
I, IT5, IT8, O, OT5, OT8, U, V, W, WT5, WT8, Y
and Z shares)
Select International Equity Managed Corporate Class
(A, E, EF, F, I, O, V, W, Y and Z shares)
Select U.S. Equity Managed Corporate Class (A, E,
EF, F, I, O, V, W, Y and Z shares)
Select Staging Fund (Class A, F, I and W units)
A complete simplified prospectus for the mutual funds listed above consists of this document and an
additional disclosure document that provides specific information about the mutual funds in which you
are investing. This document provides general information applicable to all of the CI Funds. When you
request a simplified prospectus, you must be provided with the additional disclosure document.
iv - Part A
TABLE OF CONTENTS
PAGE
Introduction ................................................................................................................................................................. 1
What is a Mutual Fund and What are the Risks of Investing in a Mutual Fund? ........................................................ 2
Organization and Management of the Funds ............................................................................................................. 10
Purchases, Switches and Redemptions ...................................................................................................................... 12
Optional Services ....................................................................................................................................................... 27
Fees and Expenses ..................................................................................................................................................... 31
Dealer Compensation ................................................................................................................................................ 46
Canadian Federal Income Tax Considerations for Investors ..................................................................................... 49
What are Your Legal Rights? .................................................................................................................................... 54
Specific Information About Each of the Mutual Funds Described in this Document ............................................... 55
v - Part A
Introduction
In this document, “we”, “us”, and “our” refer to CI
Investments Inc., the manager of the funds. A “fund”
is any of the mutual funds described in this simplified
prospectus. A “Corporate Class” refers to the assets
and liabilities attributable to the classes of convertible
special shares of CI Corporate Class Limited that
have the same investment objectives and strategies.
A “trust fund” is a fund that is not a Corporate Class.
A “Portfolio” refers to any of the funds that make up
the Portfolio Series. A “Select Fund” refers to any of
the funds that make up the Portfolio Select Series (or
“PSS”). An “affiliated firm” means a dealer affiliated
with us, through whom PSS as a PSS Managed
Account (to be further discussed) is exclusively
available. “PIM” refers to the Private Investment
Management program. A “representative” is an
individual working as a broker, financial planner or
other person who is qualified to sell the funds
described in this document. A “dealer” is the firm
with which your representative works.
Additional information about each fund is available
in the following documents:
 the annual information form;
 the most recently-filed fund facts;
 the fund’s most recently-filed annual financial
statements;
 any interim financial statements filed after those
annual financial statements;
 the most recently-filed annual management report
of fund performance; and
 any interim report of fund performance filed after
that annual management report of fund
performance.
These documents are incorporated by reference into
this simplified prospectus which means they legally
form part of this simplified prospectus just as if they
were printed in it.
The simplified prospectus contains selected important
information to help you make an informed
investment decision about the funds and to
understand your rights as an investor.
You can get a copy of these documents at your
request, and at no cost, by calling 1-800-792-9355,
by e-mailing [email protected], or by asking your
representative. You will also find these documents on
our website at www.ci.com.
The simplified prospectus of the funds is divided into
two parts: Part A and Part B. Part A, which is this
document, explains what mutual funds are, the
different risks you could face when investing in
mutual funds, and general information that applies to
all of the funds. Part B, which is a separate
document, contains specific information about each
of the funds. When you request a simplified
prospectus, you must be provided with both the Part
A and Part B of the simplified prospectus.
These documents and other information about the
funds are also available at www.sedar.com.
1 - Part A
What is a Mutual Fund and What are the Risks
of Investing in a Mutual Fund?
Building an investment portfolio is one of the most
important financial decisions you can make.
Choosing the right investments can help you achieve
your financial goals, such as preparing for retirement
or saving for a child’s education.
 Accessibility. You can sell your investment back
to the mutual fund at any time. This is called a
“redemption”, and in some cases may result in a
redemption fee or a short-term trading fee. With
many other investments, your money is locked in
or you have to find a specific buyer before you
can sell.
However, investing successfully can be difficult to do
on your own. You need accurate and timely
information along with the right experience to build
and maintain a portfolio of individual investments.
 Record keeping and reporting. Mutual fund
companies use sophisticated record keeping
systems and send you regular financial statements,
tax slips and reports.
Mutual funds can make it easier.
A mutual fund brings together many different
investors with similar goals. Each investor puts
money into the fund. A professional portfolio advisor
uses that cash to buy a variety of investments for the
fund, depending on the fund’s objectives.
Mutual funds are not guaranteed
While mutual funds have many advantages, it is
important to remember that an investment in a mutual
fund is not guaranteed. Unlike bank accounts or
guaranteed investment certificates, mutual fund
investments are not covered by the Canada Deposit
Insurance Corporation or any other government
deposit insurer.
When the investments make money, everyone who
invests in the fund benefits. If the value of the
investments falls, everyone shares in the loss. The
size of your share depends on how much you
invested. The more you put in, the more units or
shares of the fund you own and the greater your
portion of the gains or losses. Mutual fund investors
also share the fund’s expenses.
Under exceptional circumstances, a fund may
suspend your right to sell your investment. See
“Purchases, Switches and Redemptions - Suspending
your right to sell units or shares” on page 25 for
details.
Most mutual funds invest in securities like stocks,
bonds and money market instruments. The funds
also may invest in other mutual funds or, on some or
all of their assets, obtain exposure to other mutual
funds managed by us, called “underlying funds”.
Risk and potential return
As with most other investments, mutual funds come
with a certain amount of risk. Mutual funds own
different types of investments, depending on their
investment objective. The value of the investments
in a mutual fund changes from day to day because of
changes in interest rates, economic conditions and
market or company news. As a result, the value of
mutual fund units or shares will vary. When you sell
your units or shares of a fund, you could get less
money than you put in.
Advantages of mutual funds
Investing in a mutual fund has several advantages
over investing in individual stocks, bonds and money
market instruments on your own:
 Professional money management. Professional
portfolio advisors have the skills and the time to
do research and make decisions about which
investments to buy, hold or sell.
The amount of risk depends on the kind of fund you
buy. Money market funds generally have low risk.
They hold relatively safe short-term investments such
as government treasury bills and other high quality
money market instruments. Income funds, which
typically invest in bonds, have a higher amount of
risk because their prices can change when interest
rates change. Equity funds generally have the highest
 Diversification. Investment values are always
changing. Owning several investments can
improve long-term results because the ones that
increase in value can compensate for those that do
not. Mutual funds typically hold 30 or more
different investments.
2 - Part A
in part, of return of capital. A return of capital
distribution is a return of a portion of an investor’s
original investment and may, over time, result in the
return of the entire amount of the original investment
to the investor. This distribution should not be
confused with yield or income generated by a fund.
Return of capital distributions that are not reinvested
will reduce the net asset value of the fund, which
could reduce the fund’s ability to generate future
income. For more information on the tax implications
of return of capital distributions, please refer to the
section entitled “Canadian federal income tax
considerations for investors - Distributions and
dividends” on page 51.
risk because they invest mostly in stocks whose
prices can rise and fall daily.
Before you invest in a mutual fund, you need to
decide what level of risk you are comfortable with.
The answer depends in part on the kind of returns you
expect. Generally, higher risk investments have a
higher potential for gains and losses, while lower risk
investments have a lower potential for gains and
losses.
Another important factor is time. Think about how
soon you will need the money. If you are saving to
buy a house in the near future, you will probably
want a lower risk investment to reduce the chance of
the fund value dropping just when you need the cash.
If you are investing for retirement in 20 years, your
investment horizon is much longer. You may be able
to afford to put more emphasis on equity funds
because there is more time for the funds to recover if
prices should fall.
Changes in legislation risk
There can be no assurance that tax, securities and
other laws or the interpretation and application of
such laws by courts or government authorities will
not be changed in a manner which adversely affects a
mutual fund’s unitholders or shareholders.
But potential return and your time horizon are not the
only yardsticks for successful investing. Your choice
of fund also depends on how you feel about risk. An
investor who checks fund prices every week and
worries when investments temporarily lose value has
low risk tolerance. If that describes you, you might be
more comfortable with money market funds, bond
funds, balanced funds and perhaps very conservative
equity funds. An investor who is willing to take on
more risk might prefer a higher proportion of equity
funds or more aggressive funds that specialize in one
industry or country.
Class risk
Mutual funds sometimes issue different classes of
units or shares of the same mutual fund. Each class
has its own fees and expenses, which the mutual fund
tracks separately. However, if one class is unable to
meet its financial obligations, the other classes are
legally responsible for making up the difference.
Commodity risk
Some mutual funds may invest directly or indirectly
in commodities, or gain exposure to commodities by
investing in companies engaged in commodityfocused industries or by using exchange traded funds.
Commodity prices can fluctuate significantly in short
time periods, which will have a direct or indirect
impact on the value of the fund. Commodity prices
can change as a result of a number of factors
including supply and demand, government and
regulatory matters, speculation,
international
monetary and political factors, central bank activity
and changes in interest rates and currency values.
Direct investments in bullion may generate higher
transaction and custody costs.
Below are some of the most common risks that affect
value. To find out which of these specific risks apply
to a fund you are considering, see the individual fund
descriptions in Part B of the simplified prospectus.
Types of risk
Each fund is subject to “class risk”, “changes in
legislation risk”, “exchange-traded fund risk” (other
than money market funds), “market risk” and
“underlying fund risk” (as described below). In
addition, all AT5, AT6, AT8, ET5, ET8, EFT5,
EFT8, FT5, FT8, IT5, IT8, OT5, OT8, UT6, WT5
and WT8 shares or units have “capital depreciation
risk” (as described below).
Concentration risk
Some mutual funds hold significant investments in a
few companies, rather than investing the mutual
fund’s assets across a large number of companies. In
some cases, more than 10% of the net assets of the
mutual fund may be invested in securities of a single
issuer as a result of appreciation in value of such
investment and/or the liquidation or decline in value
of other investments. The investment portfolios of
The more-specific information in Part B of the
simplified prospectus indicates which of the other
investment risks listed below apply (or may apply) to
each fund:
Capital depreciation risk
Some mutual funds and/or some classes of a mutual
fund may make distributions comprised in whole or
3 – Part A
these mutual funds are less diversified, and therefore
are potentially subject to larger changes in value than
mutual funds which hold more broadly-diversified
investment portfolios.
 the price of a derivative might not reflect the true
value of the underlying security or index;
 the price of a derivative based on a stock index
could be distorted if some or all of the stocks that
make up the index temporarily stop trading;
Credit risk
When a company or government issues a fixed
income security, it promises to pay interest and repay
a specified amount on the maturity date. Credit risk is
the risk that the company or government will not live
up to that promise. Credit risk is lowest among
issuers that have good credit ratings from recognized
credit rating agencies. The riskiest fixed income
securities are those with a low credit rating or no
credit rating at all. These securities usually offer
higher interest rates to compensate for the increased
risk.
 derivatives traded on foreign markets may be
harder to close than those traded in North
American markets;
 gains or losses from derivatives contracts may
result in fluctuations in a fund’s taxable income.
As a result, a fund that uses derivatives in a given
taxation year may have larger or smaller
distributions in that taxation year, an inability to
make a regular distribution and/or distributions
which include a return of capital; and
 in some circumstances, investment dealers,
futures brokers and counterparties may hold some
or all of a mutual fund’s assets on deposit as
collateral in a derivative contract. This increases
risk because another party is responsible for the
safekeeping of the mutual fund’s assets.
Currency risk
When a mutual fund buys an investment priced in a
foreign currency and the exchange rate between the
Canadian dollar and the foreign currency changes
unfavourably, it could reduce the value of the mutual
fund’s investment.
Of course, changes in the
exchange rate can also increase the value of an
investment. For example, if the U.S. dollar falls in
value relative to the Canadian dollar, a U.S. dollardenominated investment will be worth less for a fund
based in Canadian dollars. On the other hand, if the
U.S. dollar rises in value relative to the Canadian
dollar, a U.S. dollar-denominated investment will be
worth more for a fund based in Canadian dollars.
Emerging market risk
In emerging market countries, securities markets may
be smaller than in more developed countries, making
it more difficult to sell securities in order to take
profits or avoid losses. The value of mutual funds
that buy these investments may rise and fall
substantially and fluctuate greatly from time to time.
Equity risk
Equities such as common shares give you part
ownership in a company. The value of an equity
security changes with the fortunes of the company
that issued it. General market conditions and the
health of the economy as a whole can also affect
equity prices. The price of equity securities of certain
companies or companies within a particular industry
may fluctuate differently than the value of the overall
stock market because of changes in the outlook for
those individual companies or the particular industry.
Equity-related securities, which give you indirect
exposure to the equities of a company, can also be
affected by equity risk. Examples of equity-related
securities are warrants and convertible securities.
Derivatives risk
Mutual funds may use derivatives to protect against
losses from changes in stock prices, exchange rates or
market indices. This is called “hedging”. Mutual
funds may also use derivatives to make indirect
investments. For more information about how the
funds use derivatives, see page 55.
The use of derivatives comes with a number of risks:
 hedging with derivatives may not always work
and it could restrict a mutual fund’s ability to
increase in value;
 there is no guarantee that a mutual fund will be
able to obtain a derivative contract when it needs
to, and this could prevent the mutual fund from
making a profit or limiting a loss;
Exchange-traded fund (ETF) risk
A mutual fund may invest in an underlying fund
whose securities are listed for trading on an exchange
(an “exchange-traded fund” or “ETF”).
The
investments of ETFs may include stocks, bonds, gold,
silver, and other financial instruments. Some ETFs,
known as index participation units (“IPUs”), attempt
 a securities exchange could impose limits on
trading of derivatives, making it difficult to
complete a contract;
 the other party in the derivative contract might not
be able to honour the terms of the contract;
4 – Part A
and there is often less available information about
individual investments. Volume and liquidity in some
foreign stock and bond markets are less than in
Canadian and the U.S. stock and bond markets and, at
times, price volatility can be greater than in the
Canadian and U.S. markets. In some countries, there
is a risk of nationalization, expropriation or currency
controls. It can be difficult to trade investments on
foreign markets and the laws of some countries do
not fully protect investor rights. These risks and
others can contribute to larger and more frequent
price changes among foreign investments. U.S.
investments are not considered to have foreign
investment risk.
to replicate the performance of a widely-quoted
market index. Not all ETFs are IPUs. While an
investment in an ETF generally presents similar risks
as an investment in an open-ended, actively-managed
mutual fund that has the same investment objectives
and strategies, it also carries the following additional
risks, which do not apply to an investment in an
open-ended, actively-managed mutual fund:
 The performance of an ETF may be different from
the performance of the index, commodity or
financial measure that the ETF is seeking to track.
There are several reasons that this might occur,
including: transaction costs and other expenses
borne by the ETF; the ETF’s securities may trade
at a premium or discount to their net asset value;
or the ETFs may employ complex strategies, such
as leverage, making tracking with accuracy
difficult.
Pursuant to the Foreign Account Tax Compliance Act
of 2009 (FATCA), the passing of the Hiring
Incentives to Restore Employment Act in 2010, the
Canada-US Intergovernmental Agreement and its
implementing provisions under the Income Tax Act
(Canada), for U.S. source payments, and starting in
2017 for certain gross proceeds, securityholders of
the funds may be required to provide identity and
residency information to the manager and
securityholders (and their controlling entities) of the
funds may be required to provide other financial
information to the manager, all of which may be
provided by the manager to the Canada Revenue
Agency, which will in turn provide such information
to the U.S. tax authorities. Securityholders may also
be required to provide similar information in
connection with similar reporting made to other
jurisdictions.
 The ability of a mutual fund to realize the full
value of its investment in an underlying ETF will
depend on the mutual fund’s ability to sell the
ETF’s securities on a securities market, and the
mutual fund may receive less than 100% of the
ETF’s then net asset value per security upon
redemption. There can be no assurance that an
ETF’s securities will trade at prices that reflect
their net asset value.
 There is no guarantee that any particular ETF will
be available or will continue to be available at any
time.
An ETF may be newly-created or
organized, with limited or no previous operating
history, and an active trading market for an ETF’s
securities may fail to develop or fail to be
maintained. In addition, there is no assurance that
an ETF will continue to meet the listing
requirements of the exchange on which its
securities are listed for trading.
Forward agreement risk
Certain mutual funds utilize an investment strategy
whereby they enter into one or more forward
purchase or forward sale agreements (each called a
“forward agreement”) under which the mutual fund
agrees to purchase or sell a portfolio of securities (or
portions thereof) from or to a counterparty based on a
value that is determined by reference to the value of a
notional basket of securities or the securities of
another mutual fund. These mutual funds will treat
gains or losses on the dispositions of their securities
as capital gains and losses. If the character and
timing of these gains were other than a capital gain
on the sale of the securities by the mutual fund, aftertax returns to investors in that fund could be reduced,
possibly to an amount less than that which would
have been realized by investors if they had held a
direct investment in the securities sold by the mutual
fund, and the mutual fund could be subject to nonrefundable income tax from such transactions. A
counterparty also may increase the amounts it
charges to the fund to maintain its exposure, possibly
 Commissions may apply to the purchase or sale of
an ETF’s securities by a mutual fund. Therefore,
investments in an ETF’s securities may produce a
return that is different than the change in the net
asset value of such securities.
Foreign investment risk
Investments in foreign companies are influenced by
economic and market conditions in the countries
where the companies operate. Equities and fixed
income securities issued by foreign companies and
governments are often considered riskier than
Canadian and U.S. investments. One reason for this is
that many countries have lower standards for
accounting, auditing and reporting. Some countries
are less politically stable than Canada and the U.S.
5 – Part A
to an extent that is prohibitively expensive, in which
case the mutual fund may terminate the forward
agreement. There is no assurance that the mutual
fund will be able to maintain or increase its exposure
under forward agreements on acceptable terms with a
counterparty or any other substitute counterparty.
interest rates are rising, the value of these
investments tends to fall. When rates are falling,
fixed income securities tend to increase in value.
Fixed income securities with longer terms to maturity
are usually more sensitive to changes in interest rates.
Investment trust risk
Some mutual funds invest in real estate, royalty,
income and other investment trusts which are
investment vehicles in the form of trusts rather than
corporations. To the extent that claims, whether in
contract, in tort or as a result of tax or statutory
liability, against an investment trust are not satisfied
by the trust, investors in the investment trust,
including mutual funds, could be held liable for such
obligations. Investment trusts generally seek to make
this risk remote in the case of contract by including
provisions in their agreements that the obligations of
the investment trust will not be binding on investors
personally. However, investment trusts could still
have exposure to damage claims such as personal
injury and environmental claims.
Certain
jurisdictions have enacted legislation to protect
investors in investment trusts from the possibility of
such liability.
The Income Tax Act contains rules relating to
character conversion transactions which treat gains
and losses realized by a mutual fund under a forward
agreement as ordinary income rather than a capital
gain, if the forward agreement was entered into or
extended on or after March 21, 2013.
Certain funds use forward agreements that were
entered into prior to March 21, 2013, which have a
termination date in 2017. The character conversion
rules will not apply to these forward agreements as
long as the termination dates are not extended and as
long as the funds comply with certain growth rules
with which the funds intend to comply.
Forward counterparty risk
If a mutual fund enters into a forward purchase
agreement, the fund's assets will be comprised solely
of its cash, its forward transaction and shares
delivered from time to time to the fund under the
forward transaction.
In the event of the
counterparty's default, the fund's counterparty credit
risk is limited to an amount up to 10% of the total
assets of the fund in accordance with National
Instrument 81-102 – Investment Funds (“NI 81102”). The possibility exists that the counterparty or
the fund will default on its obligations under a
forward purchase agreement.
To secure the
obligations of the mutual fund under the forward
purchase agreement, the mutual fund will deposit and
pledge cash up to the value of the purchase price
payable by the fund under the forward agreement into
an on-demand, interest-bearing account in the fund's
own name at the counterparty. Such counterparty
will at all times be a Schedule I bank as defined in the
Bank Act (Canada). Should the credit rating of the
counterparty fall below the approved credit rating as
set out in NI 81-102, the mutual fund has the option
to terminate the transaction early. Should the credit
rating of the counterparty be further downgraded due
to a bankruptcy or other similar event related to the
counterparty, the transaction will automatically
terminate and the counterparty will become obliged
to pay to the mutual fund an amount equal to the
notional amount of the forward transaction.
Large redemption risk
Some mutual funds may have particular investors
who own a large proportion of the net asset value of
the mutual fund. For example, other institutions such
as banks and insurance companies or other mutual
fund companies may purchase units or shares of the
funds for their own mutual funds, segregated funds,
structured notes or discretionary managed accounts.
Retail investors may also own a significant amount of
a mutual fund.
Large redemptions may result in (a) large sales of
portfolio securities, impacting market value; (b)
increased transaction costs (e.g. commission); and/or
(c) capital gains being realized, which may increase
taxable distributions to investors. If this should
occur, the returns of investors (including other funds)
that invest in those underlying funds may also be
adversely affected.
Liquidity risk
Liquidity is a measure of how easy it is to convert an
investment into cash. An investment may be less
liquid if it is not widely traded or if there are
restrictions on the exchange where the trading takes
place. Investments with low liquidity can have
dramatic changes in value.
Interest rate risk
Mutual funds that invest in fixed income securities
such as bonds and money market instruments are
sensitive to changes in interest rates. In general, when
6 – Part A
the third party defaults on its obligation to repurchase
the securities from the mutual fund, the mutual fund
may need to sell the securities for a lower price and
suffer a loss for the difference. For more information
about how the mutual funds engage in these
transactions, see “What does the fund invest in?”
under “Specific information about each of the mutual
funds described in this document” on page 55.
Market risk
The market value of a mutual fund’s investments
(whether they are equity or debt securities) will rise
and fall based on company-specific developments
and general stock and bond market conditions.
Market value will also vary with changes in the
general economic and financial conditions in the
countries where the investments are based. Certain
mutual funds will experience greater volatility and
short-term market value fluctuations than other
mutual funds.
Share class risk
Each Corporate Class has its own assets and
liabilities, which are used to calculate its value.
Legally, the assets of each Corporate Class are
considered the property of CI Corporate Class
Limited and the liabilities of each Corporate Class are
considered obligations of CI Corporate Class
Limited. That means if any Corporate Class cannot
meet its obligations, the assets of the other Corporate
Classes may be used to pay for those obligations.
Real estate investments risk
The value of investments in real estate-related
securities, or derivative securities based on returns
generated by such securities, will be affected by
changes in the value of the underlying real estate held
by issuers of such securities. Such changes will be
influenced by many factors, including declines in the
value of real estate in general, overbuilding, increases
to property taxes and operating costs, fluctuations in
rental income and changes in applicable zoning laws.
Short selling risk
Certain mutual funds may engage in a disciplined
amount of short selling. A “short sale” is where a
mutual fund borrows securities from a lender and
then sells the borrowed securities (or “sells short” the
securities) in the open market. At a later date, the
same number of securities are repurchased by the
mutual fund and returned to the lender. In the
interim, the proceeds from the first sale are deposited
with the lender and the mutual fund pays
compensation to the lender. If the value of the
securities declines between the time that the mutual
fund borrows the securities and the time it
repurchases and returns the securities, the mutual
fund makes a profit for the difference (less any
compensation the mutual fund pays to the lender).
Short selling involves certain risks. There is no
assurance that securities will decline in value during
the period of the short sale sufficient to offset the
compensation paid by the mutual fund and make a
profit for the mutual fund, and securities sold short
may instead increase in value. The mutual fund may
also experience difficulties repurchasing and
returning the borrowed securities if a liquid market
for the securities does not exist. The lender from
whom the mutual fund has borrowed securities may
go bankrupt and the mutual fund may lose the
collateral it has deposited with the lender. The lender
may decide to recall the borrowed securities which
would force the mutual fund to return the borrowed
securities early. If the mutual fund is unable to
borrow the securities from another lender to return to
the original lender, the mutual fund may have to
repurchase the securities at a higher price than what it
might otherwise pay.
Sector risk
Some mutual funds concentrate their investments in a
certain sector or industry in the economy. This
allows these mutual funds to focus on that sector’s
potential, but it also means that they are riskier than
funds with broader diversification. Because securities
in the same industry tend to be affected by the same
factors, sector-specific funds tend to experience
greater fluctuations in price. These mutual funds must
continue to follow their investment objectives by
investing in their particular sector, even during
periods when that sector is performing poorly.
Securities lending risk
Certain mutual funds may enter into securities
lending transactions, repurchase transactions and
reverse repurchase transactions in order to earn
additional income. There are risks associated with
securities lending, repurchase and reverse repurchase
transactions. Over time, the value of the securities
loaned under a securities lending transaction or sold
under a repurchase transaction might exceed the
value of the cash or collateral held by the mutual
fund. If the third party defaults on its obligation to
repay or resell the securities to the mutual fund, the
cash or collateral may be insufficient to enable the
mutual fund to purchase replacement securities and
the mutual fund may suffer a loss for the difference.
Likewise, over time, the value of the securities
purchased by a mutual fund under a reverse
repurchase transaction may decline below the amount
of cash paid by the mutual fund to the third party. If
7 – Part A
funds. In doing so, the risks associated with investing
in that fund include the risks associated with the
securities in which the underlying fund invests, along
with the other risks of the underlying fund. There
can be no assurance that any use of such multilayered fund of fund structures will result in any
gains for a fund. If an underlying fund that is not
traded on an exchange suspends redemptions, a fund
will be unable to value part of its portfolio and may
be unable to redeem units. In addition, the portfolio
advisor could allocate a fund’s assets in a manner that
results in that fund underperforming its peers.
Each fund that engages in short selling will adhere to
controls and limits that are intended to offset these
risks by selling short only securities of larger issuers
for which a liquid market is expected to be
maintained and by limiting the amount of exposure
for short sales. The funds will also deposit collateral
only with lenders that meet certain criteria for
creditworthiness and only up to certain limits.
Although some funds may not themselves engage in
short selling, they may be exposed to short selling
risk because the underlying funds in which they
invest or to which assets of the funds obtain exposure
may be engaged in short selling.
About the Corporate Classes
Small capitalization risk
Capitalization is a measure of the value of a
company. It is the current price of a company’s stock,
multiplied by the number of shares issued by the
company. Companies with small capitalization may
not have a well-developed market for their securities,
may be newer and may not have a track record or
extensive financial resources. As a result, these
securities may be difficult to trade, making their
prices and liquidity more volatile than those of large
companies.
The Corporate Classes are set up differently than
most other mutual funds. When you invest in most
other mutual funds, you buy units of a mutual fund
trust. Each Corporate Class instead is one or more
classes of convertible special shares of CI Corporate
Class Limited, which means you buy shares of the
corporation. Each class that is not Class A shares
invests in the same portfolio of assets as its
corresponding Class A shares. For this reason, each
Corporate Class is made up of its Class A, AT5, AT6,
AT8, E, ET5, ET8, EF, EFT5, EFT8, F, FT5, FT8, I,
IT5, IT8, O, OT5, OT8, U, UT6, V, W, WT5, WT8,
Insight, Y and Z shares (if offered) and is referred to
in this simplified prospectus as a single fund.
Style Risk
Certain mutual funds are managed in accordance with
a particular investment style. Focusing primarily on
one particular investment style (e.g. value or growth)
to the exclusion of others may create risk in certain
circumstances. For example, if a particular focus is
placed on growth investing at a time when this
investment style is out of favour in the marketplace,
increased volatility and lower short-term returns may
result.
In practical terms, the Corporate Classes work much
like traditional mutual funds. Currently, the main
difference is that in certain circumstances, the
structure allows you to defer paying tax on capital
gains. Here is how it works: once you invest in a
Corporate Class, you can transfer between other
Corporate Classes without realizing a capital gain.
Generally, you only pay tax on capital gains you
realize when you sell your shares for cash or transfer
them to another mutual fund in the CI Funds family
that is not a Corporate Class.
Tax Risk
CI Corporate Class Limited may be subject to nonrefundable tax on certain income earned by it. Where
CI Corporate Class Limited becomes subject to such
non-refundable tax, we will, on a discretionary basis,
allocate such tax against the net asset value of
Corporate Classes that make up the CI Corporate
Class Limited. The performance of an investment in
a Corporate Class may be affected by such tax
allocation. See “Canadian Federal Income Tax
Considerations for Investors – Corporate Classes” on
page 49 for more information.
The federal budget released on March 22, 2016
includes a proposal (the “2016 Federal Budget
Proposal”) that, if implemented, will eliminate your
ability to switch from one Corporate Class to other
Corporate Classes on a tax-deferred basis, on or after
October 1, 2016 or a later date provided by the
Department of Finance Canada.
For more
information, see “Canadian Federal Income Tax
Considerations for Investors” starting on page 49.
Underlying fund risk
A mutual fund may pursue its investment objectives
indirectly by investing in securities of other funds,
including exchange-traded funds, in order to gain
access to the strategies pursued by those underlying
Our Corporate Classes are as follows:
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8 – Part A
Black Creek Global Balanced Corporate Class
Black Creek Global Leaders Corporate Class
Black Creek International Equity Corporate Class
Cambridge American Equity Corporate Class
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Cambridge Asset Allocation Corporate Class
Cambridge Canadian Dividend Corporate Class
Cambridge Canadian Equity Corporate Class
Cambridge Global Dividend Corporate Class
Cambridge Global Equity Corporate Class
Cambridge Growth Companies Corporate Class
Cambridge Income Corporate Class
CI American Managers® Corporate Class
CI American Small Companies Corporate Class
CI American Value Corporate Class
CI Canadian Investment Corporate Class
CI Can-Am Small Cap Corporate Class
CI Global Corporate Class
CI Global Health Sciences Corporate Class
CI Global High Dividend Advantage Corporate
Class
CI Global Managers® Corporate Class
CI Global Small Companies Corporate Class
CI Global Value Corporate Class
CI International Value Corporate Class
CI Pacific Corporate Class
CI Short-Term Advantage Corporate Class
CI Short-Term Corporate Class
CI Short-Term US$ Corporate Class
Harbour Corporate Class
Harbour Global Equity Corporate Class
Harbour Global Growth & Income Corporate
Class
Harbour Growth & Income Corporate Class
Harbour Voyageur Corporate Class
Select 80i20e Managed Portfolio Corporate Class
Select 100e Managed Portfolio Corporate Class
Select Canadian Equity Managed Corporate Class
Select Income Managed Corporate Class
Select International Equity Managed Corporate
Class
Select U.S. Equity Managed Corporate Class
Signature Canadian Bond Corporate Class
Signature Corporate Bond Corporate Class
Signature Diversified Yield Corporate Class
Signature Dividend Corporate Class
Signature Emerging Markets Corporate Class
Signature Global Bond Corporate Class
Signature Global Dividend Corporate Class
Signature Global Energy Corporate Class
 Signature Global Income & Growth Corporate
Class
 Signature Global Resource Corporate Class
 Signature Global Science & Technology
Corporate Class
 Signature Gold Corporate Class
 Signature High Income Corporate Class
 Signature High Yield Bond Corporate Class
 Signature Income & Growth Corporate Class
 Signature International Corporate Class
 Signature Select Canadian Corporate Class
 Signature Select Global Corporate Class
 Synergy American Corporate Class
 Synergy Canadian Corporate Class
 Synergy Global Corporate Class
Funds utilizing forward agreements
Amendments were made in 2013 to the Income Tax
Act relating to character conversion transactions
which affect certain tax benefits gained by
investment funds that utilize forward agreements to
obtain exposure to an underlying reference fund (the
“Amendments”). As a result, the funds below may not
be able to achieve future tax-efficiency related to the
forward agreements similar to that achieved prior to
the Amendments:
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Cambridge Income Fund
Signature High Yield Bond Corporate Class
Signature High Yield Bond Fund
The forward agreements of these funds will expire in
January 2017. As a result of the Amendments, we
decided that when a fund’s forward agreement
expires, the fund will no longer use a forward
agreement but will invest directly in the portfolio of
securities or other mutual funds to which it currently
links its returns, and its investment objective will be
reworded to reflect the change.
Please see “forward agreement risk” on page 5 of the
simplified prospectus for additional information.
9 – Part A
Organization and Management of the Funds
Manager
CI Investments Inc.
2 Queen Street East
Twentieth Floor
Toronto, Ontario
M5C 3G7
As manager, we are responsible for the day-to-day operations of the
funds and provide all general management and administrative
services.
Trustee
CI Investments Inc.
Toronto, Ontario
The trustee of each fund (other than the Corporate Classes) controls
and has authority over each fund’s investments and cash on behalf of
unitholders. As trustee, we may also appoint governors to a fund to
oversee the operations of the fund.
Custodian
RBC Investor Services Trust
Toronto, Ontario
The custodian holds each fund’s investments and cash on behalf of
the fund. The custodian is independent of CI.
Registrar
CI Investments Inc.
Toronto, Ontario
As registrar, we keep a record of all securityholders of the funds,
process orders and issue account statements and tax slips to
securityholders.
Auditor
PricewaterhouseCoopers LLP
Toronto, Ontario
The auditor of the funds prepares an independent auditor’s report in
respect of the financial statements of the funds. The auditor has
advised us that it is independent with respect to the funds within the
meaning of the Rules of Professional Conduct of the Chartered
Professional Accountants of Ontario.
Securities Lending Agent
RBC Investor Services Trust
Toronto, Ontario
The securities lending agent acts on behalf of the funds in
administering the securities lending transactions entered into by the
funds. The securities lending agent is independent of CI.
Portfolio Advisor
As portfolio advisor, we are responsible for providing, or arranging
to provide, investment advice to the funds. CI is the portfolio
advisor for the funds, but hires portfolio sub-advisors to provide
investment analysis and recommendations for certain of the funds.
CI Investments Inc.
Toronto, Ontario
Portfolio Sub-advisors
1832 Asset Management L.P.
Toronto, Ontario
Altrinsic Global Advisors, LLC
Greenwich, Connecticut
Black Creek Investment Management Inc.
Toronto, Ontario
CI Global Investments Inc.
You will find the name of the portfolio sub-advisor for each fund in
the fund details in Part B of the simplified prospectus. To the extent
that CI directly provides investment advice to a fund or a portion of a
fund, CI will also be listed as portfolio advisor in the fund details.
CI is an affiliate of CI Global Investments Inc. CI Financial Corp., an
affiliate of CI, owns a majority interest in Marret Asset Management
Inc. CI owns a minority interest in Lawrence Park Capital Partners
Ltd. CI has a profit sharing arrangement with Altrinsic Global
Advisors, LLC. 1832 Asset Management L.P., Black Creek
Investment Management Inc., Epoch Investment Partners, Inc.,
Manulife Asset Management Limited, Picton Mahoney Asset
Management, QV Investors Inc. and Tetrem Capital Management
10 – Part A
Boston, Massachusetts
Epoch Investment Partners, Inc.
New York, New York
Lawrence Park Asset Management Ltd.
(formerly Lawrence Park Capital Partners
Ltd.)
Toronto, Ontario
Ltd. are independent of CI.
CI is responsible for the investment advice provided by the portfolio
sub-advisors. It may be difficult to enforce any legal rights against
Altrinsic Global Advisors, LLC, CI Global Investments Inc. and
Epoch Investment Partners, Inc., because these entities are resident
outside of Canada and most or all of their assets are outside of
Canada.
Manulife Asset Management Limited
Toronto, Ontario
Marret Asset Management Inc.
Toronto, Ontario
Picton Mahoney Asset Management
Toronto, Ontario
QV Investors Inc.
Calgary, Alberta
Tetrem Capital Management Ltd.
Winnipeg, Manitoba
Independent Review Committee
The independent review committee, or IRC, provides independent
oversight and impartial judgment on conflicts of interest involving
the funds. Among other matters, the IRC prepares, at least annually,
a report of its activities for investors in the funds which is available
on our website at www.ci.com or upon request by any investor, at no
cost, by calling: 1-800-792-9355 or e-mailing to: [email protected].
The IRC currently is comprised of five members, each of whom is
independent of CI, its affiliates and the funds.
Additional
information concerning the IRC, including the names of its members,
and governance of the funds is available in the annual information
form of the funds.
If approved by the IRC, a fund may change its auditor by sending
you a written notice of any such change at least 60 days before it
takes effect. Likewise, if approved by the IRC, we may merge a
fund into another mutual fund provided the merger fulfills the
requirements of the Canadian securities regulators relating to mutual
fund mergers and we send you a written notice of the merger at least
60 days before it takes effect. In either case, no meeting of
securityholders of the fund may be called to approve the change.
Investments in or exposure to underlying
mutual funds
Each fund that invests in or obtains exposure to an underlying fund
managed by us or any of our affiliates or associates will not vote any
of the securities it holds or is exposed to in the underlying fund.
However, we may arrange for you to vote your share of those
securities.
11 – Part A
Purchases, Switches and Redemptions
You can buy funds, transfer or convert from one fund
to another or change units or shares of one class to
another class of the same fund through a qualified
representative. “Transferring”, which involves
moving money from one investment to another, and
converting are also known as “switching”. We
explain the differences between transferring and
converting on page 25.
You can sell your fund investment either through
your representative or by contacting us directly.
Selling your investment is also known as
“redeeming”.
Whether you are buying, selling, transferring or
converting funds, we base the transaction on the
value of a fund unit or share. The price of a unit or
share is called the net asset value or NAV per unit or
share, or the unit value or share value. We calculate a
separate NAV per unit or share for each class of fund
by taking the value of the assets of the class of fund,
subtracting any liabilities of the class of fund, and
dividing the balance by the number of units or shares
held by investors in that class of fund.
We calculate NAV at 4:00 p.m. Eastern time on each
valuation day. For Corporate Class securities, a
valuation day is each day that the Toronto Stock
Exchange is open for a full day of business. For any
other fund, a valuation day is any day that we are
open for a full day of business. When you buy, sell,
transfer or convert units or shares of a fund, the price
is the next NAV we calculate after receiving your
order.
When you place your order through a representative,
the representative sends it to us. If we receive your
properly completed order before 4:00 p.m. Eastern
time on a valuation day, we will process it using that
day’s NAV. If we receive your order after that time,
we will use the NAV on the next valuation day. The
valuation day used to process your order is called the
trade date.
Currency purchase options
U.S. Dollar Funds
All of the funds are valued and may be bought in
Canadian dollars, except for Cambridge U.S.
Dividend US$ Fund, CI U.S. Income US$ Pool, CI
US Money Market Fund and CI Short-Term US$
Corporate Class which are valued and may be bought
only in U.S. dollars (“U.S. Dollar Funds”).
For U.S. Dollar Funds:
 We will calculate the NAV per unit or share in
U.S. dollars on a daily basis.
 We will pay you in U.S. dollars when you redeem
any units or shares of the fund and when you
request cash distributions.
U.S. Dollar Purchase Option
You can choose to buy certain classes of the funds in
U.S. dollars as well (“U.S. Dollar Purchase Option”):
Black Creek Global Balanced Fund
Black Creek Global Leaders Fund
Black Creek International Equity Fund
Cambridge American Equity Fund
Cambridge Global Dividend Fund
Cambridge U.S. Dividend Fund
CI American Small Companies Fund
CI Global Fund
CI Global High Dividend Advantage Fund
CI Global High Dividend Advantage Corporate
Class
 CI Global Managers® Corporate Class
 CI Global Small Companies Fund
 CI Global Small Companies Corporate Class
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12 – Part A
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CI Global Value Fund
CI International Value Fund
CI Pacific Fund
Harbour Global Growth & Income Corporate
Class
Lawrence Park Strategic Income Fund
Marret High Yield Bond Fund
Marret Short Duration High Yield Fund
Marret Strategic Yield Fund
Portfolio Series Balanced Growth Fund
Portfolio Series Conservative Balanced Fund
Portfolio Series Growth Fund
Portfolio Series Maximum Growth Fund
Signature Diversified Yield Fund
Signature Diversified Yield II Fund
Signature Emerging Markets Fund
Signature Global Bond Fund
Signature Global Dividend Fund
Signature Global Income & Growth Fund
Signature Global Income & Growth Corporate
Class
Signature Global Resource Corporate Class
Signature Global Science & Technology
Corporate Class
Signature Gold Corporate Class
Signature High Income Corporate Class
Signature High Yield Bond II Fund
Signature Income & Growth Fund
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Signature Income & Growth Corporate Class
Signature International Fund
Signature International Corporate Class
Signature Real Estate Pool
Signature Select Canadian Corporate Class
Signature Select Global Fund
Signature Select Global Corporate Class
Synergy American Fund
Synergy American Corporate Class
Synergy Canadian Corporate Class
Synergy Global Corporate Class
No other funds are currently available for purchase in
U.S. dollars and not all classes may be available. We
may offer the U.S. Dollar Purchase Option in respect
of additional funds or classes in the future.
For the U.S. Dollar Purchase Option:
 We will calculate the NAV per unit or share in
Canadian dollars on a daily basis and convert it to
U.S. dollars, using the exchange rate at 4:00 pm
Eastern time on a valuation day, to determine the
applicable U.S. dollar NAV.
 We will convert the purchase price into Canadian
dollars using the exchange rate at 4:00 pm Eastern
time on the day we process your order.
 When you redeem any units or shares of the fund,
or when you request cash distributions, we will
pay you in U.S. dollars using the exchange rate at
4:00 pm Eastern time on the day we process the
redemption or pay your cash distribution.
A U.S. Dollar Purchase Option is provided as a
convenience for purchasing, transferring and
redeeming certain classes of securities in funds with
U.S. dollars and is not a means to effect currency
arbitrage. The performance of a class of securities
of a fund purchased in U.S. dollars may differ
from the performance of that same class of the
fund purchased in Canadian dollars due to
fluctuations in the Canadian-U.S. dollar exchange
rate, and as such purchasing a class of a fund in
U.S. dollars will not shield you from, or act as a
hedge against, such currency fluctuations.
13 – Part A
About different types of units and shares
Each fund offers one or more classes of units or shares. You will find a list of all of the funds and the classes of
units or shares they offer on the front cover of this simplified prospectus.
Each class of units or shares offered by a fund is different from other classes offered by that fund. These differences
are summarized below.
Class
Features
Generally available
Class A, AT5 and AT8 units and
shares
Class A, AT5 and AT8 units and shares are available to all investors in all
funds.
Class AT5 and AT8 units and shares have the added feature that they pay
monthly distributions. Monthly distributions on Class AT5 and AT8 units
and shares will be tax-free returns of capital until the adjusted cost base of
your units or shares for tax purposes is exhausted.
Class A, AT5, and AT8 units and shares, together with Class AT6 units and
shares, are sometimes referred to collectively, as “A units” and “A shares”,
as applicable.
Class E, ET5 and ET8 units and
shares
Class E, ET5 and ET8 units and shares are available to investors through
PIM. The minimum initial investment for these classes of units and shares is
$100,000 per fund. However, in certain circumstances where an investor or
investors have an aggregate investment of $250,000, the minimum initial
investment into a fund within PIM may be waived.
See “About Private
Investment Management (PIM)” for more information.
Class ET5 and ET8 units and shares have the added feature that they pay
monthly distributions. Monthly distributions on Class ET5 and ET8 units
Class E, ET5 and ET8 units and shares are sometimes referred to
collectively, as “E units” and “E shares”, as applicable.
Class O, OT5 and OT8 units and
shares
Class O, OT5 and OT8 units and shares are available to investors through
PIM. The minimum initial investment for these classes of units and shares is
$100,000 per fund. However, in certain circumstances where an investor or
investors have an aggregate investment of $250,000, the minimum initial
investment into a fund within PIM may be waived. No management fees are
charged to the funds with respect to Class O, OT5 or OT8 units or shares;
each investor will be charged a management fee directly by us and payable
directly to us. See “About Private Investment Management (PIM)” for more
information. Each investor also pays us an investment advisory fee (which
the investor negotiates with his/her representative).
Class OT5 and OT8 units and shares have the added feature that they pay
monthly distributions. Monthly distributions on Class OT5 and OT8 units
Class O, OT5 and OT8 units and shares are sometimes referred to
collectively, as “O units” and “O shares”, as applicable.
14 – Part A
Class
Features
Available to fee-based accounts
Class EF, EFT5 and EFT8 units
and shares
Class EF, EFT5 and EFT8 units and shares are generally only available to
investors through PIM and to investors who participate in fee-based
programs through their representative.
These investors pay their
representative’s firm directly, and since we pay no commissions or trailing
commissions to their representative’s firm, we charge a lower management
fee to the fund in respect of these classes than we charge the fund for its
Class E, ET5 or ET8 units or shares. You can only buy these classes if your
representative’s firm and we approve it. Availability of these classes through
your representative is subject to our terms and conditions. The minimum
initial investment for these classes of units and shares is $100,000 per fund.
However, in certain circumstances where an investor or investors have an
aggregate investment of $250,000, the minimum initial investment into a
fund within PIM may be waived.
See “About Private Investment
Management (PIM)” for more information.
Class EFT5 and EFT8 units and shares have the added feature that they pay
monthly distributions. Monthly distributions on Class EFT5 and EFT8 units
Class EF, EFT5 and EFT8 units and shares are sometimes referred to
collectively, as “EF units” and “EF shares”, as applicable.
Class F, FT5 and FT8 units and
shares
Class F, FT5 and FT8 units and shares are generally only available to
investors who participate in fee-based programs through their representative.
These investors pay their representative’s firm directly, and since we pay no
commissions or trailing commissions to their representative’s firm, we
charge a lower management fee to the fund in respect of these classes than
we charge the fund for its Class A, AT5 or AT8 units or shares. In certain
cases, however, we may collect an investment advisory fee (which the
investor negotiates with his/her representative). You can only buy these
classes if your representative’s firm and we approve it. Availability of these
classes through your representative is subject to our terms and conditions.
Class FT5 and FT8 units and shares have the added feature that they pay
monthly distributions. Monthly distributions on Class FT5 and FT8 units
your shares for tax purposes is exhausted.
Class F, FT5 and FT8 units and shares are sometimes referred to collectively,
as “F units” and “F shares”, as applicable.
Class W, WT5 and WT8 units
and/or shares
Class W, WT5 and WT8 units and shares are generally only available to
investors who participate in fee-based programs through their representative.
Where we administer an investor’s account on behalf of his/her
representative’s firm, we will collect an investment advisory fee (which the
investor negotiates with his/her representative).
Class WT5 and WT8 shares have the added feature that they pay monthly
distributions. Monthly distributions on Class WT5 and WT8 shares will be
tax-free returns of capital until the adjusted cost base of your shares for tax
purposes is exhausted.
Class W, WT5 and WT8 units and shares are sometimes referred to
15 – Part A
Class
Features
collectively, as “W units” and “W shares”, as applicable.
Insight Class units and shares
These classes are similar to Class W units and shares except that the
management fee charged to the fund for Insight Class units or shares is
different from the management fee charged to the same fund in respect of its
Class W units or shares. Where we administer an investor’s account on
behalf of his/her representative’s firm, we will collect an investment
advisory fee (which the investor negotiates with his/her representative).
Available to institutional investors
Class I, IT5 and IT8 units and/or
shares
Class I, IT5 and IT8 units and/or shares are available only to institutional
clients and investors who have been approved by us and have entered into a
Class I Account Agreement with us. The criteria for approval may include
the size of the investment, the expected level of account activity and the
investor’s total investment with us. The minimum initial investment for
these classes of units and shares is determined when the investor enters into a
Class I Account Agreement with us. No management fees are charged to the
funds with respect to Class I, IT5 or IT8 units or shares; each investor will
negotiate a separate management fee which is payable directly to us. Each
investor also pays us an investment advisory fee (which the investor
negotiates with his/her representative). Class I, IT5 and IT8 units and/or
shares are also available to our directors and employees, as well as to those
of our affiliates.
Class IT5 and IT8 shares have the added feature that they pay monthly
distributions. Monthly distributions on Class IT5 and IT8 shares will be taxfree returns of capital until the adjusted cost base of your shares for tax
purposes is exhausted.
Class I, IT5 and IT8 units and shares are sometimes referred to collectively,
as “I units” and “I shares”, as applicable.
Available only for purposes of mutual fund reorganizations
Class AT6 units and shares
These classes are similar to Class AT5 and AT8 units and shares except that
they are available only to certain investors in connection with various mutual
fund reorganizations and other changes. The management fee charged to the
fund for Class AT6 units or shares is the same as the management fee
charged to the same fund in respect of its Class AT5 and AT8 units or shares.
Class AT6 units and shares also have the added feature that they pay
monthly distributions. Monthly distributions on Class AT6 units and shares
will be tax-free returns of capital until the adjusted cost base of your units or
shares for tax purposes is exhausted.
Class Z units and shares
These classes are similar to Class A units and shares except that they are
available only to certain investors in connection with various mutual fund
reorganizations and other changes. The management fee charged to the fund
for Class Z units or shares is different from the management fee charged to
the same fund in respect of its Class A units or shares.
16 – Part A
Class
Features
Class U and UT6 units and shares
These classes are similar to Class A and AT6 units and shares except that
they are used in connection with different mutual fund reorganizations and
other changes. The management fee charged to the fund for Class U or UT6
units or shares is different from the management fee charged to the same
fund in respect of its Class A or AT6 units or shares.
However, Class UT6 units and shares do have the same feature as Class AT6
units and shares in that they pay monthly distributions. Monthly distributions
on Class UT6 units and shares will be tax-free returns of capital until the
adjusted cost base of your units or shares for tax purposes is exhausted.
Class U and UT6 units and shares are sometimes referred to collectively, as
“U units” and “U shares”, as applicable.
Class D units and shares
These classes are similar to Class A units and shares except that they are
for Class D units or shares is different from the management fee charged to
the same fund in respect of its Class A units or shares. Class D units and
shares can be purchased only through the initial sales charge option.
Class Y units and shares
These classes are similar to Class F units and shares except that they are
for Class Y units or shares is different from the management fee charged to
the same fund in respect of its Class F units or shares.
Class V units and shares
These classes are similar to Class W units and shares except that they are
for Class V units or shares is different from the management fee charged to
the same fund in respect of its Class W units or shares.
About T-Class Securities
As mentioned above, holders of Class AT5, AT6,
AT8, ET5, ET8, EFT5, EFT8, FT5, FT8, IT5, IT8,
OT5, OT8, UT6, WT5 and WT8 units and/or shares
(also called the T-Class Securities) receive regular
monthly cash distributions called a Monthly Amount.
We determine the Monthly Amount by multiplying
the net asset value per unit or share of the class at the
end of the previous calendar year (or, if no units or
shares of the class were outstanding at the end of the
previous calendar year, the date on which the units or
shares are first available for purchase in the current
calendar year) by 5% for Class AT5, ET5, EFT5 FT5,
IT5, OT5, and WT5 units and/or shares, by 6% for
Class AT6 and UT6 units and/or shares or by 8% for
Class AT8, ET8, EFT8, FT8, IT8, OT8 and WT8
units and/or shares, and dividing the result by 12.
You may customize the regular monthly cash
distributions you receive on your T-Class Securities
by instructing us to pay a portion of the Monthly
Amount with any difference being automatically
reinvested. See “Optional services – Flexible TClass service” on page 30. T-Class Securities are not
available for purchase within our registered plans
(other than a tax-free savings account).
About Private Investment Management (PIM)
CI Private Investment Management (PIM) is a
program that offers investors a comprehensive range
of tax-effective, professional money management
investment solutions with preferred pricing options
and distinct services. Diverse investment mandates
are available through both corporate class and mutual
fund trust structures. PIM offers reduced pricing
and/or fee rebates and services to qualified investors
or investors approved by us.
The minimum initial investment for entry into PIM is
$100,000 per fund. In certain circumstances where
17 – Part A
an investor or investors have an aggregate investment
of $250,000, we may waive the minimum initial
investment into another fund within PIM. Individuals
with assets greater than $250,000 in a single account
may also establish a PIM Household Group.
Upon your direction, PIM Household Groups may be
established, allowing all members’ assets to be
considered for management fee reductions and/or
provide consolidated reporting on all required trade
confirmations and PIM statements. A PIM Household
Group is defined as belonging to a single investor,
his/her spouse and family members residing at the
same address, as well as corporate, partnership or
trust accounts for which the investor and other
members of the PIM Household Group beneficially
own more than 50% of the voting equity. PIM
Household Groups will be established after
authorization by all members is received by us.
Class E, ET5, ET8, EF, EFT5, EFT8, O, OT5 and
OT8 units and shares are available to investors
through PIM. Investors of Class O, OT5 and OT8
units and shares may benefit from reduced
management fees via a tiered management fee
schedule. Investors of Class E, ET5, ET8, EF, EFT5
and EFT8 units and shares may have the benefit of
fee reductions on management fees if the investors
and their respective PIM Household Groups have
sufficient assets to qualify, via management fee
distributions or rebates for investors of Class E, ET5,
ET8, EF, EFT5 and EFT8 units or shares,
respectively.
With respect to Class O, OT5 and OT8 units and
shares, no management fees are charged to those
classes of the funds, as each investor will be charged
a management fee directly by us and payable directly
to us.
Only Classes E, ET5, ET8, EF, EFT5, EFT8, O, OT5
and OT8 units and shares are currently offered
through PIM.
Please contact us or your representative for further
details about PIM.
About Portfolio Series
Diversification and a proper allocation of investments
among asset classes are two of the keys to successful
investing. The Portfolio Series funds provide both
benefits by allocating their assets between income
and equity investments in the manner that we believe
best achieves each Portfolio’s investment objective.
The Portfolios achieve greater diversification by
investing their assets in underlying funds. The
Portfolios are monitored and the investments of each
Portfolio are rebalanced periodically to adjust for
market fluctuations. Each Portfolio is reviewed to
confirm that the asset allocations for each Portfolio
represent efficient asset mixes.
The Portfolio Series consists of the following funds:







Portfolio Series Balanced Fund
Portfolio Series Conservative Fund
Portfolio Series Income Fund
About Portfolio Select Series (PSS)
Portfolio Select Series, or “PSS”, is a tax-effective
asset allocation program designed for investors who
see strategic asset allocation as providing the
foundation for their investment plan. It is comprised
of nine “portfolios”, each with different asset
allocations that provide exposure in up to four
different asset classes, namely: Canadian equity, U.S.
equity, international equity and income.
Each portfolio utilizes a multi-manager approach to
reduce the dependency on any single portfolio
advisor and has been designed to be style-neutral.
Each portfolio also is broadly diversified which
means that no portfolio has a significant bias towards
either a value or a growth style. We select and
monitor the performance of the portfolio advisors
used for each portfolio and the characteristics of their
portfolio. We also monitor the performance of each
portfolio and make adjustments to it from time to
time based on our assessment of market conditions.
PSS is available to you in three ways: as a PSS
Managed Portfolio, as a PSS Managed Account or as
a PSS Custom Account, which are described below.
PSS as a PSS Managed Account is available
exclusively through our affiliated firms.
PSS Managed Portfolios and PSS Managed
Accounts
If you decide that you would like to use a portfolio
that we manage, you should consider using a PSS
Managed Portfolio or a PSS Managed Account. In
this case, your representative may ask you to
complete a questionnaire to define your investment
profile.
By relying on the answers to the
questionnaire, together with other knowledge of you,
your representative will recommend a portfolio to
you. You then will have the option of holding your
portfolio through a single fund – which we call a
“PSS Managed Portfolio” – or holding your portfolio
through a combination of Select Corporate Classes –
which we call a “PSS Managed Account”.
18 – Part A
Completing the questionnaire is required if you wish
to use a PSS Managed Account, and is recommended
but not required if you use a PSS Managed Portfolio.
The following nine PSS Managed Portfolios are
currently available:









Each PSS Managed Portfolio invests exclusively in
the following “Underlying Funds” in the proportions
that we believe are best suited for achieving the
investment objective and asset allocations of that PSS
Managed Portfolio:





CI Income Fund
Select Canadian Equity Managed Fund
Select International Equity Managed Fund
Select U.S. Equity Managed Fund
See the individual fund descriptions in Part B of the
simplified prospectus for a more detailed description
of how each PSS Managed Portfolio allocates its
assets among the Underlying Funds. You cannot
purchase units of Select Canadian Equity Managed
Fund, Select U.S. Equity Managed Fund or Select
International Equity Managed Fund directly. These
three Underlying Funds are available to investors
only indirectly by investing in a PSS Managed
Portfolio.
If you prefer to hold your portfolio directly rather
than through a PSS Managed Portfolio and your
account is with one of our affiliated firms, you may
utilize a PSS Managed Account in PSS. PSS as a
PSS Managed Account is available exclusively
through our affiliated firms. Your PSS Managed
Account will hold a combination of the following
“Select Corporate Classes” in the manner that we
believe is most consistent with your portfolio:
 Select Income Managed Corporate Class
 Select Canadian Equity Managed Corporate Class
 Select International Equity Managed Corporate
Class
 Select U.S. Equity Managed Corporate Class
When you establish your PSS Managed Account,
your representative will submit your first investment
to us using the single purchase order feature. This
will result in your initial investment being allocated
across the Select Corporate Classes in a manner that
reflects your portfolio at that time. Additional
information concerning each portfolio’s allocations
between Select Corporate Classes is available
through your representative.
To maintain your PSS Managed Account, you must
authorize us in writing to change the holdings in your
PSS Managed Account from time to time to reflect
changes that we may make to your portfolio by
submitting
the
PSS
Managed
Account
documentation. If we do not receive this written
authorization within five business days of your first
investment in your PSS Managed Account, your
account and funds will be switched to a PSS Custom
Account and funds. PSS Custom Accounts are
described below. Your representative is responsible
for gathering and periodically updating your "know
your client" information in order to ensure that your
portfolio continues to be suitable for you. You cannot
change the holdings in your PSS Managed Account,
other than switching to a different portfolio. If you
wish to make changes to the portfolios itself, you
must change your PSS Managed Account to a PSS
Custom Account. The nature of the services we
provide for a PSS Custom Account is different from
what we provide for a PSS Managed Account.
As part of managing the portfolios, we may replace a
portfolio advisor, re-allocate the mix of portfolio
advisors used for a portfolio, change the asset mix of
a Select Corporate Class and change the investments
held by a PSS Managed Portfolio or a PSS Managed
Account, in each case at any time without notice to
you. We also monitor and rebalance each PSS
Managed Portfolio and PSS Managed Account on an
ongoing basis to ensure that it does not deviate from
the portfolio’s target asset mix.
PSS Custom Accounts
If you prefer to customize one of the nine PSS
portfolios, you must establish a “PSS Custom
Account” using PSS. Your representative may ask
you to complete a questionnaire to define your
investment profile. Completing the questionnaire is
recommended but not mandatory. By relying on the
answers to the questionnaire, together with other
knowledge of you as an investor, your representative
will recommend one of the nine PSS portfolios
consisting of Select Corporate Classes.
If you wish, you then can make the following types
of modifications to your PSS Custom Account:
 you may replace one or more Select Corporate
Classes with other Corporate Classes and add
more Corporate Classes to your PSS Custom
19 – Part A
Account, provided at least 49% of your PSS
Custom Account remains allocated to Select
Corporate Classes,
 you may determine the frequency date with which
your PSS Custom Account is automatically
rebalanced as either monthly, quarterly, semiannually or annually, and
 you may determine the automatic rebalancing
variance percentage to any percentage you specify
between 2.5% and 10%.
If you do not make any determinations regarding the
automatic rebalancing service, then automatic
rebalancing will occur quarterly using a 5% variance
percentage.
We do not monitor the suitability of the funds held in
your PSS Custom Account. This is the responsibility
of you and your representative. We also will not
change the target asset allocations of your PSS
Custom Account unless you instruct us to do so.
See “Purchases, Switches and Redemptions - How to
buy funds” below for more information on Select
Staging Fund and target asset allocations as they
relate to PSS Custom Accounts.
How to buy funds
You can invest in any of the funds by completing a
purchase application, which you can get from your
representative.
The minimum initial investment for Class A, F and
W units and shares of each fund (other than T-Class
Securities) is $500. The minimum initial investment
for T-Class securities (other than ET5, ET8, EFT5,
EFT8, OT5 and OT8) is $5,000. The minimum for
each subsequent investment is $50.
The minimum initial investment for Class I, IT5 and
IT8 units and shares is determined by us when you
enter into a Class I Account Agreement with us.
The minimum initial investment for Insight units or
shares is $1,000 per fund and $25,000 in aggregate,
and the minimum subsequent investment in Insight
units or shares is $1,000 per fund.
Private Investment Management (PIM)
The minimum initial investment for Class E, EF and
O units and shares of each fund is $100,000.
However, in certain circumstances where an investor
or investors have an aggregate investment of
$250,000, the minimum initial investment into a new
fund within PIM may be waived. With a $250,000
initial investment and with all assets held within one
account with us, investors may create a PIM
Household Group, where the aggregate of all assets
of the PIM Household Group will be taken into
account for management fee reductions.
The
minimum for each subsequent investment into an
existing fund is $5,000.
Select Staging Fund is available to simplify placing
orders for a PSS Custom Account. If you have opted
for a PSS Custom Account, we will automatically
switch your investment from Select Staging Fund to
the Select Corporate Classes and other Corporate
Classes you specify on the business day following the
day that your purchase in Select Staging Fund has
settled and that we have received your PSS
documentation
containing
your
instructions,
whichever occurs later. If your PSS Custom Account
documentation is not received within 30 days after
your purchase has settled, your participation in PSS
may be terminated and your units of Select Staging
Fund will be switched to Class A shares of CI ShortTerm Corporate Class.
Rather than using Select Staging Fund, your PSS
Custom Account may directly purchase shares in the
Select Corporate Classes and other Corporate
Classes. If your PSS documentation is not received
within 30 days after your first investment in the
Select Corporate Classes and other Corporate Classes
and no other transactions have occurred within the
account, the allocation of your first investment
between the Select Corporate Classes and other
Corporate Classes will become the target asset
allocations of your PSS Custom Account and
automatic rebalancing will occur quarterly using a
5% variance percentage.
If you hold investments in other funds that you wish
to transfer to the PSS program, those investments
may be transferred into a PSS Custom Account by
switching to an equivalent class of shares of CI
Short-Term Corporate Class (rather than Select
Staging Fund). Your investment will then be
switched from CI Short-Term Corporate Class to the
Select Corporate Classes. Currently, this approach
allows you to minimize realizing any capital gains.
However, the federal budget released on March 22,
2016 includes a proposal (the “2016 Federal Budget
Proposal”) that, if implemented, will eliminate your
ability to convert shares from one Corporate Class to
another Corporate Class on a tax-deferred basis on or
after October 1, 2016 or a later date provided by the
Department of Finance Canada.
For more
information, see “Canadian Federal Income Tax
Considerations for Investors” starting on page 49.
20 – Part A
You can have only one set of target asset allocations
for your PSS Custom Account. Once you have made
your first investment in your PSS Custom Account,
subsequent investments may be made into Select
Staging Fund and automatically switched into the
funds in your PSS Custom Account in the same
proportions as your target asset allocations.
The Select Corporate Classes can be purchased only
by participating in the PSS program. Switching to CI
Short-Term Corporate Class from funds that are not
Corporate Classes, and switching from Select Staging
Fund to Select Corporate Classes or other Corporate
Classes is, in each case, a disposition for tax
purposes. If you hold your units or shares of
switched funds outside a registered plan, you may
realize a taxable capital gain.
Additional details about the PSS program are
available from your representative.
The minimum investment amounts described above
are determined from time to time by us in our sole
discretion. They may also be waived by us and are
subject to change without prior notice. The current
minimum investment amounts may be obtained on
our website at www.ci.com.
Cambridge U.S. Dividend Registered Fund –
Eligible Accounts
Cambridge U.S. Dividend Registered Fund may only
be held within Eligible Accounts, as detailed on page
27 under “Optional Services – Registered Plans and
Eligible Accounts”. If you purchase units of this fund
into an account that is not eligible, we will
automatically switch such units into units of
Cambridge U.S. Dividend Fund. If, for any reason,
we cannot switch your units into units of Cambridge
U.S. Dividend Fund, we will redeem your units.
Investing in Signature Preferred Share Pool Using
Your Securities
You can also invest in Signature Preferred Share Pool
by using securities you own and transferring those
securities to the fund in exchange for units of the
fund. We will assess your securities and accept
delivery of the securities if: (i) the fund at the time of
purchase is permitted to buy those securities; (ii) the
securities are acceptable to the portfolio advisor and
consistent with the fund’s investment objectives; and
(iii) the value of the securities is at least equal to the
issue price of the units of the fund for which the
securities are payment, valued as if the securities
were portfolio assets of the fund. This ability to
purchase units of the fund using your securities may
be cancelled by us at any time without prior notice.
All funds
Your representative’s firm or we will send you a
confirmation once we have processed your order. If
you buy through the pre-authorized chequing plan
described on page 28, we will send you a
confirmation for the first transaction and all other
transactions will be reported on your semi-annual and
annual statements if your investments are made no
less frequently than monthly, otherwise we will
confirm each subsequent purchase. A confirmation
shows details of your transaction, including the name
of the fund, the number and class of units or shares
you bought, the purchase price and the trade date.
We do not issue certificates of ownership for the
funds.
We may reject your purchase order within one
business day of receiving it. If rejected, any monies
sent with your order will be returned immediately to
your representative’s firm, without interest, once the
payment clears. If we accept your order but do not
receive payment within three business days, except
for money market funds, CI Short-Term Advantage
Corporate Class and Select Staging Fund, where
payment is required the next business day, we will
redeem your units or shares on the next business day.
If the proceeds are greater than the payment you owe,
the difference will belong to the fund. If the proceeds
are less than the payment you owe, your
representative’s firm will be required to pay the
difference and is entitled to collect this amount and
any associated expenses from you.
You and your representative are responsible for
ensuring that your purchase order is accurate and that
we receive all necessary documents and/or
instructions. If we receive a payment or a purchase
order that is otherwise valid but fails to specify a
fund, or if any other documentation in respect of your
purchase order is incomplete, we may invest your
money in Class A units of CI Money Market Fund or
CI US Money Market Fund, as applicable under the
initial sales charge option at 0% sales charge. An
investment in CI Money Market Fund or CI US
Money Market Fund, as applicable will earn you
daily interest until we receive complete instructions
regarding which fund(s) you have selected and all
documentation in respect of your purchase is received
in good order. Your total investment, including
interest, will then be switched into the fund(s) you
have chosen under the class and purchase option you
have selected, without additional charge, at the unit
price of the fund(s) on the applicable switch date.
21 – Part A
Purchase options
There is usually a charge for investing in Class A,
AT5, AT6, AT8, D, E, ET5, ET8, U, UT6 and Z units
and shares. You have two options for Class A, AT5,
AT6, AT8, U, UT6 and Z units and shares: the initial
sales charge or the deferred sales charge. If you do
not make a choice, we will apply the standard
deferred sales charge option, except for CI Money
Market Fund, CI US Money Market Fund, CI ShortTerm Corporate Class, CI Short-Term Advantage
Corporate Class, CI Short-Term US$ Corporate Class
and Select Staging Fund. For these funds, we will
apply the initial sales charge option. Class D, E, ET5
and ET8 units and shares can be purchased only
through the initial sales charge option. Class EF,
EFT5, EFT8, F, FT5, FT8, I, IT5, IT8, O, OT5, OT8,
W, WT5, WT8 and Insight units and shares can be
purchased only through the no load option.
Initial sales charge option
With the initial sales charge option, you usually pay a
sales commission to your representative’s firm when
you buy units or shares of a fund. The sales
commission is a percentage of the amount you invest,
negotiated between you and your representative’s
firm, and cannot exceed 5% of the amount you
invest. We deduct the commission from your
purchase and pay it to your representative’s firm. See
“Dealer Compensation” on page 46 for details and
“Fees and Expenses” starting on page 31.
Deferred sales charge option
Under the deferred sales charge, there are three
options: the standard deferred sales charge, the
intermediate deferred sales charge and the low-load
sales charge (each a “deferred sales charge option”).
If you choose a deferred sales charge option, you pay
no commission when you invest in a fund. The entire
amount of your investment goes toward buying units
or shares and we pay the representative’s commission
directly to your representative’s firm. See “Dealer
Compensation” on page 46 for details. However, if
you sell your units or shares within seven years of
buying them (under the standard deferred sales
charge or intermediate deferred sales charge) or
within three years of buying them (under the lowload sales charge), you will pay a redemption fee
based on the cost of the units or shares you redeem.
Standard deferred sales charge
For the standard deferred sales charge, the
redemption fee starts at 5.5% in the first year and
decreases over a seven year period. If you hold your
units or shares for more than seven years, you pay no
redemption fee. See “Fees and Expenses” starting on
page 31 for the redemption fee schedule.
If you choose the standard deferred sales charge, you
can sell or change some of your units or shares each
year without paying a fee or so that they are no
longer subject to a redemption fee, as applicable. See
“Free redemption of standard deferred sales charge
or intermediate deferred sales charge units or
shares” in the section “Purchases, Switches and
Redemptions – How to sell your units or shares” on
page 23 for details.
Intermediate deferred sales charge
You may use the intermediate deferred sales charge
purchase option to purchase units or shares of a fund
only if you currently hold units or shares of that class
in that fund that were previously purchased using the
intermediate deferred sales charge option (or that
were switched from units or shares of a different
class or fund that were previously purchased using
the intermediate deferred sales charge option). We
may, in our discretion, on a case-by-case basis,
permit you to use the intermediate deferred sales
charge purchase option in circumstances where you
otherwise would not be eligible to use it.
For the intermediate deferred sales charge, the
redemption fee starts at 5.5% in the first year and
decreases over a seven year period. If you hold your
units or shares for more than seven years, you pay no
redemption fee. See “Fees and Expenses” starting
on page 31 for the redemption fee schedule.
If you choose the intermediate deferred sales charge,
you can sell or change some of your units or shares
each year without paying a fee or so that they are no
longer subject to a redemption fee, as applicable. See
“Purchases, Switches and Redemptions - Free
redemption of standard deferred sales charge or
intermediate deferred sales charge units or shares”
on page 24 for details.
Low-load sales charge
For the low-load sales charge, the redemption fee
starts at 3% in the first year and decreases each year
over a three-year period. If you hold your fund units
or shares for more than three years, you pay no
redemption fee. See “Fees and Expenses” on page
31for the redemption fee schedule.
If you choose the low-load sales charge, you may not
sell your units or shares until the beginning of the
fourth year without paying a redemption fee.
22 – Part A
Investment advisory fee option
For Class I, IT5, IT8, O, OT5 and OT8 units and
shares, you negotiate an investment advisory fee with
your representative. Unless otherwise agreed, we
collect the investment advisory fee, by redeeming
(without charges) a sufficient number of units or
shares of each applicable class of fund from your
account. The investment advisory fee is charged on a
monthly or quarterly basis for Class I, IT5 and IT8
units and shares, and on a quarterly basis for Class O,
OT5 and OT8 units and shares.
For Class I, IT5 and IT8 units and shares, the
negotiated investment advisory fee must not exceed
1.25% annually of the net asset value of each
applicable class of fund in your account.
For Class O, OT5 and OT8 units and shares, the
For Class EF, EFT5, EFT8, F, FT5, FT8, V, W,
WT5, WT8, Y and Insight units and shares, you pay
an investment advisory fee, which is negotiated
between you and your representative, and paid to his
or her firm directly.
In certain cases, for Class F, FT5, FT8, V, W, WT5,
WT8, Y and Insight units and shares, we may have an
arrangement to collect the investment advisory fee by
redeeming (without charges) a sufficient number of
units or shares, of each applicable class of fund, from
your account on a quarterly basis. In these cases, the
The negotiated investment advisory fee rate is as set
out in an agreement between you and your
representative. It is the responsibility of your
representative to disclose such fee to you before you
invest. Note that an investment advisory fee of 0%
will be applied by us if we do not receive an
investment advisory fee agreement from your
representative.
Note that such investment advisory fees are subject to
applicable provincial and federal taxes and are in
addition to any other fees that are separately
negotiated with and directly payable to us. For
further details, see “Fees and Expenses” on page 31.
How to sell your units or shares
To sell your units or shares, send your signed
instructions in writing to your representative or to us.
Once we receive your order, you cannot cancel it.
We will send you a confirmation once we have
processed your order. We will send your payment
within three business days of receiving your properly
completed order. You will receive payment in the
currency in which you bought the fund.
Your signature on your instructions must be
guaranteed by a bank, trust company, or
representative’s firm if the sale proceeds are:
 more than $25,000, or
 paid to someone other than the registered owner.
If the registered owner of the units or shares is a
corporation, partnership, agent, fiduciary or surviving
joint owner, we may require additional information.
If you are unsure whether you need to provide a
signature guarantee or additional information, check
with your representative or us.
Selling deferred sales charge units or shares
If you invest under a deferred sales charge option and
you sell those units or shares before the deferred sales
charge schedule has expired, we will deduct the
redemption fee from your sale proceeds. If you sell
units or shares within 30 business days of buying
them, a short-term trading fee may also apply. See
“Fees and Expenses” on page 31 for details about
these fees.
We sell deferred sales charge units or shares in the
following order:
 units or shares that qualify for the free redemption
right,
 units or shares that are no longer subject to the
redemption fee, and
 units or shares that are subject to the redemption
fee.
All units and shares are sold on a first bought, first
sold basis. With respect to units or shares you
received from reinvested distributions, as such
reinvested units are attributed back to each related
tranche of “original” units or shares purchased as
determined by date, we would sell such reinvested
units or shares in the same proportion as we sell units
or shares from the original investment.
Selling certain units or shares bought before the
date of this simplified prospectus
If you bought units or shares of a fund before the date
of this simplified prospectus and sell or transfer those
units or shares, the redemption fee described in the
simplified prospectus that was in effect when you
bought your units or shares will apply.
23 – Part A
Free redemption of standard deferred sales charge
or intermediate deferred sales charge units or
shares
Each year, you can sell some of your standard
deferred sales charge or intermediate deferred sales
charge units or shares that would otherwise be subject
to the redemption fee at no charge. This is called
your free redemption right.
We calculate the
available number of units or shares as follows:
 10% of the number of standard deferred sales
charge or intermediate deferred sales charge units
or shares you bought in the current calendar year,
multiplied by the number of months remaining in
the calendar year (including the month of
purchase) divided by 12, plus
 10% of the number of standard deferred sales
charge or intermediate deferred sales charge units
or shares you held on December 31 of the
preceding year that are subject to the redemption
fee, minus
 the number of units or shares you would have
received if you had reinvested any cash
distributions you received during the current
calendar year.
We may modify or discontinue your free redemption
right at any time in our sole discretion. The free
redemption right only applies if your units or shares
remain invested for the full deferred sales charge
schedule. In calculating redemption fees, we use your
cost of original investment as the basis for fee
calculations.
If you have exercised your free
redemption right and then redeem your units or
shares before the deferred sales charge schedule has
expired, you will have fewer units or shares for
redemption, so the cost of original investment per
unit or share used to calculate your redemption fee
will be higher. This compensates us for the units or
shares redeemed under the free redemption right. In
other words, even if you redeemed units or shares
under the free redemption right, your deferred sales
charge on a full redemption would be the same as if
you had not redeemed any units or shares under the
free redemption right.
If you do not wish to sell the units or shares you
would be entitled to sell under this free redemption
right in any year, you can ask us to change those units
or shares from standard deferred sales charge or
intermediate deferred sales charge units or shares to
initial sales charge units. You will not be charged a
fee for these changes and your costs of owning your
investment will not be affected, but this will increase
the compensation that we will pay your
representative’s firm. See “Dealer Compensation” on
page 46 for details.
How we calculate the redemption fee
The redemption fee applies once you have sold:
 all of your deferred sales charge units or shares
under the free redemption right, and
 all of your deferred sales charge units or shares
that are no longer subject to the redemption fee.
We calculate the redemption fee as follows:
number of
units/shares
you are
selling
×
cost of
original
investment
per unit/share
×
the
redemption
fee rate
In calculating redemption fees, we use your cost of
original investment as the basis for fee calculations.
If you have exercised your free redemption right and
then redeemed your units or shares before the
deferred sales charge schedule has expired, you will
have fewer units or shares for redemption, so the cost
of original investment per unit or share used to
calculate your redemption fee will be higher. See
“Purchases, Switches and Redemptions - Free
redemption of standard deferred sales charge or
intermediate deferred sales charge units or shares”.
If your distributions were reinvested in the fund,
those additional units or shares would be added to the
units or shares attributable to your original
investment.
As a result, the cost of original
investment per unit or share will be lower. If you
hold a fund in a non-registered account, you can ask
to receive the fund’s distributions in cash, which are
not subject to redemption fees. See “Distribution
policy” on page 57.
The redemption fee rate depends on how long you
have held your units or shares. See “Fees and
Expenses” on page 31 for the redemption fee
schedule.
Minimum balance
If the value of your units or shares in a fund is less
than $500 ($5,000 in the case of T-Class Securities
other than ET5, ET8, EFT5, EFT8, OT5 and OT8), or
$100,000 per fund in the case of Class E, ET5, ET8,
EF, EFT5, EFT8, O, OT5 and OT8 (or such other
amount as agreed by us), we can sell your units or
shares and send you the proceeds. We will give your
representative 30 days’ notice first.
If we become aware that you no longer qualify to
hold Class E, ET5, ET8, EF, EFT5, EFT8, F, FT5,
FT8, I, IT5, IT8, O, OT5, OT8, V, W, WT5, WT8, Y
24 – Part A
or Insight units or shares of the funds, we may
change your units or shares to Class A, AT5, AT8, F,
FT5 or FT8 units or shares (whichever is most
comparable) of the same fund after we give your
representative 30 days’ notice.
If the value of your Insight units or Insight shares in
your account is less than $20,000, then we will
change your Insight units or shares to Class A units
or shares of the same fund after we give your
representative 30 days’ notice.
The minimum balance amounts described above are
determined from time to time by us in our sole
discretion. They may also be waived by us and are
subject to change without notice. The current
minimum balance amount may be obtained on our
website at www.ci.com.
We reserve the right to change the minimum required
amount to participate in PIM at any time upon giving
30 days’ prior written notice to your representative’s
firm. If the value of your securities in PIM is less
than the minimum amount we determine (currently
$100,000 per fund (or such other amount as agreed
by us)), your participation in PIM will be terminated
and we can sell your units or shares and send you the
proceeds or switch the securities in your PIM
account(s) to Class A, AT5, AT8, F, FT5 or FT8
units or shares (whichever is most comparable) of the
same fund. In the case you are transferred to Class F,
FT5 or FT8 units or shares, the investment advisory
fee rate you negotiated with your representative will
automatically be applied to your Class F, FT5 or FT8
units or shares. However, before doing so, your
representative will be notified and given 30 days to
arrange for the investment of an amount necessary to
increase the size of your investment to an amount
equal to or greater than the new minimum required
investment size.
Suspending your right to sell units or shares
Securities regulations allow us to temporarily
suspend your right to sell your fund units or shares
and postpone payment of your sale proceeds:
 during any period when normal trading is
suspended on any exchange on which securities or
derivatives that make up more than 50% of the
fund’s value or its underlying market exposure are
traded, provided those securities or derivatives are
not traded on any other exchange that is a
reasonable alternative for the fund,
 during any period when the right to redeem units
or shares is suspended for any underlying fund in
which a fund invests all of its assets directly
and/or through derivatives, or
 with the approval of securities regulators.
We will not accept orders to buy fund units or shares
during any period when we have suspended
investors’ rights to sell units or shares of that fund.
How to transfer or convert your units or shares
Transferring or converting to another fund
You can transfer from one fund to another fund in the
CI Funds family by contacting your representative.
A transfer from one Corporate Class to another
Corporate Class is called a conversion. To effect a
transfer or conversion, give your representative the
name of the fund and the class of units or shares you
hold, the dollar amount or number of units or shares
you want to transfer or convert and the name of the
fund and the class to which you are transferring or
converting.
You can transfer or convert between funds in the
same class that are priced in the same currency. If a
fund is available in both Canadian and U.S. dollars,
you can transfer or convert your units or shares in one
currency to units or shares of the same fund in the
other currency.
If you transfer or convert units or shares you bought
under a deferred sales charge option, the same
deferred sales charge option will apply to your new
units or shares. You pay no redemption fee when
you transfer or convert units or shares you bought
under a deferred sales charge option, but you may
have to pay a redemption fee when you sell the new
units or shares. If the redemption fee applies, we will
calculate it based on the cost of the original units or
shares and the date you bought the original units or
shares.
You may have to pay your representative’s firm a
transfer fee based on the value of the units or shares
you are transferring or converting. However, the
transfer fee is negotiable. If you have held the units
or shares for 30 business days or less, you may also
have to pay a short-term trading fee. The short-term
trading fee does not apply to money market funds or
CI Short-Term Advantage Corporate Class. Transfer
fees and short-term trading fees do not apply to
transfers or conversions that are part of systematic
transactions, including transactions that are part of
the PSS program or the automatic rebalancing
service. See “Fees and Expenses” on page 31 for
details about these fees.
25 – Part A
Currently, converting shares from one Corporate
Class to another Corporate Class is not a disposition
for tax purposes. This means that, until
implementation of the 2016 Federal Budget Proposal,
you will not pay tax on any capital gains accrued in
the shares at the time you make the conversion. Any
other transfer between funds is a disposition for tax
purposes. If you hold your units or shares outside a
registered plan, you may realize a taxable capital
gain.
The 2016 Federal Budget Proposal, if implemented,
will eliminate your ability to convert shares from one
Corporate Class to another Corporate Class on a taxdeferred basis on or after October 1, 2016 or a later
date provided by the Department of Finance Canada.
For more information, see “Canadian Federal
Income Tax Considerations for Investors” starting on
page 49.
Changing or converting to another class
You can change or convert your units or shares of
one class to units or shares of another class of the
same fund by contacting your representative. If you
bought your units or shares under a deferred sales
charge option, you will pay us a reclassification fee at
the time you change to a different class equal to the
redemption fee you would pay if you redeemed your
units or shares. No other fees apply.
You can only change units or shares into a different
class if you are eligible to buy them. You can only
change units or shares into Class AT6, D, U, UT6, V,
Y or Z units or shares of the same fund if you already
own that class of units or shares of that fund.
Changing or converting units or shares from one class
to another class of the same fund is not a disposition
for tax purposes except to the extent that units or
shares are redeemed to pay a reclassification fee. If
those redeemed units or shares are held outside a
registered plan, you may realize a taxable capital
gain.
invested in the mutual fund, which reduces the
amount of the appreciation that is experienced by
other, longer term investors in the mutual fund.
Certain types of mutual funds (such as money market
funds) are intended as short-term investments and
therefore are not adversely affected by short-term
trading.
A fund may charge you a fee of up to 2% of the value
of the units or shares you redeem or switch if you
engage in short-term trading. The short-term trading
fee does not apply to money market funds or CI
Short-Term Advantage Corporate Class. This fee is
paid to the fund and is in addition to any other fees
that may apply. No short-term trading fees are
charged for any systematic transactions, such as
periodic switches or redemptions, or trades as part of
an automatic portfolio rebalancing service or
switches as part of investing in the PSS program. We
may waive the short-term trading fee charged by a
fund for other trades if the size of the trade was small
enough or the short-term trade did not otherwise
harm other investors in the fund. We also may refuse
to accept purchase orders from you and we have the
discretion to redeem some or all of your units or
shares of the funds if we believe you may continue to
engage in short-term trading. See “Purchases,
Switches and Redemptions - Short-term trading” in
the annual information form for additional
information.
The funds do not have any arrangements, formal or
informal, with any person or company to permit
short-term trading.
We will adopt policies on short-term trading
mandated by regulation if and when implemented by
securities regulators. The policies will be adopted
without amendment to the simplified prospectus or
annual information form or notice to you, unless
otherwise required by securities laws.
Short-term trading
Redeeming or switching units or shares of a mutual
fund within 30 business days after they were
purchased, which is referred to as short-term trading,
may have an adverse effect on other investors in the
mutual fund because it can increase trading costs to
the mutual fund to the extent the mutual fund
purchases and sells portfolio securities in response to
each redemption or switch request. An investor who
engages in short-term trading also may participate in
any appreciation in the net asset value of the mutual
fund during the short period that the investor was
26 – Part A
Optional Services
You can take advantage of the following plans and
services when you invest in the funds.
Registered plans and eligible accounts
We offer the following registered plans. Not all of
these plans may be available in all provinces or
territories or through all programs. The funds may be
eligible for other registered plans offered through
your representative. Ask your representative for
details and an application.
 Registered Retirement Savings Plans (RRSPs)*
 Locked-in Retirement Accounts (LIRAs)*
 Locked-in Registered Retirement Savings Plans
(LRSPs)*
 Locked-in Retirement Income Funds (LRIFs)*
 Life Income Funds (LIFs)*
 Deferred Profit Sharing Plans (DPSPs)*
 Registered Education Savings Plans (RESPs)
 Prescribed Retirement Income Funds (PRIFs)*
 Tax-Free Savings Accounts (TFSAs)
 Québec Education Savings Incentive (QESI)
Please note that the registered plans we offer are
available only in Canadian dollars. U.S. Dollar
Funds may not be held within our registered plans.
be held within the registered plans denoted above
with an asterisk (*) (each an “Eligible Account”),
whose plan holders are residents of Canada or the
U.S. for tax purposes.
The following funds are not eligible to be held in
registered plans:
Cambridge U.S. Dividend US$ Fund
CI U.S. Income US$ Pool
CI US Money Market Fund
Automatic rebalancing service
We offer an automatic portfolio rebalancing service
to all investors in the funds. This service can be
applied to any account and monitors when the value
of your investments within the funds deviates from
your target allocations. There is no fee for this
service.
In order to utilize the automatic rebalancing service,
you and your advisor must define the following
rebalancing criteria:
 Frequency date: You must decide if you want
your account rebalanced on a monthly, quarterly,
semi-annual or annual basis. Your account will
be reviewed and, if necessary, rebalanced on the
first Friday in the calendar period of the frequency
you selected. For accounts which are rebalanced
annually, the review and, if necessary, rebalancing
will occur instead on the first Friday in December.
 Registered Retirement Income Funds (RRIFs)*









 Signature Global Income & Growth Corporate
Class
 Signature High Income Corporate Class
 Signature Income & Growth Corporate Class
 Variance percentage: You must determine by
what percentage you will allow the actual values
of your investments in the funds to differ from
your target allocations before triggering a
rebalancing.
 Rebalancing allocation: You must determine if
this service should be applied to include all funds
within your account (identified as “Account
Level”) or only to specific funds within your
account (“Fund Level”).
When the current value of your investment in any
fund varies on the frequency date by more than the
percentage variance you have selected, we will
automatically switch your investments to return to
your target fund allocations for all funds. If 100% of
a fund within your account is redeemed or switched,
your Fund Level allocations will be updated and
proportionately allocated to the remaining active
funds in your target fund allocations. In the case of
Account Level target allocations and PSS Custom
Accounts, the target allocations will remain
unchanged and we will await your further written
instructions.
27 – Part A
The following example shows how the automatic
rebalancing service works:
Frequency
Date:
Quarterly
 we automatically transfer the money from your
bank account to the funds you choose;
Target
Allocation
Current
Value
Difference
Fund A
25.0%
28.1%
+3.1%
Fund B
25.0%
26.3%
+1.3%
Fund C
25.0%
21.7%
-3.3%
Fund D
25.0%
23.9%
-1.1%
Variance
Percentage:
2.5%
minimums waved for investors with an aggregate
investment of $250,000; each subsequent
investment must be at least $5,000).
 you can choose any day of the month to invest
weekly,
bi-weekly,
monthly,
bi-monthly,
quarterly, semi-annually or annually;
 if the date you choose falls on a day that is not a
business day, your units or shares will be bought
the next business day;
 you can choose either the initial sales charge
option or a deferred sales charge option, if
applicable;
 you can change or cancel the plan at any time by
providing us 48 hours’ notice;
At the end of the calendar quarter, we would review
your account and automatically:
 Switch shares out of Fund A equal to 3.1% of
your portfolio into shares of Fund C
 Switch shares out of Fund B equal to 1.1% to
Fund D and 0.2% to Fund C
The automatic rebalancing service is a fundamental
feature of the PSS program. It applies to all PSS
Custom Accounts and automatic rebalancing occurs
quarterly using a 5% variance percentage, unless your
representative sends us different rebalancing criteria
as described above.
The rebalancing criteria
described above do not apply to the PSS Managed
Portfolios and PSS Managed Accounts which instead
are rebalanced when we determine in our discretion.
As described under “Transferring or converting to
another fund”, in some circumstances a switch
between funds made by the automatic rebalancing
service may cause you to realize a taxable capital
gain.
Pre-authorized chequing plan
Our pre-authorized chequing plan allows you to make
regular investments in one or more of the funds in the
amounts you choose. You can start the plan by
completing an application, which is available from
your representative. Here are the plan highlights:
 Except for investments in PIM, your initial
investment and each subsequent investment must
be at least $50 for each class of a fund. For
investments in PIM, the value of your PIM fund /
account must be at least the minimum amount
(currently $100,000 per fund; with fund
 we will confirm your first automatic purchase and
all other transactions will be reported on your
semi-annual and annual statements if your
investments are made no less frequently than
monthly, otherwise we will confirm each
subsequent purchase; and
 to increase your regular investments under the
plan, you need to contact your representative.
CI is not required to send an updated fund facts
document to investors who participate in our preauthorized chequing plan unless they request it at the
time they enroll in the plan or subsequently request it
from their representative. The most recently-filed
fund facts document may be found at
www.sedar.com or www.ci.com. You will not have a
withdrawal right for purchases under the preauthorized chequing plan, other than the initial
purchase or sale, but you will have the rights
described under “What are your legal rights?” on
page 54 for any misrepresentation about the fund
contained in the simplified prospectus, annual
information form, fund facts or financial statements.
Systematic redemption plan
Our systematic redemption plan allows you to receive
regular cash payments from your funds. You can
start the plan by completing an application, which is
available from your representative. Here are the plan
highlights:
 the value of your fund units or shares must be
more than $5,000 ($100,000 for individual
accounts in PIM; with fund minimums waived for
investors in PIM with an aggregate invesetment of
$250,000) to start the plan;
28 – Part A
 the minimum amount you can sell is $50 for each
class of a fund ($250 in the case of PIM);
 you can only transfer or convert between funds
and classes priced in the same currency;
 we automatically sell the necessary number of
units or shares to make payments to your bank
account or a cheque is mailed to you;
 you can choose any day of the month to make
transfers weekly, bi-weekly, monthly, bi-monthly,
quarterly, semi-annually or annually;
 you can choose any day of the month to receive
payments weekly, bi-weekly, monthly, bimonthly, quarterly, semi-annually or annually
except if you hold your units or shares in a RRIF,
LRIF, PRIF or LIF, in which case you can only
choose a day between the 1st and the 25th of the
month for these plan types;
 if the date you choose is not a business day, your
transfer will be processed the previous business
day;
 if the date you choose is not a business day, your
units or shares will be sold the previous business
day;
providing us 48 hours’ notice; and
 we will confirm your first automatic redemption
and all other automatic redemptions will be
reported on your semi-annual and annual
statements if your investments are made no less
frequently than monthly, otherwise we will
confirm each subsequent purchase.
A redemption fee may apply to any units or shares
you bought through a deferred sales charge option.
See “Fees and Expenses” starting on page 31 for
details.
If you withdraw more money than your fund units or
shares are earning, you will eventually use up your
investment.
If you sell units or shares held in a RRIF, LRIF, PRIF
or LIF, any withdrawals in excess of the minimum
prescribed amount for the year will be subject to
withholding tax.
Systematic transfer plan
Our systematic transfer plan allows you to make
regular transfers or conversions from one fund to
another in the CI Funds family, other than Select
Funds. You can start the plan by completing an
application, which is available from your
representative. Here are the plan highlights:
 the minimum transfer or conversion amount is
$50;
providing us 48 hours’ notice; and
 we will confirm your first automatic transfer and
all other automatic transfers will be reported on
your semi-annual and annual statements if your
investments are made no less frequently than
monthly, otherwise we will confirm each
subsequent purchase.
You may have to pay your representative’s firm a
transfer fee based on the value of the units or shares
you are transferring or converting. The short-term
trading fee does not apply to money market funds and
CI Short-Term Advantage Corporate Class. See
“Fees and Expenses” on page 31 for details about
these fees.
You pay no redemption fee when you transfer units
or convert shares you bought under a deferred sales
charge option, but you may have to pay a redemption
fee when you sell them. If the redemption fee
applies, we will calculate it based on the cost of the
original units or shares and date you bought them.
Currently, converting shares from one Corporate
Class to another Corporate Class is not a disposition
for tax purposes. This means that you will not pay
tax on any capital gains accrued in the shares at the
time you make the conversion. Any other transfer
between funds is a disposition for tax purposes. If
you hold your units or shares outside a registered
plan, you may realize a taxable capital gain.
will eliminate your ability to switch from one
Corporate Class to other Corporate Classes on a taxdeferred basis, on or after October 1, 2016 or a later
For more information see “Canadian Federal Income
Tax Considerations for Investors” starting on page
49.
 we automatically sell units or convert shares you
hold in the fund, class and sales charge option you
specify and transfer your investment to another
fund of your choice in the same class and sales
charge option;
29 – Part A
Flexible T-Class service
If you hold T-Class Securities, you may customize
the regular monthly cash distributions you receive by
selecting the funds and instructing us to pay a portion
of the monthly cash distributions with any difference
being automatically reinvested in that same fund.
This service is not available to you if you own Class
AT6 or UT6 units or shares.
30 – Part A
Fees and Expenses
The table below shows the fees and expenses you may have to pay if you invest in funds. You may have to pay
some of these fees and expenses directly. The fund may have to pay some of these fees and expenses, which will
reduce the value of your investment.
Fees and expenses payable by the funds
Management fees
Each class of units or shares of a fund (other than Class I, IT5, IT8, O,
OT5 and OT8 units or shares) pays us a management fee. Investors of
Class I, IT5, IT8, O, OT5 and OT8 units and shares pay management
fees directly to us, as set out in the section below headed “Fees and
expenses payable directly by you”.
Management fees are paid in consideration of providing, or arranging
for the provision of management, distribution, portfolio management
services and oversight of any portfolio sub-advisory services provided
in relation to the fund as well as any applicable sales and trailing
commissions and marketing and promotion of the fund. Management
fees are calculated and accrued daily based on the net asset value of
each class of units or shares of a fund on the preceding business day,
and are subject to applicable taxes including H.S.T., G.S.T. and Q.S.T.
These fees are generally paid daily or, in certain cases, monthly.
The maximum annual management fee rates for each class of the
funds (other than Class I, IT5, IT8, O, OT5 and OT8 units or shares)
are set out on page 33.
Administration fees and operating
expenses
We bear all of the operating expenses of the funds (other than certain
taxes, borrowing costs, certain new governmental fees and certain
forward agreement costs) (the “Variable Operating Expenses”) in
return for fixed administration fees. These Variable Operating
Expenses include transfer agency, pricing and accounting fees, which
include processing purchases and sales of fund securities and
calculating fund unit/share prices; legal, audit and custodial fees;
administrative costs and trustee services relating to registered tax
plans; filing fees; the costs of preparing and distributing fund financial
reports, simplified prospectuses, fund facts and other investor
communications. Not included in the Variable Operating Expenses
are (a) taxes of any kind charged directly to the funds (principally
income tax and G.S.T. or H.S.T. on its management and
administration fees), (b) borrowing costs incurred by the funds from
time to time, (c) any new fees that may be introduced by a securities
regulator or other governmental authority in the future that is
calculated based on the assets or other criteria of the funds, and (d)
costs associated with their forward agreements, if any. For greater
certainty, the current costs associated with their forward agreements
are less than 0.40% but may change from time to time. The purchase
price of all securities and other property acquired by or on behalf of
the funds (including brokerage fees, commissions and service charges
paid to purchase and sell such securities and other property) are
considered capital costs and therefore not included in Variable
Operating Expenses. For greater certainty, we will bear all taxes (such
31 – Part A
as G.S.T., H.S.T. and provincial sales taxes) charged to us for
providing the goods, services and facilities included in the Variable
Operating Expenses. However, fees charged directly to investors are
not included in the Variable Operating Expenses.
Each class of units or shares of a fund (other than I, IT5, IT8, E, ET5,
ET8, EF, EFT5, EFT8, O, OT5 and OT8 units or shares) pays us an
administration fee. Administration fees are calculated and accrued
daily based on the net asset value of each class of units or shares of a
fund on the preceding business day. These fees are generally paid
daily or, in certain cases, monthly, and are subject to applicable taxes
including H.S.T., G.S.T. and Q.S.T. The annual administration fee
rates for each class of the funds (other than I, IT5, IT8, E, ET5, ET8,
EF, EFT5, EFT8, O, OT5 and OT8 units or shares) are set out in the
table below. No administration fee applies in respect of Class I, IT5,
IT8 units or shares because separate fee and expense arrangements are
established in each Class I Account Agreement. No administration fee
applies to Class E, ET5, ET8, EF, EFT5, EFT8, O, OT5 and OT8 units
or shares, as these classes are subject to a PIM Administration Fee (as
described in the section below headed “PIM Administration Fees and
operating expenses”).
PIM Administration Fees and operating
expenses
With respect to Class E, ET5, ET8, EF, EFT5, EFT8, O, OT5, OT8
units and shares, we bear all of the Variable Operating Expenses in
return for PIM Administration Fees. Refer to the section above
headed “Administration fees and operating expenses” for a list of
taxes, costs and fees not included in Variable Operating Expenses.
Fees charged directly to investors are not included in the PIM
Administration Fee.
The annual PIM Administration Fee rate for Class E, ET5, ET8, EF,
EFT5, EFT8, O, OT5 and OT8 units and shares of the funds (other
than CI Money Market Fund, CI Short-Term Advantage Corporate
Class, CI Short-Term Corporate Class and CI Short-Term US$
Corporate Class) is 0.15%. PIM Administration Fees are calculated
and accrued daily based on the net asset value of each class of units or
shares of a fund on the preceding business day. These fees are
generally paid daily or, in certain cases, monthly.
No PIM
Administration Fee applies to Class E, EF or O units or shares of CI
Money Market Fund, CI Short-Term Advantage Corporate Class, CI
Short-Term Corporate Class and CI Short-Term US$ Corporate Class.
No PIM Administration Fee applies in respect of any other classes of
units or shares (other than Class E, ET5, ET8, EF, EFT5, EFT8, O,
OT5 and OT8 units and shares as described above).
32 – Part A
Maximum annual management fee (%) *
Administration
fee (%) **
Class A,
AT5, AT6,
AT8
units/shares
Class F,
FT5, FT8,
W, WT5,
WT8
units/shares
Class E,
ET5, ET8
units/shares
Class EF,
EFT5,
EFT8
units/shares
Insight
units/
shares
(other than
Class E, ET5,
ET8, EF, EFT5,
EFT8, I, IT5,
IT8, O, OT5 or
OT8 units or
shares)
Equity Funds
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
n/a
0.21
Cambridge Canadian Dividend Fund
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.20
Cambridge Canadian Growth Companies Fund
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
Cambridge Pure Canadian Equity Fund
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
n/a
0.21
Cambridge U.S. Dividend Registered Fund
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
n/a
0.21
CI American Value Fund
2.00
1.00
1.95
0.95
1.11
0.21
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
n/a
0.20
CI Canadian Dividend Fund
2.00
1.00
1.95
0.95
n/a
0.20
CI Canadian Investment Fund
1.95
1.00
1.95
0.95
0.95
0.20
1.95
1.00
1.95
0.95
n/a
0.20
CI Canadian Small/Mid Cap Fund
2.00
1.00
1.95
0.95
n/a
0.20
CI Global Fund
2.00
1.00
1.95
0.95
1.11
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.10
1.10
1.95
n/a
n/a
0.20
2.10
1.10
1.95
n/a
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
CI Global Small Companies Fund
2.00
1.00
1.95
0.95
1.00
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
1.11
0.22
2.00
1.00
1.95
0.95
n/a
0.22
Fund
33 – Part A
Administration
fee (%) **
Class A,
AT5, AT6,
AT8
units/shares
Class F,
FT5, FT8,
W, WT5,
WT8
units/shares
Class E,
ET5, ET8
units/shares
Class EF,
EFT5,
EFT8
units/shares
Insight
units/
shares
(other than
Class E, ET5,
ET8, EF, EFT5,
EFT8, I, IT5,
IT8, O, OT5 or
OT8 units or
shares)
CI Pacific Fund
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
Harbour Fund
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.20
2.25
1.25
1.95
0.95
n/a
0.22
2.25
1.25
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
Signature Global Resource Fund
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.20
Signature Global Science & Technology Corporate Class
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
1.11
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
Signature Select Canadian Fund
2.00
1.00
1.95
0.95
0.95
0.20
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
n/a
0.21
2.00
1.00
1.95
0.95
0.95
0.20
2.00
1.00
1.95
0.95
n/a
0.22
Balanced Funds
2.00
1.00
1.85
0.85
n/a
0.22
2.00
1.00
1.85
0.85
n/a
0.22
2.00
1.00
1.85
0.85
n/a
0.20
2.00
1.00
1.85
0.85
n/a
0.22
Harbour Growth & Income Fund
2.00
1.00
1.85
0.85
n/a
0.20
2.00
1.00
1.85
0.85
n/a
0.20
Signature Canadian Balanced Fund
2.00
1.00
1.85
0.85
n/a
0.20
2.00
1.00
1.85
0.85
n/a
0.22
2.00
1.00
1.85
0.85
n/a
0.22
2.00
1.00
1.85
0.85
n/a
0.20
2.00
1.00
1.85
0.85
n/a
0.20
Synergy Tactical Asset Allocation Fund
1.95
0.95
1.85
0.85
n/a
0.22
Cambridge Global High Income Fund (formerly
Cambridge High Income Fund)
1.90
0.90
1.85
0.85
n/a
0.20
1.90
0.90
1.85
n/a
n/a
0.20
Fund
34 – Part A
Administration
fee (%) **
Class A,
AT5, AT6,
AT8
units/shares
Class F,
FT5, FT8,
W, WT5,
WT8
units/shares
Class E,
ET5, ET8
units/shares
1.90
0.90
CI Income Fund
1.50
0.75
1.35
CI Investment Grade Bond Fund
Class EF,
EFT5,
EFT8
units/shares
Insight
units/
shares
(other than
Class E, ET5,
ET8, EF, EFT5,
EFT8, I, IT5,
IT8, O, OT5 or
OT8 units or
shares)
1.85
n/a
n/a
0.20
1.65
0.65
n/a
0.17
0.85
1.15
0.65
n/a
0.17
1.35
0.85
1.05
0.55
n/a
0.17
CI Money Market Fund
1.00
0.75
0.55
0.55
0.80
Nil
1.00
n/a
n/a
n/a
n/a
Nil
1.00
0.75
0.55
n/a
n/a
Nil
1.00
0.75
0.55
0.55
n/a
Nil
1.00
n/a
0.55
n/a
n/a
Nil
1.75
0.85
1.20
0.70
n/a
0.20
1.70
0.85
1.30
0.55
n/a
0.20
1.50
0.85
1.30
0.55
n/a
0.20
1.90
0.90
1.85
0.85
n/a
0.20
Signature Canadian Bond Fund
1.35
0.85
1.05
0.55
0.85
0.17
1.35
0.85
1.05
0.55
n/a
0.17
Signature Corporate Bond Fund
1.70
0.85
1.05
0.55
0.95
0.20
1.70
0.85
1.05
0.55
n/a
0.20
1.90
0.90
1.85
n/a
n/a
0.20
1.90
0.90
1.85
n/a
n/a
0.20
1.90
0.90
1.85
0.85
n/a
0.20
Signature Dividend Fund
1.50
1.00
1.95
0.95
n/a
0.20
1.50
1.00
1.95
0.95
n/a
0.20
1.75
1.00
1.05
0.55
1.11
0.18
1.75
1.00
1.05
0.55
n/a
0.18
2.00
1.00
1.95
0.95
n/a
0.28
Signature High Income Fund
1.25
0.75
1.75
0.75
n/a
0.20
1.25
0.75
1.75
0.75
n/a
0.20
1.70
0.85
1.30
n/a
n/a
0.20
1.70
0.85
1.30
n/a
n/a
0.20
1.70
0.85
1.30
0.55
n/a
0.20
Signature Preferred Share Pool
1.35
0.65
1.05
0.55
n/a
0.17
Signature Short-Term Bond Fund
1.30
0.75
1.05
0.55
n/a
0.17
Signature Tactical Bond Pool
1.35
0.65
1.05
0.55
n/a
0.17
Portfolio Series
2.00
0.90
1.85
0.85
n/a
0.20
2.00
1.00
1.85
0.85
n/a
0.22
1.90
0.90
1.85
0.85
n/a
0.20
2.00
1.00
1.85
0.85
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.22
1.65
0.90
1.85
0.85
n/a
0.17
2.00
1.00
1.95
0.95
n/a
0.22
Fund
35 – Part A
Administration
fee (%) **
Class A,
AT5, AT6,
AT8
units/shares
Class F,
FT5, FT8,
W, WT5,
WT8
units/shares
Class E,
ET5, ET8
units/shares
Class EF,
EFT5,
EFT8
units/shares
Insight
units/
shares
(other than
Class E, ET5,
ET8, EF, EFT5,
EFT8, I, IT5,
IT8, O, OT5 or
OT8 units or
shares)
1.75
0.90
1.75
0.75
n/a
0.18
1.80
0.90
1.75
0.75
n/a
0.18
1.90
0.90
1.85
0.85
n/a
0.19
1.90
0.90
1.85
0.85
n/a
0.19
1.90
0.90
1.85
0.85
n/a
0.19
1.95
0.95
1.95
0.95
n/a
0.20
1.95
0.95
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.21
1.65
0.90
1.65
0.65
n/a
0.17
2.00
1.00
1.95
0.95
n/a
0.20
2.00
1.00
1.95
0.95
n/a
0.22
2.00
1.00
1.95
0.95
n/a
0.21
Select Staging Fund
1.00
0.75
n/a
n/a
n/a
Nil
Fund
* The table above details the maximum management fees that can be charged
and the administration fees. In the case of Class E, ET5, ET8, EF, EFT5 and
EFT8 units and shares, management fee rebates and/or distributions may
apply.
Note: Management fees applicable to Class D, U, UT6, V, Y and Z units and
shares are set out in Part B of the simplified prospectus applicable to such
securities.
** The table above details the administration fees that can be charged. For
further details on administration fees, please see the “Administration fees and
operating expenses” section above.
No management fees are charged to the funds for Class I, IT5, IT8, O, OT5 or
OT8 units or shares. Instead, in the case of Class I, IT5 and IT8 units or
shares, each investor will pay a separate fee, up to a maximum of 1.35%
annually of the net asset value of the fund in his / her account, depending on
the class of investments, which is payable directly to us and includes a
management fee and an administration fee. In the case of Class O, OT5 and
OT8 units or shares, each investor will pay a separate fee, up to a maximum
of 0.95% annually of the net asset value of the fund in his / her account,
depending on the class of investment, which is payable directly to us and
includes the management fee. For further details on Class I Account
Agreement Fees and Class O Management Fees, please see “Fees and
expenses payable directly by you”.
36 – Part A
Management fee rebates and/or
distributions
We may reduce or waive the management fees that we are entitled to
charge. We can charge the maximum rate of the annual management
fee without giving notice to securityholders.
Large investments
If you make a large investment in a fund, or participate in a program
we offer for larger accounts, we may reduce our usual management
fee that would apply to your investment in the fund.
For Corporate Classes, we rebate to you a portion of our usual
management fee that would apply to your investment in the fund. For
all other funds, the fund pays you the amount of the reduction in the
form of a distribution. For all classes with a prescribed management
fee rate, other than Class E, ET5, ET8, EF, EFT5 and EFT8, we will
reinvest the rebate or distribution in the fund, unless you tell us you
want to receive it in cash or reinvest it in another fund.
CI Private Investment Management - Fee Reduction Program
If you invest in Class E, ET5, ET8, EF, EFT5, and/or EFT8 units or
shares and have a minimum investment of $250,000 in a single
account with us, we may, in our sole discretion, offer you the
opportunity to participate in the Fee Reduction Program. The Fee
Reduction Program will allow you to benefit from management fee
rebates and/or distributions.
The calculation of the average net asset value of Class E, ET5, ET8,
EF, EFT5 and EFT8 units or shares of the funds for the Fee Reduction
Program will be based on an investor’s daily aggregate investment in
Class E, ET5, ET8, EF, EFT5 and EFT8 units or shares of the funds
during each quarter. Near the end of each quarter, the fees that would
otherwise be payable indirectly by the investor who qualified and
participated in the Fee Reduction Program will be rebated or
distributed to the investor in the form of a reinvestment in additional
units or shares of the respective class of the funds. There is no option
to have the distribution or rebate paid out in cash.
We may vary the terms, conditions and investor qualifications of the
Fee Reduction Program from time to time in our sole discretion or
may discontinue the program.
Independent Review Committee Fees
Each IRC member (other than the Chairman) is paid, as compensation
for his or her services, $36,000 per annum plus $9,000 for each
meeting attended. The Chairman is paid $44,000 per annum plus
$11,000 for each meeting attended. Each year the IRC determines and
discloses its compensation in its annual report to securityholders of the
funds. We reimburse the funds out of our administration fees for the
fees and expenses of the IRC.
Underlying fund fees and expenses
There are fees and expenses payable by the underlying funds in
addition to the fees and expenses payable by funds that invest in or
obtain exposure to underlying funds (each a “top fund”). However, no
management fees or administration fees are payable by a top fund that,
to a reasonable investor, would duplicate a fee payable by an
underlying fund for the same service. Consequently, there will be no
duplication of management fees or administration fees as a result of an
investment in a top fund rather than direct investments in the
37 – Part A
underlying funds. No sales or redemption fees are payable by a top
fund for investing in underlying funds managed by us or any of our
affiliates or associates, and no sales or redemption fees are payable by
a top fund for investing in underlying mutual funds that, to a
reasonable investor, would duplicate a fee payable by an investor in
the top fund.
Fees and expenses payable directly by you
Sales charge
Initial sales charge option
You may have to pay your representative’s firm a sales charge when
you buy Class A, AT5, AT6, AT8, D, E, ET5, ET8, U, UT6 or Z units
or shares under the initial sales charge option. You can negotiate this
charge with your representative, but it must not exceed 5% of the
amount you invest. We collect the sales charge that you owe your
representative’s firm from the amount you invest and pay it to your
representative’s firm as a commission.
Redemption fee
Standard deferred sales charge or
intermediate
deferred sales charge
option
Standard deferred sales charge option
You do not pay a sales charge to your representative’s firm when you
buy Class A, AT5, AT6, AT8, U, UT6 or Z units or shares under the
standard deferred sales charge or intermediate deferred sales charge
option. You will pay a redemption fee to us if you sell them within
seven years of buying them, unless you qualify for a free redemption.
The tables below shows the redemption fee schedule:
Securities sold during the following
period
within the first year of purchase
within the second year of purchase
within the third year of purchase
within the fourth year of purchase
within the fifth year of purchase
within the sixth year of purchase
within the seventh year of purchase
after the seventh year of purchase
Redemption fee
rate
5.5%
5.0%
5.0%
4.0%
4.0%
3.0%
2.0%
None
The redemption fee applies after you have sold all of your standard
deferred sales charge units or shares under the free redemption right
and all of your standard deferred sales charge units or shares that are
no longer subject to the redemption fee. The redemption fee is
calculated based on the cost of your original investment, and such fee
is deducted from your redemption proceeds. See page 24 for a
description of how we calculate the redemption fee.
Intermediate deferred sales charge option
period
within the fourth year of purchase
within the fifth year of purchase
within the sixth year of purchase
within the seventh year of purchase
after the seventh year of purchase
38 – Part A
Redemption fee
rate
5.5%
5.0%
4.5%
4.0%
3.5%
3.0%
1.5%
None
The redemption fee applies after you have sold all of your
intermediate deferred sales charge units or shares under the free
redemption right and all of your intermediate deferred sales charge
units or shares that are no longer subject to the redemption fee. The
redemption fee is calculated based on the cost of your original
investment, and such fee is deducted from your redemption proceeds.
See page 24 for a description of how we calculate the redemption fee.
Low-load sales charge option
You do not pay a sales charge to your representative’s firm when you
buy Class A, AT5, AT6, AT8, U, UT6 or Z units or shares under the
low-load sales charge option. You will pay a redemption fee to us if
you sell them within three years of buying them. The redemption fee
is calculated based on the cost of your original investment, and such
fee is deducted from your redemption proceeds. The table below
shows the redemption fee schedule:
period
after the third year of purchase
Redemption fee
rate
3.0%
2.5%
2.0%
None
Certain securities bought before the date of this simplified prospectus
may be subject to different deferred sales charges. See page 23 for
details.
Transfer or conversion fee
You may have to pay your representative’s firm a transfer fee of up to
2% of the net asset value of the units or shares of the fund you are
transferring or converting to a different fund. You can negotiate this
fee with your representative. We collect the transfer or conversion fee
on behalf of your representative’s firm and pay it to your
representative’s firm. This fee does not apply to transfers and
conversions that are systematic transactions, including such
transactions that are part of the PSS program and the automatic
rebalancing service.
You pay no redemption fee when you transfer or convert to different
fund units or shares you bought under a deferred sales charge option,
but you may have to pay a redemption fee when you sell the new units
or shares. We calculate the redemption fee based on the cost of the
original units or shares and the date you bought the original units or
shares.
Reclassification fee
If you are transferring or converting Class A, AT5, AT6, AT8, U, UT6
or Z units or shares to a different class of units or shares of the same
fund, you may have to pay to us a reclassification fee if you bought
your Class A, AT5, AT6, AT8, U, UT6 or Z units or shares under a
deferred sales charge option. The reclassification fee is equal to the
redemption fee you would pay if you redeemed your Class A, AT5,
AT6, AT8, U, UT6 or Z units or shares. See the redemption fee
schedules, as well as the methods of calculation and collection, above.
Short-term trading fee
A fund may charge you a short-term trading fee of up to 2% of the net
asset value of the units or shares of the fund you redeem or transfer, if
you sell or transfer your units or shares within 30 business days of
39 – Part A
buying them. The fee is collected by us by redeeming, without
charges, a sufficient number of units or shares from your account and
paid to the fund from which you redeemed or transferred. This fee
does not apply to money market funds, CI Short-Term Advantage
Corporate Class, systematic transactions including transfers and
conversions as part of the PSS program or the automatic rebalancing
service, or switches to a different class of the same fund. We may also
refuse to accept further purchase orders from you if we believe you
may continue to engage in short-term trading.
We will adopt policies on short-term trading mandated by regulation,
if and when implemented by securities regulators. These policies will
be adopted without amendment to the simplified prospectus or notice
to you, unless otherwise required by securities laws.
The short-term trading fee is in addition to any other fees you would
otherwise be subject to under this simplified prospectus.
Registered plan fees
None
Other fees
Pre-authorized chequing plan
None
Systematic redemption plan
None
Systematic transfer plan
None
Automatic rebalancing service
None
Flexible T-Class service
None
Investment advisory fee
For Class I, IT5, IT8, O, OT5 and OT8 units and shares, you negotiate
an investment advisory fee with your representative. Unless otherwise
agreed, we collect the investment advisory fee, by redeeming
(without charges) a sufficient number of units or shares of each
applicable class of fund from your account. The investment advisory
fee is charged on a monthly or quarterly basis for Class I, IT5 and IT8
units and shares, and on a quarterly basis for Class O, OT5 and OT8
units and shares.
For Class I, IT5 and IT8 units and shares, the negotiated investment
advisory fee must not exceed 1.25% annually of the net asset value of
each applicable class of fund in your account.
For Class O, OT5 and OT8 units and shares, the negotiated investment
For Class EF, EFT5, EFT8, F, FT5, FT8, V, W, WT5, WT8, Y and
Insight units and shares, you pay an investment advisory fee, which is
negotiated between you and your representative, and paid to his or her
firm directly.
In certain cases, for Class F, FT5, FT8, V, W, WT5, WT8, Y and
Insight units and shares, we may have an arrangement to collect the
investment advisory fee by redeeming (without charges) a sufficient
number of units or shares, of each applicable class of fund, from your
40 – Part A
account on a quarterly basis. In these cases, the negotiated investment
The negotiated investment advisory fee rate is as set out in an
agreement between you and your representative.
It is the
responsibility of your representative to disclose such fee to you before
you invest. Note that an investment advisory fee of 0% will be
applied by us if we do not receive an investment advisory fee
agreement from your representative.
Note that such investment advisory fees are subject to applicable
provincial and federal taxes and are in addition to any other fees that
are separately negotiated with and directly payable to us. For further
details, see “Fees and Expenses” on page 31.
Class I Account Agreement Fee
For Class I, IT5 and IT8 units and shares, you negotiate a fee with us,
up to a maximum of 1.35% annually of the net asset value of Class I,
IT5 and IT8 units or shares of each fund in your account, depending
on the asset class of the investments. This includes a management fee
and an administration fee. Class I Account Agreement Fees are
calculated and accumulated daily based on the net asset value of Class
I, IT5 and IT8 units and shares of fund(s) in your account on the
preceding business day. The accumulated fees are collected by us
monthly by the redemption (without charges) of a sufficient number
of units or shares of each applicable class of fund from your account.
Class O Management Fee
For Class O, OT5 and OT8 units and shares, you are charged a
management fee by us and payable directly to us quarterly by the
redemption (without charges) of a sufficient number of units or shares
of each applicable class of fund in the your account. The Class O
Management Fee is paid in consideration of providing, or arranging
for the provision of management, distribution, portfolio management
services and oversight of any portfolio sub-advisory services provided
in relation to the funds, as well as sales and trailing commissions and
marketing and promotion of the fund. Class O Management Fees are
calculated and accumulated daily based on the net asset value of Class
O, OT5 and OT8 units and shares of fund(s) in the your account on
the preceding business day. The maximum annual rates of Class O
Management Fee are as follows (fee reductions may apply):
Fund
Class O
Management
Fee (%)
Cambridge Global High Income Fund (formerly Cambridge
High Income Fund)
0.85
0.85
0.85
CI Income Fund
0.65
0.65
0.55
0.55
0.55
0.55
0.55
41 – Part A
0.70
0.55
0.55
0.85
0.55
0.55
0.55
0.55
0.85
0.85
0.85
0.95
0.95
0.55
0.55
0.95
0.75
0.75
0.55
0.55
0.55
0.55
0.55
0.55
Balanced Funds
0.85
0.85
0.85
0.85
0.85
0.85
0.85
0.85
0.85
0.85
0.85
0.85
Canadian Equity Funds
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
Harbour Fund
0.95
0.95
42 – Part A
0.95
0.95
0.95
0.95
U.S. Equity Funds
0.95
0.95
0.95
0.95
0.95
CI American Managers Corporate Class
0.95
0.95
0.95
0.95
0.95
0.95
0.95
Global Equity Funds
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
CI Global Fund
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
CI Pacific Fund
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
0.95
Signature Global Science & Technology Corporate Class
0.95
0.95
0.95
43 – Part A
Administrative fees
0.95
0.95
0.95
0.95
Portfolio Series
0.85
0.85
0.85
0.85
0.95
0.85
0.95
0.75
0.75
0.85
0.85
0.85
0.95
0.95
0.95
0.65
0.95
0.95
0.95
There is a $25 charge for all cheques returned because of insufficient
funds.
44 – Part A
Impact of sales charges
The table below shows the fees you would have to
pay if you bought units or shares of a fund under our
different purchase options. It assumes that:
 you invest $1,000 in the fund for each period and
sell all of your units or shares immediately before
the end of that period;
 the sales charge under the initial sales charge
option is 5%;
 the redemption fee under a deferred sales charge
option applies only if you sell your units or shares
before the deferred sales charge schedule has
expired. You can sell some of your standard
deferred sales charge units or shares each year
without paying the redemption fee. See “Fees
and Expenses” starting on page 31 for the
redemption fee schedule; and
 you have not exercised your free redemption right
under the standard deferred sales charge option.
When you buy your
units or shares
1
year
3
years
5
years
10
years
-
-
-
-
$55.00
$50.00
$40.00
-
$55.00
$45.00
$35.00
-
-
$30.00
$20.00
-
-
n/a
n/a
n/a
n/a
n/a
Initial sales charge
option
All Funds
$50.00
Standard deferred sales
charge option
All Funds
-
Intermediate deferred
sales charge option
All Funds
-
Low-load sales charge
option
All Funds
No load option
All Funds
Class A, AT5, AT6, AT8, U, UT6 and Z units and
shares can be purchased only through the initial sales
charge option or a deferred sales charge option.
Class D, E, ET5 and ET8 units and shares can be
purchased only through the initial sales charge
option. Class EF, EFT5, EFT8, F, FT5, FT8, O,
OT5, OT8, W, WT5, WT8, I, IT5, IT8, V, Y and
Insight units and shares can be purchased only
through the no load option.
45 – Part A
Dealer Compensation
This section explains how we compensate your
representative’s firm when you invest in the funds.
Sales commissions
Your representative’s firm may receive a commission
when you buy Class A, AT5, AT6, AT8, D, E, ET5,
ET8, U, UT6 or Z units or shares of a fund. The
amount of the commission depends on the fund and
the purchase option you choose:
 up to 5% of the amount you invest when you buy
units or shares of a fund under the initial sales
charge option. The commission is paid by you
and is deducted from your investment.
 4% of the amount you invest when you buy units
or shares under the intermediate deferred sales
charge option. The commission is not deducted
from your investment - we pay your
representative’s firm directly.
 5% of the amount you invest when you buy units
or shares under the standard deferred sales charge
option. The commission is not deducted from
your investment - we pay your representative’s
firm directly.
 Up to 2.5% of the amount you invest when you
buy units or shares under the low-load sales
charge option. The commission is not deducted
from your investment - we pay your
representative’s firm directly.
Transfer fees
You may have to pay your representative’s firm a fee
of up to 2% of the value of the units or shares you are
transferring or converting to a different fund, which
is deducted from the amount you transfer or convert.
This fee does not apply to transfers and conversions
that are part of systematic transactions, including
such transactions that are part of the PSS program
and the automatic rebalancing service.
Trailing commissions and investment advisory
fees
Class I, IT5, IT8, O, OT5, OT8, V, W, WT5, WT8,
Y, Insight, F, FT5 and FT8 units and shares
your representative. Unless otherwise agreed, we
collect the investment advisory fee, by redeeming
(without charges) a sufficient number of units or
shares of each applicable class of fund from your
account. The investment advisory fee is charged on a
monthly or quarterly basis for Class I, IT5 and IT8
units and shares, and on a quarterly basis for Class O,
OT5 and OT8 units and shares.
For Class I, IT5 and IT8 units and shares, the
For Class O, OT5 and OT8 units and shares, the
For Class EF, EFT5, EFT8, F, FT5, FT8, V, W,
WT5, WT8, Y and Insight units and shares, you pay
an investment advisory fee, which is negotiated
between you and your representative, and paid to his
or her firm directly.
In certain cases, for Class F, FT5, FT8, V, W, WT5,
WT8, Y and Insight units and shares, we may have an
arrangement to collect the investment advisory fee by
redeeming (without charges) a sufficient number of
units or shares, of each applicable class of fund, from
your account on a quarterly basis. In these cases, the
The negotiated investment advisory fee rate is as set
out in an agreement between you and your
representative. It is the responsibility of your
representative to disclose such fee to you before you
invest. Note that an investment advisory fee of 0%
will be applied by us if we do not receive an
investment advisory fee agreement from your
representative.
Note that such investment advisory fees are subject to
applicable provincial and federal taxes and are in
addition to any other fees that are separately
negotiated with and directly payable to us. For
further details, see “Fees and Expenses” on page 31.
For Class I, IT5, IT8, O, OT5 and OT8 units and
shares, you negotiate an investment advisory fee with
46 – Part A
Annual trailing commission rate (%)
Class A, AT5, AT6, AT8, E, ET5, ET8, D, U, UT6
and Z units and shares
We pay your representative’s firm a trailing
commission on Class A, AT5, AT6, AT8, D, E, ET5,
ET8, U, UT6 and Z units and shares for ongoing
services they provide to investors, including
investment advice, account statements and
newsletters. We also pay a trailing commission to the
discount broker for Class A, AT5, AT6, AT8, D, E,
ET5, ET8, U, UT6 and Z units and shares you
purchase through your discount brokerage account.
The maximum rates of the trailing commission for
these classes, other than Class D, depends on the type
of fund and the purchase option you choose.
Class A, AT5, AT6, AT8, D, U, UT6 and Z units and
shares
The maximum rates of trailing commission for these
classes are set out below:
Annual trailing commission rate (%)
(up to)
Initial Sales
Charge
Standard or
Low-Load
Deferred Sales
Charge
All Equity and
Balanced Funds other
than the funds noted
below:
1.00%
0.50%
Harbour Growth &
Income Fund (Class Z
units)
0.75%
0.25%
Signature Canadian
Balanced Fund (Class Z
units)
0.50%
0.25%
Signature Select
Canadian Fund (Class Z
units)
0.50%
0.25%
All Income / Specialty
Funds other than the
funds noted below:
0.50%
0.25%
Cambridge Global High
Income Fund (formerly
Cambridge Global High
Income Fund)
1.00%
0.50%
Cambridge Income
Fund
1.00%
0.50%
Cambridge Income
Corporate Class
1.00%
0.50%
Marret High Yield Bond
Fund
0.75%
0.30%
Marret Strategic Yield
Fund
1.00%
0.50%
Select Income Managed
Corporate Class
1.00%
0.50%
Signature Diversified
1.00%
0.50%
(up to)
Initial Sales
Charge
Standard or
Low-Load
Deferred Sales
Charge
Yield Corporate Class
1.00%
0.50%
Yield II Fund
1.00%
0.50%
Signature Gold
Corporate Class
1.00%
0.50%
Signature High Yield
Bond Fund
0.75%
0.30%
Bond Corporate Class
0.75%
0.30%
Bond II Fund
0.75%
0.30%
CI Income Fund
0.75%
0.30%
Signature Canadian
Bond Fund (Class Z
units)
0.25%
0.25%
0.25%
none
CI US Money Market
Fund
0.25%
none
CI Short-Term
Advantage Corporate
Class
0.25%
none
CI Short-Term
Corporate Class
0.25%
none
CI Short-Term US$
Corporate Class
0.25%
none
All Portfolio Series
and Portfolio Select
Series funds other than
the funds noted below:
1.00%
0.50%
Portfolio Series Income
Fund
0.50%
0.25%
none
none
Yield Fund
Select Staging Fund
The maximum annual trailing commission rate for
the intermediate deferred sales charge option is
0.65%.
The standard deferred sales charge and intermediate
deferred sales charge trailing commission rate
changes to the initial sales charge trailing
commission rate on the seventh anniversary of the
investment.
The low-load sales charge trailing commission paid
to your representative’s firm equals the standard
deferred sales charge trailing commission rate for the
first three years from the date of the investment and is
changed to the initial sales charge trailing
commission rate on the third anniversary of the
investment.
47 – Part A
For all Class D units and shares, the maximum
trailing commission is 0.50%.
The trailing commissions are calculated monthly and
payable monthly or quarterly based on the total client
assets invested in Class A, AT5, AT6, AT8, D, U,
UT6 and Z units and shares of CI Funds held by all of
a representative’s clients throughout the month. We
can change or cancel trailing commissions at any
time, at our discretion and without prior notice.
You may ask us to change the units or shares subject
to your free redemption right from deferred sales
charge units to initial sales charge units. If you do
this, we will pay your representative’s firm the initial
sales charge trailing commission from the date that
we receive your change request.
Class E, ET5 and ET8 units and shares
The maximum rates of trailing commission for these
classes are set out below:
Annual trailing
commission rate
(%)
CI Money Market Fund, CI Short-Term
Advantage Corporate Class, CI Short-Term
Corporate Class and CI Short-Term US
Corporate Class
up to 0.25%
CI Investment Grade Bond Fund, CI U.S.
Income US$ Pool, Lawrence Park Strategic
Income Fund, Marret Short Duration High
Yield Fund, Signature Canadian Bond Fund,
Signature Canadian Bond Corporate Class,
Signature Corporate Bond Fund, Signature
Corporate Bond Corporate Class, Signature
Global Bond Fund, Signature Global Bond
Corporate Class, Signature Preferred Share
Pool, Signature Short-Term Bond Fund,
up to 0.50%
Marret High Yield Bond Fund, Signature
High Yield Bond Fund, Signature High
Yield Bond Corporate Class and Signature
High Yield Bond II Fund
up to 0.75%
All other funds
up to 1.00%
the rebate will be distributed; and in the case of Class
E, ET5 and ET8 shares, the rebate will result in a fee
repayment. Such distribution or fee repayment will
be made in the form of a reinvestment in additional
units or shares of the respective class of the funds.
There is no option for the reduction in fees to be paid
out in cash.
The trailing commissions are calculated monthly and
payable monthly or quarterly based on the total client
assets invested in Class E, ET5 and ET8 units and
shares of CI Funds held by all of a representative’s
clients throughout the month. We can change or
cancel trailing commissions at any time without prior
notice.
Class EF, EFT5 and EFT8 units and shares
Class EF, EFT5 and EFT8 units and shares are only
available to you if you participate in fee-based
programs through your representative, to whom you
pay directly for services.
We pay no dealer
compensation to your representative for selling Class
EF, EFT5 or EFT8 units or shares.
Co-operative marketing programs
We may reimburse your representative’s firm for
expenses incurred in selling the funds, including:
 advertising and other marketing expenses,
 educational and sales seminars attended by
representatives or their clients, and
 other marketing programs.
We can change or cancel co-operative marketing
programs at any time.
Disclosure of Equity Interests
A trailing commission rebate may be available based
on your agreement with your representative. We will
pay to your representative the amount negotiated
between you and your representative as provided to
us in writing by your representative. Note that a
trailing commission rebate will not be applied unless
we receive the relevant documentation from your
representative. Following the end of each quarter, in
the case where the trailing commission rebate is
negotiated, the rebate will be based on your total
assets invested in Class E, ET5 and ET8 units and
shares. In the case of Class E, ET5 and ET8 units,
Each of CI Investments Inc., Assante Capital
Management
Ltd.
and
Assante
Financial
Management Ltd. is a subsidiary of CI Financial
Corp.
CI Financial Corp. is an independent,
Canadian-owned wealth management firm, the
common shares of which are traded on the Toronto
Stock Exchange.
Dealer compensation from management fees
We paid representatives’ firms sales and service
commissions equal to approximately 40.7% of the
total management fees we received during the
financial year ended December 31, 2015.
48 – Part A
Canadian Federal Income Tax Considerations
for Investors
This section is a summary of how Canadian federal
income taxes can affect your investment in a fund. It
assumes that you:
 are an individual, other than a trust,
 are a Canadian resident,
 deal with the fund at arm’s length, and
 hold your units or shares as capital property.
Everyone’s tax situation is different. You should
consult your tax advisor about your situation.
Corporate Classes
As a mutual fund corporation, CI Corporate Class
Limited can have three types of income: Canadian
dividends, taxable capital gains and other net taxable
income. Canadian dividends are subject to a 38 1/3%
tax, which is fully refundable at the rate of
approximately $1.15 for every $3.00 of ordinary
taxable dividends paid by the corporation to its
shareholders. Taxable capital gains are subject to tax
at full corporate income tax rates. This tax is
refundable either by paying capital gains dividends to
shareholders or through the capital gains redemption
formula. Other income is subject to tax at full
corporate income tax rates and is not refundable.
Mutual fund corporations do not qualify for reduced
corporate tax rates that are available to other
corporations for certain types of income.
CI Corporate Class Limited must include the
revenues, deductible expenses, and capital gains and
losses of all of its investment portfolios when it
calculates its taxable income.
We will, on a
discretionary basis, allocate the income or loss of CI
Corporate Class Limited, and the applicable taxes
payable and recoverable to each of its respective
share classes. CI Corporate Class Limited may pay
ordinary taxable dividends or capital gains dividends
to shareholders of any class in order to receive a
refund of taxes on Canadian dividends and capital
gains taxes under the refund mechanisms described
above.
Trust Funds
In general, a trust fund pays no income tax as long as
it distributes its net income and net capital gains to its
unitholders. The trust funds generally intend to
distribute enough of their net income and net realized
capital gains each year so they will not have to pay
income tax.
How your investment can generate income
Your investment in a fund can generate income for
tax purposes in two ways:
 Dividends and Distributions.
When CI
Corporate Class Limited earns Canadian dividend
income and/or capital gains from its investments
or realizes a capital gain by selling securities, it
may pass these amounts on to you as dividends.
When any trust fund earns net income from its
investments or realizes a net capital gain by
selling securities, it may pass these amounts on to
you as a distribution.
 Capital gains (or losses). You can realize a
capital gain (or loss) when you sell or switch your
units or shares of the fund for more (or less) than
you paid for them. In general, you will not realize
a capital gain (or loss) when you change or switch
your units or shares of one class to units or shares
of another class of the same fund. When you
convert shares of one Corporate Class to shares of
another Corporate Class you will not realize a
capital gain (or loss) until the implementation of
the 2016 Federal Budget Proposal.
Corporate Class to another Corporate Class on a taxdeferred basis, on or after October 1, 2016 or a later
For more information see “Calculating your capital
gain or loss” starting on page 52.
49 – Part A
Funds held in a registered plan
Shares of the Corporate Classes are qualified
investments for registered plans. Units of a trust fund
are qualified investments for registered plans,
provided the fund is either a “mutual fund trust” or is
a “registered investment” within the meaning of those
terms in the Income Tax Act.
Each of the trust funds (other than Cambridge Stock
Selection Fund, CI U.S. Income US$ Pool, CI
Investment Grade Bond Fund, Marret High Yield
Bond Fund, Marret Short Duration High Yield Fund,
Marret Strategic Yield Fund, Signature Preferred
Share Pool, Signature Real Estate Pool, and Select
Staging Fund) (collectively, the “Unit Trusts”)
currently qualifies as a mutual fund trust and is
expected to continue to qualify as a mutual fund trust
at all material times. Each of the Unit Trusts currently
qualifies as a registered investment. This summary
assumes that the Unit Trusts will continue to qualify
as registered investments at all material times.
For these purposes, a registered plan means a trust
governed by such plans as:
 Locked-in Retirement Accounts (LIRAs);
 Registered Retirement Savings Plans (RRSPs);
 Locked-in Registered Retirement Savings Plans
(LRSPs);
 Registered Retirement Income Funds (RRIFs);
 Locked-in Retirement Income Funds (LRIFs);
 Life Income Funds (LIFs);
 Deferred Profit Sharing Plans (DPSPs);
 Registered Education Savings Plans (RESPs);
 Prescribed Retirement Income Funds (PRIFs);
 Tax-Free Savings Accounts (TFSAs);
 Registered Disability Savings Plans (RDSPs); or
 Québec Education Savings Incentive (QESI).
Note that not all registered plans are available in all
provinces or territories or through all our programs.
The funds may be eligible for other registered plans
offered through your representative.
Please note that the registered plans we offer are
available only in Canadian dollars. U.S. Dollar Funds
may not be held within our registered plans.
be held in certain types of registered plans.
If you hold units or shares of a fund in a registered
plan, you generally pay no tax on distributions or
dividends paid from the fund on those units or shares
or on any capital gains that your registered plan
realizes from selling or transferring units or shares.
However, withdrawals from registered plans (other
than TFSAs and certain withdrawals from RESPs or
RDSPs) are generally taxable at your personal tax
rate. Holders of TFSAs and annuitants of RRSPs and
RRIFs should consult with their tax advisors as to
whether units or shares of the funds would be a
“prohibited investment” under the Income Tax Act in
their particular circumstances.
Cambridge U.S. Dividend Registered Fund –
Foreign withholding tax
Typically, foreign source income is subject to foreign
withholding tax.
Cambridge U.S. Dividend
Registered Fund expects to be exempt from U.S.
withholding tax on U.S. source dividend and interest
income.
Funds held in a non-registered account
If you hold units or shares of a fund in a nonregistered account, you must include the following in
calculating your income each year:
 Any dividends paid to you by CI Corporate Class
Limited, whether you receive them in cash or you
reinvest them in shares of a Corporate Class.
These dividends (which must be computed in
Canadian dollars) may include ordinary taxable
dividends or capital gains dividends. Ordinary
taxable dividends are subject to the gross-up and
dividend tax credit rules that apply to taxable
dividends received from taxable Canadian
corporations and include “eligible dividends”
which are subject to an enhanced gross-up and
dividend tax credit. Capital gains dividends are
treated as capital gains realized by you. In
general, you must include one-half of the amount
of a capital gain in your income for tax purposes.
 Any net income and the taxable portion of any net
capital gains (computed in Canadian dollars)
distributed to you by any trust fund, whether you
receive the distributions in cash or they are
reinvested in units of the fund.
 The taxable portion of any capital gains you
realize from selling your units or shares (including
to pay fees described in this document) or
transferring your units or shares (other than a
transfer between Corporate Classes prior to the
implementation of the 2016 Federal Budget
Proposal, or a change or conversion between
50 – Part A
classes of the same fund) when the value of the
units or shares is greater than their adjusted cost
base plus reasonable costs of disposition
(including any redemption fees). If the value of
units or shares sold is less than their adjusted cost
base plus reasonable costs of disposition
(including any redemption fees), you will have a
capital loss. Generally, you may use capital losses
you realize to offset capital gains.
 Generally, the amount of any management fee
rebates paid to you and the amount of any
management fee distributions paid to you are paid
out of a trust fund’s income. However, an
election may be available in certain circumstances
that allows you to reduce the adjusted cost base of
the respective securities by the amount of the
management fee rebate that would otherwise be
included in income.
Corporate Class to another Corporate Class on a taxdeferred basis, on or after October 1, 2016 or a later
For more information see “Calculating your capital
gain or loss” starting on page 52.
We will issue a tax slip to you each year for CI
Corporate Class Limited that shows the taxable
amount of your dividends and any federal dividend
tax credit that applies, as well as any capital gains
dividends paid by CI Corporate Class Limited. We
will also issue a tax slip to you each year for all trust
funds that shows you how much of each type of
income each fund distributed to you and any return of
capital. You can claim any tax credits that apply to
that income. For example, if distributions by a trust
fund include Canadian dividend income or foreign
income, you will qualify for tax credits to the extent
permitted by the Income Tax Act.
Dividends and capital gains distributed by a trust
fund, dividends paid by CI Corporate Class Limited
and capital gains realized on the disposition of units
or shares may give rise to alternative minimum tax.
You should consult your tax advisor about the tax
treatment in your particular circumstances of any
investment advisory fees you pay to your
representative when investing in the funds and any
management fee rebates paid to you.
Distributions and dividends
income for tax purposes than the amount
distributed, the difference is a return of capital.
As well, all Monthly Amount distributions on TClass Securities generally will be a return of
capital. A return of capital is not taxable, but will
reduce the adjusted cost base of your units or shares.
If the adjusted cost base of your units or shares
becomes a negative amount at any time in a taxation
year, you will be deemed to realize a capital gain
equal to that amount and the adjusted cost base of
your units or shares will be reset to zero. The tax slip
we will issue to you each year will show you how
much capital was returned to you in respect of your
units.
Distributions and dividends may result from foreign
exchange gains because the funds are required to
report income and net realized capital gains in
Canadian dollars for tax purposes.
The history of dividends paid from a Corporate Class
is no indication of future dividend payments. Several
factors determine the dividends to be paid from a
Corporate Class. These include, but are not limited
to, net conversions, realized and unrealized gains, and
distributions from the underlying investments. CI
Corporate Class Limited can choose to pay dividends
on shares of any class to ensure that dividends are
allocated fairly among the Corporate Classes.
The unit or share price of a fund may include income
and capital gains that the fund has earned, but not yet
realized (in the case of capital gains) and/or paid out
as a distribution or dividend. If you buy units or
shares of a fund just before it makes a distribution or
pays a dividend, you will be taxed on that distribution
or dividend. You may have to pay tax on income or
capital gains the fund earned before you owned it.
For example, if a fund distributes its net income and
net capital gains once a year in December and you
buy units or shares late in the year, you may have to
pay tax on the net income and net capital gains it
earned for the whole year. Some funds make
quarterly or monthly distributions. See the individual
fund descriptions in Part B of this simplified
prospectus for the distribution policy of each fund.
The higher a fund’s portfolio turnover rate in a year,
the greater the chance that you will receive a
distribution or dividend from the fund. There is no
necessary relationship between a fund’s turnover rate
and its performance, however, the larger trading costs
associated with a high portfolio turnover rate would
reduce a fund’s performance.
Distributions from a fund (whether in the form of
cash or in the form of reinvested units) may include a
return of capital. When a trust fund earns less
51 – Part A
Calculating your capital gain or loss
Your capital gain or loss for tax purposes is the
difference between the amount you receive as
proceeds of redemption when you sell or transfer
your units or shares (after deducting any redemption
fees or other charges) and the adjusted cost base of
those units or shares.
Changing one class of units or shares to another class
of units or shares of the same fund or transferring
between Corporate Classes will not result in a
disposition for tax purposes, so no capital gain or loss
will arise, except to the extent that units or shares are
redeemed to pay a reclassification fee. If those
redeemed units or shares are held outside a registered
plan, you may realize a taxable capital gain.
will eliminate the ability of shareholders of a “mutual
fund corporation” under the Income Tax Act to
switch among different share classes on a taxdeferred basis on or after October 1, 2016 or a later
As a result, the switch by a shareholder of mutual
fund shares of one Corporate Class to mutual fund
shares of another Corporate Class will result in a
disposition for tax purposes and a capital gain or a
capital loss would be realized. The proposed measure
would not apply to reclassifications of mutual fund
shares where the mutual fund shares received in
exchange differ only in respect of management fees
or expenses to be borne by shareholders and
otherwise derive their value from the same fund
within the “mutual fund corporation”. This exception
is expected to permit shareholders to continue to
switch between different series of the same class of
the CI Corporate Class Limited on a tax-deferred
basis. We are reviewing this budget proposal and
considering what steps, if any, we will take in
response, whether the proposal is implemented in the
manner presented or in some other manner. Detailed
legislative measures that would enact this proposal
have not yet been released.
In general, the adjusted cost base of each of your
units or shares of a particular class of a fund at any
time equals:
 your initial investment for all your units or shares
of that class of the fund (including any sales
charges paid), plus
 your additional investments for all your units or
shares of that class of the fund (including any
sales charges paid), plus
 reinvested distributions, dividends or management
fee distributions or rebates in additional units or
shares of that class of the fund, minus
 any return of capital distributions by the fund in
respect of units or shares of that class of the fund,
minus
 the adjusted cost base of any units or shares of
that class of the fund previously redeemed,
all divided by
 the number of units or shares of that class of the
fund that you hold at that time.
When units or shares are redeemed to pay
management fees and/or investment advisory fees,
such redemption is considered a disposition for tax
purposes. If those redeemed units or shares are held
outside a registered plan, you may realize a taxable
capital gain.
You should keep detailed records of the purchase cost
of your investments and distributions and dividends
you receive on those units or shares so you can
calculate their adjusted cost base. All amounts
(including adjusted cost base, distributions, dividends
and proceeds of disposition) must be computed in
Canadian dollars. Accordingly, you may realize a
foreign exchange gain or loss if you invested in units
or shares in U.S. dollars. Other factors may affect the
calculation of the adjusted cost base and you may
want to consult a tax advisor.
In certain situations where you dispose of units or
shares of a fund and would otherwise realize a capital
loss, the loss will be denied. This may occur if you,
your spouse or another person affiliated with you
(including a corporation controlled by you) has
acquired units or shares of the same fund (which are
considered to be “substituted property”) within 30
days before or after you dispose of your units or
shares. In these circumstances, your capital loss may
be deemed to be a “superficial loss” and denied. The
amount of the denied capital loss will be added to the
adjusted cost base to the owner of the units or shares
which are substituted property.
Tax Information Reporting
Pursuant to the Foreign Account Tax Compliance Act
of 2009 (FATCA), the passing of the Hiring
Incentives to Restore Employment Act in 2010, the
Canada-US Intergovernmental Agreement (the
“IGA”) and its implementing provisions under the
Income Tax Act (Canada), for U.S. source payments,
and starting in 2017 for certain gross proceeds,
securityholders of the funds may be required to
52 – Part A
provide identity and residency information to the
manager and securityholders (and their controlling
entities) of the funds may be required to provide
other financial information to the manager, all of
which may be provided by the manager to the Canada
Revenue Agency, which will in turn provide such
information to the U.S. tax authorities, in order to
avoid U.S. withholding tax being imposed on U.S.
source payments and proceeds of disposition received
by the funds or on certain amounts (including
distributions) paid by the funds to certain
securityholders. If the funds fail to comply with the
international reporting requirements under both the
IGA and its implementing provisions under the
Income Tax Act, they will be subject to the penalty
provisions of the Income Tax Act. Any potential
taxes or penalties associated with such reporting
requirements may reduce the funds’ returns to
securityholders.
Common Reporting Standard
Recent draft Canadian legislative proposals will
implement the Common Reporting Standard (“CRS”)
in Canada effective July 1, 2017, with a first
exchange of information in 2018. As of July 1, 2017,
Canadian financial institutions such as the funds must
have procedures to identify financial accounts held
by residents of any participating CRS country other
than Canada and to report the required information to
the Canada Revenue Agency. The Canada Revenue
Agency will formalize exchange arrangements with
other participating jurisdictions leading to the
exchange of information on a multilateral basis. The
due diligence and reporting requirements under
FATCA will continue to operate alongside the CRS
regime.
53 – Part A
What are Your Legal Rights?
Securities legislation in some provinces gives you the right to withdraw from an agreement to buy mutual funds
within two business days of receiving the simplified prospectus or fund facts, or to cancel your purchase within 48
hours of receiving confirmation of your order.
Securities legislation in some provinces and territories also allows you to cancel an agreement to buy mutual fund
units or shares and get your money back, or to make a claim for damages, if the simplified prospectus, annual
information form, fund facts or financial statements misrepresent any facts about the fund. These rights must
usually be exercised within certain time limits.
For more information, refer to the securities legislation of your province or territory or consult your lawyer.
54 – Part A
Specific Information About Each of the Mutual
Funds Described in this Document
CI features a broad range of mutual funds that span
the world and cross all asset classes. Both Canadian
and international markets are represented in the fund
portfolios, which include a range of foreign equities,
fixed income securities and money market
instruments.
In Part B of the simplified prospectus, you will find
detailed descriptions of each of the funds. All of the
descriptions are organized in the same way, under
these headings:
Fund details
This section gives you a snapshot of the fund with
information such as the fund’s creation date, the
classes of units or shares it offers and its eligibility
for registered plans.
What does the fund invest in?
This section includes the fund’s fundamental
investment objective and the strategies it uses in
trying to achieve its objective. Any change to the
investment objective must be approved by a majority
of votes cast at a meeting of securityholders held for
that reason. We may change a fund’s investment
strategies at our discretion without notice or approval.
Investing in or obtaining exposure to underlying
funds
All of the funds (other than certain Underlying
Funds) may invest in underlying funds, including
exchange-traded funds, either directly or by gaining
exposure to an underlying fund through a derivative.
Each Portfolio and each PSS Managed Portfolio
invests only in underlying funds, though the
proportions held varies based on the risk and
potential returns of the fund.
In selecting underlying funds, we assess a variety of
criteria, including:
 management style
 investment performance and consistency
 risk tolerance levels
 caliber of reporting procedures
 quality of the manager and/or portfolio advisor.
We review and monitor the performance of the
underlying funds in which we invest or to which
assets of a fund obtain exposure. The review process
consists of an assessment of the underlying funds.
Factors such as adherence to the stated investment
mandate, returns, risk-adjusted return measures,
assets, investment management process, style,
consistency and continued portfolio fit may be
considered. This process may result in suggested
revisions to weightings of the underlying funds, the
inclusion of new underlying funds or the removal of
one or more underlying funds.
How the funds use derivatives
A derivative is an investment that derives its value
from another investment - called the underlying
investment. This could be a stock, bond, currency or
market index. Derivatives usually take the form of a
contract with another party to buy or sell an asset at a
later time. Some examples of derivatives are options,
futures and forward contracts.
All of the funds may use derivatives as permitted by
securities regulations. They may use them to:
 hedge their investments against losses from
factors like currency fluctuations, stock market
risks and interest rate changes
 invest indirectly in securities or financial markets,
provided the investment is consistent with the
fund’s investment objective.
When a fund uses derivatives for purposes other than
hedging, it holds enough cash or money market
instruments to fully cover its position in the
derivative, as required by securities regulations.
How the funds engage in securities lending
transactions
Certain funds may enter into securities lending
transactions, repurchase transactions and reverse
repurchase transactions.
A securities lending transaction is where a fund lends
portfolio securities that it owns to a third party
borrower. The borrower promises to return to the
fund at a later date an equal number of the same
securities and to pay a fee to the fund for borrowing
the securities. While the securities are borrowed, the
55 – Part A
borrower provides the fund with collateral consisting
of a combination of cash and securities. In this way,
the fund retains exposure to changes in the value of
the borrowed securities while earning additional fees.
A repurchase transaction is where a fund sells
portfolio securities that it owns to a third party for
cash and simultaneously agrees to buy back the
securities at a later date at a specified price using the
cash received by the fund from the third party. While
the fund retains its exposure to changes in the value
of the portfolio securities, it also earns fees for
participating in the repurchase transaction.
A reverse repurchase transaction is where a fund
purchases certain types of debt securities from a third
party and simultaneously agrees to sell the securities
back to the third party at a later date at a specified
price. The difference between the fund’s purchase
price for the debt instruments and the resale price
provides the fund with additional income.
As indicated above, securities lending, repurchase
and reverse repurchase transactions enable the funds
to earn additional income and thereby enhance their
performance.
A fund will not enter into a securities lending
transaction or a repurchase transaction if,
immediately thereafter, the aggregate market value of
all securities loaned by the fund and not yet returned
to it or sold by the fund in repurchase transactions
and not yet repurchased would exceed 50% of the net
asset value of the fund (exclusive of collateral held
by the fund for securities lending transactions and
cash held by the fund for repurchase transactions).
CI Global High Dividend Advantage Fund, CI Global
High Dividend Advantage Corporate Class and CI
Short-Term Advantage Corporate Class have
received permission from the Canadian securities
regulators to increase the limit described above to
100% for securities lending.
See “Investment
Restrictions and Practices – Securities Lending” in
the annual information form for additional
information.
How the funds engage in short selling
The funds may short sell as permitted by securities
regulations. A short sale by a fund involves
borrowing securities from a lender and selling those
securities in the open market (or selling short the
securities). At a later date, the same number of
securities are repurchased by that fund and returned
to the lender. In the interim, the proceeds from the
first sale are deposited with the lender and the fund
pays compensation to the lender on the borrowed
securities. If the value of the securities declines
between the time that the fund borrows the securities
and the time it repurchases and returns the securities
to the lender, the fund will make a profit for the
difference (less any compensation the fund is
required to pay to the lender). Selling short provides
the funds with more opportunities for profits when
markets are generally volatile or declining.
The funds will engage in short selling only within
certain controls and limitations. Securities will be
sold short only for cash and the fund will receive the
cash proceeds within normal trading settlement
periods for the market in which the short sale is
made. All short sales will be effected only through
market facilities through which those securities
normally are bought and sold. At the time securities
of a particular issuer are sold short by a fund, the
aggregate market value of all securities of that issuer
sold short will not exceed 5% of the total assets of the
fund and the aggregate market value of all securities
sold short by a fund will not exceed 20% of its total
assets. The fund may deposit assets with lenders in
accordance with industry practice in relation to its
obligations arising under short sale transactions. The
fund also will hold cash cover in an amount,
including the fund’s assets deposited with lenders,
that is at least 150% of the aggregate market value of
all securities it sold short on a daily marked-tomarket basis. No proceeds from short sales will be
used by a fund to purchase long positions other than
cash cover.
Investments in Silver and Silver and Gold
Exchange-Traded Funds
The funds may, as permitted by the Canadian
Securities Authorities: (a) purchase silver and
specified derivatives, the underlying interest of which
is silver, on an unlevered basis, in a similar manner as
currently permitted for gold; and (b) to purchase
securities of exchange-traded funds that seek to
replicate the performance of gold or silver, or the
value of a specified derivative the underlying interest
of which is gold or silver on an unlevered basis
(“Commodity ETFs”) subject to certain restrictions.
In each case, (a) the investment will be made by the
fund in accordance with its fundamental investment
objective; (b) the fund will not short sell securities of
Commodity ETFs; (c) the Commodity ETFs are
traded on a stock exchange in Canada or the United
States; and (d) the fund will not purchase securities of
a Commodity ETF if, immediately after such
purchase, more than 10% of the net assets of the fund
would consist of, in aggregate, gold, silver, permitted
gold certificates, permitted silver certificates,
specified derivatives of which the underlying interest
is gold or silver, and Commodity ETFs.
56 – Part A
economy where there is a substantial risk of loss
(e.g., emerging markets, precious metals).
Portfolio turnover rate
Each fund may, from time to time, engage in trading
which results in a portfolio turnover rate greater than
70%. The larger trading costs associated with a high
portfolio turnover rate would reduce the fund’s
performance.
What are the risks of investing in the fund?
This section shows the specific risks associated with
an investment in the fund, which are in addition to
the affecting all or most of the funds. These risks are
described in the section “What is a Mutual Fund and
what are the Risks of Investing in a Mutual Fund? Types of risk” starting on page 3.
Risk classification methodology
We determine the risk level for a fund using both
quantitative and qualitative considerations. We
review the fund type and standard deviation of a
fund. Fund types are broken down by broad asset
types, regional classifications, developed or emerging
markets, sector and market capitalization thresholds.
Standard deviation is a common statistic used to
measure the volatility and risk of an investment.
Funds with higher standard deviations are generally
classified as being more risky.
Each fund is assigned an investment risk rating in one
of the following categories:
 Low – for funds with a level of risk that is
typically associated with investments in money
market funds and Canadian fixed income funds;
 Low to Medium – for funds with a level of risk
that is typically associated with investments in
balanced funds and global and/or corporate fixed
income funds;
 Medium – for funds with a level of risk that is
typically associated with investments in equity
portfolios that are diversified among a number of
large-capitalization Canadian and/or international
equity securities;
 Medium to High – for funds with a level of risk
that is typically associated with investments in
equity funds that may concentrate their
investments in specific regions or in specific
sectors of the economy; and
 High – for funds with a level of risk that is
typically associated with investment in equity
portfolios that may concentrate their investments
in specific regions or in specific sectors of the
We review the risk levels on an annual basis. The
manner in which we identify risks is available on
request, at no cost, by calling 1-800-792-9355 or by
emailing [email protected]. Historical performance
may not be indicative of future returns and a fund’s
historical volatility may not be an indication of its
future volatility.
Who should invest in this fund?
This section tells you the type of investment portfolio
or investor the fund may be suitable for. This is
meant as a general guide only. For advice about your
own circumstances, you should consult your
representative.
Distribution policy
If a fund pays a dividend or other distribution, it will
be paid in the same currency in which you hold your
fund units or shares. Except as described below,
dividends and distributions are automatically
reinvested, without charges, in additional units or
shares of the same fund unless you ask in writing
to have them invested in another mutual fund in
the CI Funds family. You can ask to receive your
dividends and distributions in cash for funds you
hold in non-registered accounts.
Cash
distributions are not subject to redemption fees.
We may change the distribution policy at our
discretion. For more information about dividends and
distributions, see “Canadian federal income tax
considerations for investors” on page 49.
In addition to the dividends and distributions that will
be paid to holders of T-Class Securities at the same
time that dividends and distributions are paid to
holders of other classes of units or shares of the fund,
holders of T-Class Securities will receive regular
monthly cash distributions of their Monthly Amount.
We determine the Monthly Amount by multiplying
the net asset value per share or unit of the class at the
end of the previous calendar year (or, if no shares or
units of the class were outstanding at the end of the
previous calendar year, the date on which the shares
or units are first available for purchase in the current
calendar year) by 5% for Class AT5, ET5, EFT5,
FT5, IT5, OT5 and WT5 units and shares, by 6% for
Class AT6 units / shares and UT6 units and/or shares
or by 8% for Class AT8, ET8, EFT8, FT8, IT8, OT8
and WT8 units and shares and dividing the result by
12. Each regular monthly cash distribution generally
will constitute a tax-free return of capital. See
“Canadian federal income tax considerations for
57 – Part A
investors” on page 49 for additional information. All
regular monthly cash distributions on T-Class
Securities will be paid in cash and investors do not
have the option of requesting that such distributions
be reinvested automatically in additional units or
shares of the funds except under the Flexible T-Class
service.
These regular monthly distributions
generally will be paid on or about the last business
day of each month, but are not guaranteed to occur on
a specific date and the funds are not responsible for
any fees or charges incurred by investors because the
funds did not effect a distribution on a particular day.
Fund expenses indirectly borne by investors
This section is an example of the expenses the fund
pays on its classes of units or shares. The example is
intended to help you compare the cost of investing in
the fund with the cost of investing in other mutual
funds. While you do not pay these costs directly, they
have the effect of reducing the fund’s returns. It
assumes that the management expense ratio, or MER,
of the fund was the same throughout each period
shown as it was during the last completed financial
year and that you earned a total annual return of 5%
over the indicated time period. Investors in certain
classes of units or shares are charged fees directly by
their representative or us that are not included in this
section. For more information about fees and
expenses, see “Fees and Expenses” starting on page
31.
Expense information is not available for some classes
because they do not have an MER as described above
if no units or shares of that class were outstanding on
March 31, 2016.
Some terms used in this simplified prospectus
We have written this document in plain language, but
this simplified prospectus includes financial terms
that may be new to you. This section explains a
number of these terms.
Bonds - fixed income securities issued by
governments and corporations to finance their
operations or pay for major projects. When you buy a
bond you are in effect lending money to the issuer. In
return you receive interest payments and the face
amount of the bond on a future date called the
maturity date.
Commercial paper - short-term fixed income
securities that generally mature in less than one year.
They are generally issued by banks, corporations and
other borrowers and are usually not backed by any
assets.
Common share - an equity security representing part
ownership in a company. Common shares usually
come with rights such as the right to vote at
shareholder meetings.
Convertible securities - bonds, debentures or
preferred shares that the owner may exchange for
shares of the company.
Debentures - fixed income securities issued by a
government or corporation usually backed only by
the general credit of the issuer.
Derivative - an investment that derives its value from
another investment, which is called the underlying
investment. This could be a stock, bond, currency or
market index. Derivatives usually take the form of a
contract with another party to buy or sell an asset at a
later time. Some examples of derivatives are options,
futures and forward contracts.
Exchange-traded funds – exchange-traded funds are
investment funds whose securities are listed for
trading on an exchange.
Equity securities - securities representing part
ownership of a company. A typical example is
common shares.
Equity-related securities - securities that behave
like equity securities. They include warrants and
convertible securities.
PIM Household Group – all accounts belonging to
an investor, his/her spouse and family members
residing at the same address. It also includes
corporate accounts for which the investor and other
members of the PIM Household Group beneficially
own more than 50% of the corporation’s voting
equity.
Fixed income securities - securities that generate
interest or dividend income, such as bonds,
debentures, commercial paper, treasury bills and
other money market instruments and preferred shares.
Forward contract - an agreement for the future
delivery or sale of a foreign currency, commodity or
other asset, with the price set at the time the
agreement is made.
Maturity - the date on which a fixed income security
repays the face amount of the investment. Also
known as the date the security comes due.
Money market instruments - short-term fixed
income securities that mature in less than a year.
They include government treasury bills, commercial
paper and bankers’ acceptances.
58 – Part A
Options - the right, but not the obligation, to buy or
sell specific securities or properties at a specified
price within a specified time.
Preferred share - a security that usually entitles the
owner to a fixed dividend ahead of a company’s
common shares and to a maximum stated dollar value
per share if the company is dissolved.
59 – Part A
CI Investments Inc.
2 Queen Street East
Twentieth Floor
Toronto, Ontario
M5C 3G7
You can find additional information about each fund in its annual information form, fund facts, management reports
of fund performance and financial statements. These documents are incorporated by reference into this simplified
prospectus. That means they legally form part of this document just as if they were printed in it.
You can get a copy of these documents at your request, and at no cost, by calling 1-800-792-9355, by e-mailing
[email protected], or by asking your representative.
These documents and other information about the funds, such as information circulars and material contracts, are
also available on our website at www.ci.com or at www.sedar.com.
A complete simplified prospectus for the mutual funds listed on this cover consists of this document and any
additional disclosure document that provides specific information about the mutual funds in which you are
investing. This document provides general information applicable to all of the CI Funds. When you request a
simplified prospectus, you must be provided with the additional disclosure document.
BLACK CREEK FUNDS
CAMBRIDGE FUNDS
CI FUNDS
CORPORATE CLASS
HARBOUR FUNDS
MARRET FUNDS
PORTFOLIO SERIES FUNDS
SIGNATURE FUNDS
SYNERGY FUNDS
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim
otherwise.
CI Funds
PART B – Fund Specific Information
Simplified Prospectus dated July 27, 2016
Equity Funds
Black Creek Global Leaders Fund (Class A, AT6, E, EF, F, I and O units) ................................................................. 1
Black Creek International Equity Fund (Class A, AT6, E, EF, F, I and O units) .......................................................... 4
Cambridge American Equity Fund (Class A, E, EF, F, I and O units) .......................................................................... 7
Cambridge Canadian Dividend Fund (Class A, E, EF, F, I and O units) ...................................................................... 9
Cambridge Canadian Growth Companies Fund (Class A, AT6, E, EF, F and O units) .............................................. 12
Cambridge Global Dividend Fund (Class A, E, EF, F, I and O units) ........................................................................ 15
Cambridge Pure Canadian Equity Fund (Class A, E, EF, F, I and O units) ................................................................ 18
Cambridge Stock Selection Fund (formerly Cambridge Analyst Fund) Class I units)................................................ 21
Cambridge U.S. Dividend Fund (Class A, AT6, E, EF, F, I and O units) ................................................................... 24
Cambridge U.S. Dividend Registered Fund (Class A, E, EF, F, I and O units) .......................................................... 27
Cambridge U.S. Dividend US$ Fund (Class A, E, EF, F, I and O units) .................................................................... 30
CI American Small Companies Fund (Class A, E, EF, F, I and O units) .................................................................... 33
CI American Value Fund (Class A, E, EF, F, I, O and Insight units).......................................................................... 35
CI Canadian Dividend Fund (Class A, AT6, E, EF, F, I and O units) ......................................................................... 38
CI Canadian Investment Fund (Class A, E, EF, F, I, O and Insight units) .................................................................. 41
CI Canadian Small/Mid Cap Fund (Class A, E, EF, F, I and O units) ........................................................................ 44
CI Global Fund (Class A, E, EF, F, I, O and Insight units) ......................................................................................... 47
CI Global High Dividend Advantage Fund (Class A, E, F, I and O units).................................................................. 50
CI Global Small Companies Fund (Class A, E, EF, F, I, O and Insight units)............................................................ 53
CI Global Value Fund (Class A, E, EF, F, I and O units)............................................................................................ 56
CI International Value Fund (Class A, E, EF, F, I, O and Insight units) ..................................................................... 58
CI Pacific Fund (Class A, E, EF, F, I and O units) ...................................................................................................... 61
Harbour Fund (Class A, E, EF, F, I and O units) ......................................................................................................... 63
Signature Emerging Markets Fund (Class A, E, EF, F, I and O units) ........................................................................ 65
Signature Global Dividend Fund (Class A, E, EF, F, I and O units) ........................................................................... 68
Signature Global Resource Fund (Class A, E, EF, F and O units) .............................................................................. 71
Signature International Fund (Class A, E, EF, F, I, O and Insight units) .................................................................... 73
Signature Real Estate Pool (Class A, E, EF, F, I and O units) .................................................................................... 76
Signature Select Canadian Fund (Class A, E, EF, F, I, O and Insight units) ............................................................... 78
Signature Select Global Fund (Class A, E, EF, F, I and O units) ................................................................................ 81
Synergy American Fund (Class A, E, EF, F, I and O units) ........................................................................................ 84
Balanced Funds
Black Creek Global Balanced Fund (Class A, AT6, E, EF, F, I and O units) ............................................................. 86
Harbour Growth & Income Fund (Class A, E, EF, F, I and O units) .......................................................................... 89
Signature Canadian Balanced Fund (Class A, AT6, E, EF, F, I and O units) ............................................................. 92
Signature Global Income & Growth Fund (Class A, E, EF, F, I and O units) ............................................................ 95
Signature Income & Growth Fund (Class A, AT6, E, EF, F, I and O units) .............................................................. 98
Synergy Tactical Asset Allocation Fund (Class A, E, EF, F, I and O units) ............................................................. 101
Cambridge Global High Income Fund (formerly Cambridge High Income Fund)
(Class A, E, EF, F, I and O units) .............................................................................................................................. 104
Cambridge Income Fund (Class A, E, F and O units) ............................................................................................... 107
CI Income Fund (Class A, E, EF, F, I and O units) ................................................................................................... 112
CI U.S. Income US$ Pool (Class A, E, EF, F, I and O units) .................................................................................... 115
CI Investment Grade Bond Fund (Class A, E, EF, F, I and O units) ......................................................................... 118
CI Money Market Fund (Class A, E, EF F, I, O and Insight units) ........................................................................... 121
CI US Money Market Fund (Class A and I units) ..................................................................................................... 123
Lawrence Park Strategic Income Fund (Class A, E, EF, F, I and O units) ................................................................ 125
Marret High Yield Bond Fund (Class A, E, EF, F, I and O units)............................................................................. 128
Marret Short Duration High Yield Fund (Class A, E, EF, F, I and O units) ............................................................. 130
Marret Strategic Yield Fund (Class A, E, EF, F, I and O units) ................................................................................ 132
Signature Canadian Bond Fund (Class A, E, EF, F, I, O and Insight units) .............................................................. 135
Signature Corporate Bond Fund (Class A, E, EF, F, I, O and Insight units) ............................................................. 138
Signature Diversified Yield Fund (Class A, E, F, I and O units) .............................................................................. 141
Signature Diversified Yield II Fund (Class A, E, EF, F, I and O units) .................................................................... 144
Signature Dividend Fund (Class A, E, EF, F, I and O units) ..................................................................................... 147
Signature Global Bond Fund (Class A, E, EF, F, I, O and Insight units) .................................................................. 150
Signature High Income Fund (Class A, E, EF, F, I and O units) ............................................................................... 153
Signature High Yield Bond Fund (Class A, E, F, I and O units) ............................................................................... 156
Signature High Yield Bond II Fund (Class A, E, EF, F, I and O units) .................................................................... 161
Signature Preferred Share Pool (Class A, E, EF, F, I and O units)............................................................................ 164
Signature Short-Term Bond Fund (Class A, E, EF, F, I and O units) ....................................................................... 167
Signature Tactical Bond Pool (Class A, E, EF, F, I and O units) .............................................................................. 169
Portfolio Series
Portfolio Series Balanced Fund (Class A, AT5, AT8, E, ET5, ET8, EF, EFT5, EFT8, F, FT5,
FT8, I, O, OT5 and OT8 units) .................................................................................................................................. 172
Portfolio Series Balanced Growth Fund (Class A, AT5, AT6, AT8, E, ET5, ET8, EF, EFT5,
EFT8, F, FT8, I, O, OT5 and OT8 units) ................................................................................................................... 175
Portfolio Series Conservative Fund (Class A, AT6, E, EF, F, I and O units)............................................................ 178
Portfolio Series Conservative Balanced Fund (Class A, AT6, E, EF, F, I and O units) ............................................ 181
Portfolio Series Growth Fund (Class A, AT5, AT6, AT8, E, ET5, ET8, EF, EFT5, EFT8,
F, FT8, I, O, OT5 and OT8 units) .............................................................................................................................. 184
Portfolio Series Income Fund (Class A, E, EF, F, I and O units) .............................................................................. 187
Portfolio Series Maximum Growth Fund (Class A, AT5, AT8, E, ET5, ET8, EF, EFT5, EFT8,
F, FT8, I, O, OT5 and OT8 units) .............................................................................................................................. 190
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
Registered plan eligibility
Portfolio sub-advisor
Global Equity
February 1, 2005
July 7, 2008
July 29, 2015
July 29, 2015
June 12, 2006
June 7, 2006
July 29, 2015
Class A, AT6, E, EF, F, I and O units of a mutual fund
trust
Eligible (other than T-Class securities)
by a majority of the votes cast at a meeting of the
unitholders of the fund duly convened for that
purpose and held in accordance with the applicable
provisions of its Declaration of Trust.
Investment objective
The fundamental investment objective of Black
Creek Global Leaders Fund is to seek growth of
capital by investing primarily in stocks issued by
companies worldwide.
Investment strategies
The approach of the portfolio advisor is to invest in
globally competitive companies within growing
sectors. The portfolio advisor takes a long-term view
of the world and strives to understand the economics
and characteristics of different businesses and
industries. The portfolio advisor analyzes historical
financial performance, trends and technological
changes in the business, sensitivities to economic
factors, and other factors which may affect the future
economics of the business. The portfolio advisor
strives to select companies with industry leadership,
strong management, growing profits and potential for
capital appreciation.
Under normal market and economic conditions, the
fund will invest a majority of its total assets in
common stocks of high quality growth companies
worldwide. These companies will be those identified
by the fund as leaders in their respective industries as
indicated by an established market presence and
strong global, regional or country competitive
positions.
The fund will invest primarily in a diversified
portfolio of common stocks covering a broad range of
countries, industries and companies. Securities in
which the fund may invest are denominated in many
currencies and may trade in markets around the
world.
The fund may invest in a broad range of market
capitalizations but tends to focus on mid to large
capitalization companies. Although diversified by
country, industry and company, the fund’s portfolio
is focused and concentrated.
Under normal market and economic conditions, the
fund will diversify its investments in securities of
companies among a number of different countries
throughout the world, which may include Canada.
There are no limits on the amount of the fund’s assets
that may be invested in each country.
Subject to compliance with applicable registration
and proficiency requirements, the fund is permitted,
but not required, to use derivatives like options,
futures, forward contracts, swaps, index participation
units and other similar instruments for hedging and
non-hedging purposes and for the purpose of making
a profit provided the use of derivatives is consistent
with the fund’s objectives and is permitted by
Canadian securities laws. The fund may implement
The fundamental investment objective of the fund is
contained and/or incorporated by reference in its
Declaration of Trust. It may be changed by the
Manager only with the sanction of a resolution passed
This document provides specific information about the Black Creek Global Leaders Fund. It should be read in conjunction with the rest of the
simplified prospectus of the CI Funds dated July 27, 2016. This document and the document that provides general information about the CI
Funds together constitute the simplified prospectus.
1 - Part B
hedging strategies. See “Derivatives risk” for a
description of the nature of each type of derivative
which may be used. The fund may from time to time
use these instruments to, among other reasons, gain
exposure to the underlying securities, indexes or
currencies without investing in them directly, manage
risks and implement investment strategies more
efficiently. Derivatives can only be used if sufficient
cash or cash-equivalent securities are held by the
funds in order that a leveraged portfolio cannot be
created. Investing in and using derivative instruments
are subject to certain risks. See “Derivatives risk.”
securities of a particular issuer should be sold short,
the portfolio advisor uses the same analysis that is
described above for deciding whether to purchase the
securities. The fund will engage in short selling as a
complement to the fund’s current primary discipline
of buying securities with the expectation that they
will appreciate in market value. For a more detailed
description of short selling and the limits within
which the fund may engage in short selling, please
refer to “Specific information about each of the
mutual funds described in this document” on page 55
in Part A of the simplified prospectus.
The fund is permitted to invest some of its assets in
securities of other mutual funds, including other
mutual funds managed by the Manager or an affiliate
or associate of the Manager or securities of a foreign
mutual fund, provided such investment is consistent
with the fund’s objective and is permitted by
Canadian securities laws. See “Underlying fund
risk.”
Pursuant to exemptive relief from the Canadian
securities authorities, the portfolio advisor may,
subject to certain restrictions:

purchase silver and specified derivatives, the
underlying interest of which is silver on an
unlevered basis, in a similar manner as currently
permitted by securities regulations for gold; and
The fund may enter into repurchase, reverse
repurchase and securities lending agreements to the
extent permitted by the Canadian securities
regulators. See “Securities lending risk” for a
description of the nature of each type of agreement
use repurchase, reverse repurchase and securities
lending agreements to maximize returns and for
temporary defensive purposes in response to adverse
market, economic or political conditions. To the
extent the fund is in a defensive position, the fund
may lose the benefit of upswings and limit its ability
to meet its investment objective. Investing in and
using repurchase, reverse repurchase and securities
lending agreements are subject to certain risks. See
“Securities lending risk.” The fund will limit these
transactions to parties that have, in the opinion of the
Manager and its portfolio advisor, adequate resources
and financial strength.

purchase securities of ETFs that seek to replicate
the performance of gold or silver, or the value of
a specified derivative the underlying interest of
which is gold or silver on an unlevered basis.
From time to time the fund may invest some or all of
its assets in cash or high quality money market
securities for temporary defensive purposes in
response to adverse market, economic or political
conditions. To the extent the fund is in a defensive
position, the fund may lose the benefit of upswings
and limit its ability to meet its investment objective.
For a more detailed description of gold and silver
investments and the limits within which the fund may
engage in such investments, please refer to
“Investments in Silver and Silver and Gold
Exchange-Traded Funds” on page 56 in Part A of the
simplified prospectus.
This fund is affected by the following risks:

concentration risk

currency risk

equity risk

foreign investment risk

small capitalization risk.
As of June 30, 2016, one investor owned
approximately 32.94% of the net asset value of the
fund, which results in large redemption risk.
If the fund invests in emerging markets, fixed income
securities or uses derivatives, that portion of its assets
may also be affected by:
The fund may obtain exposure, on some or all of its
assets, to securities of other mutual funds (see “What
does the fund invest in?” on page 55 in Part A of the
simplified prospectus).
The fund may engage in short selling as permitted by
securities regulations.
In determining whether

credit risk

derivatives risk

emerging market risk
2 - Part B

interest rate risk

liquidity risk.
You do not pay the fund’s expenses directly, but they
will reduce the fund’s returns. This table shows the
expenses the fund would pay on a $1,000 investment
with a 5% annual return.
To the extent that the fund enters into securities
lending transactions, repurchase transactions or
reverse repurchase transactions, the fund also has
securities lending risk.
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
If the fund engages in short selling, the fund also has
short selling risk.
To the extent the fund invests in or has exposure to
gold or silver, the fund also has commodity risk.
You will find an explanation of each risk on page 3 in
Part A of the simplified prospectus as well as an
explanation of other general risks that apply to the
fund or the T-Class securities of the fund.
1
year
($)
25.41
25.41
23.88
12.71
13.94
0.00
1.74
3
years
($)
80.12
80.12
75.27
40.06
43.93
0.00
5.49
5
years
($)
140.42
140.42
131.93
70.21
77.01
0.00
9.63
10
years
($)
319.65
319.65
300.31
159.82
175.29
0.00
21.91
This fund may be suitable for you if:

you are seeking growth of capital associated with
quality growth companies worldwide

you are investing for the medium and/or long
term

you can tolerate medium risk.
Class AT6 units are suitable for investors who are
investing outside of a registered plan and are seeking
regular tax-efficient monthly cash distributions.
These classes of units cannot be purchased by
investors who are investing through a registered plan.
You will find an explanation of the risk classification
on page 57 of the Part A of the simplified prospectus.
Distribution policy
The fund expects to distribute any net income and net
capital gains each December. Distributions are
automatically reinvested without charge in
additional units of the fund, unless you ask to
receive your distributions in cash if the fund is
held in a non-registered account.
In addition, holders of Class AT6 units will receive
regular monthly cash distributions. See “Specific
information about each of the mutual funds described
in this document – Distribution policy” on page 57 in
Part A of the simplified prospectus.
3 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
International Equity
September 30, 2008
September 25, 2008
July 29, 2015
July 29, 2015
September 30, 2008
September 25, 2008
July 29, 2015
trust
potential for capital appreciation. In order to develop
a proprietary view of the company, the portfolio
advisor also considers overall macro-economic
conditions, historical financial performance of the
company, trends and technological changes in the
business, sensitivity to economic factors as well as
other factors which may affect the future economics
of the business.
Creek International Equity Fund is to seek long-term
capital growth by investing primarily in equity
securities of companies located outside of Canada
and the United States.
Canadian securities laws. See “Derivatives risk” for
a description of the nature of each type of derivative
fund in order that a leveraged portfolio cannot be
To fulfill this objective, the fund will primarily invest
in a portfolio of equity securities of companies
domiciled in countries outside of Canada and the
United States, including companies located in
emerging markets. It may invest in small, medium
and large companies, and may hold cash and cashequivalent securities.
Although diversified by
country, industry and company, the fund’s portfolio
may hold larger positions in a smaller number of
securities.
When selecting securities for the fund, the portfolio
advisor evaluates the merits of each company in
terms of its leadership position within its industry, the
strength of management, profit growth and the
This document provides specific information about the Black Creek International Equity Fund. It should be read in conjunction with the rest of
the simplified prospectus of the CI Funds dated July 27, 2016. This document and the document that provides general information about the CI
4 - Part B


mutual fund, provided such investments are permitted
by Canadian securities laws. The portfolio advisor
will select such investments based on the fund’s
investment objective. See “Underlying fund risk.”

concentration risk

currency risk

equity risk



credit risk

derivatives risk


interest rate risk

liquidity risk.
short selling risk.
5 - Part B

quality growth companies worldwide

term

Distribution policy
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.31
25.62
24.08
12.40
13.94
0.00
1.74
3
years
($)
79.79
80.76
75.92
39.09
43.93
0.00
5.49
5
years
($)
139.86
141.56
133.06
68.51
77.01
0.00
9.63
10
years
($)
318.36
322.22
302.89
155.96
175.29
0.00
21.91
6 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
American equity fund
May 25, 1989
July 29, 2015
July 29, 2015
August 8, 2000
September 26, 2001
July 29, 2015
Class A, E, EF, F, I and O units of a mutual fund trust
Eligible
CI Investments Inc.

analyzes the sustainability of the company’s
competitive position

This fund’s objective is to obtain above-average
long-term capital growth.
evaluates the company based on performance
criteria the portfolio advisor determines

compares the company’s share price to the share
prices of similar companies in the same industry
around the world
Any change to the investment objective must be
approved by a majority of votes cast at a meeting of
unitholders held for that reason.

analyzes financial data and other information
sources.

The portfolio advisor identifies companies that offer
good value and the potential for growth in their
industry and will also consider factors like market
penetration, earnings estimates and quality of
management.
invest in treasury bills, bonds, debentures and
notes, and in companies outside of the United
States

use warrants and derivatives such as options,
futures, forward contracts and swaps to:
It invests primarily in equity and equity-related
securities of companies in the United States.
The portfolio advisor may also choose to:
When deciding to buy or sell an investment, the
portfolio advisor considers whether the investment is
a good value relative to its current price and how it is
expected to perform.
The portfolio advisor may use techniques such as
fundamental analysis to assess growth and value
potential.
This means evaluating the financial
condition and management of a company, its industry
and the overall economy. As part of this evaluation,
the portfolio advisor:

analyzes economies and industries in the United
States and around the world

identifies companies that are leaders in their
industry

hedge against losses from changes in the
prices of the fund’s investments and from
exposure to foreign currencies

gain exposure to individual securities and
markets instead of buying the securities
directly;

enter into securities lending transactions,
repurchase transactions and reverse repurchase
transactions, to the extent permitted by the
securities regulations, to earn additional income
for the fund

temporarily hold cash or fixed income securities
for strategic reasons.
The fund will only use derivatives as permitted by
securities regulations (see “What does the fund invest
This document provides specific information about the Cambridge American Equity Fund. It should be read in conjunction with the rest of the
7 - Part B
in?” on page 55 in Part A of the simplified
prospectus).
fund.
term

Since the fund invests primarily in U.S. equity
securities, it is affected by the following risks:
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
The fund also has large redemption risk.
If the fund uses derivatives or invests in fixed income
securities, that portion of its assets may also be
affected by:


equity risk.
you want to invest in U.S. companies with
growth potential
Distribution policy


currency risk
interest rate risk.


short selling risk.

derivatives risk
The fund also may engage in short selling as
permitted by securities regulations. In determining
whether securities of a particular issuer should be
sold short, the portfolio advisor uses the same
analysis that is described above for deciding whether
to purchase the securities. The fund will engage in
short selling as a complement to the fund’s current
primary discipline of buying securities with the
expectation that they will appreciate in market value.
For a more detailed description of short selling and
the limits within which the fund may engage in short
selling, please refer to “Specific information about
each of the mutual funds described in this document”
on page 55 in Part A of the simplified prospectus.


credit risk
1
year
($)
25.00
23.88
12.71
13.32
0.00
1.74
3
years
($)
78.82
75.27
40.06
42.00
0.00
5.49
5
years
($)
138.16
131.93
70.21
73.61
0.00
9.63
10
years
($)
314.49
300.31
159.82
167.56
0.00
21.91
This document provides specific information about the Cambridge American Equity Fund. It should be read in conjunction with the rest of the
8 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Canadian Dividend
February 1, 2005
January 7, 2014
December 5, 2014
June 12, 2006
June 7, 2006
July 26, 2013
Eligible
CI Investments Inc.
The portfolio advisor’s approach uses both
quantitative and qualitative tools to build an incomeoriented portfolio. By using carefully selected factors,
the portfolio advisor screens the entire Canadian
market to isolate possible opportunities.
The fundamental investment objective of Cambridge
Canadian Dividend Fund is to provide primarily a
predictable stream of income and, secondarily,
modest long-term capital appreciation, by investing
in an actively managed portfolio of primarily
Canadian stocks.
The
portfolio
advisor’s
quantitative
tools
automatically identify those companies worthy of
personal attention. The portfolio advisor supplements
quantitative information with an in-depth knowledge
of the companies in each industry and its economic
requirements.
To fulfill its objective, the investment policy of the
fund is to invest a majority of the fund’s total assets
in a diversified portfolio of primarily Canadian stocks
and equivalent securities with high dividend yields
that have predictable levels of profitability and
earnings which facilitate dividend growth.
Reliable income on equities in the fund comes from
selecting a base of companies that exhibit predictable
and growing levels of profitability. More specifically,
the portfolio advisor looks for stocks with earnings
growth, because rising earnings mean a current
income stream that could be used to fund dividends
and often the capital appreciation of higher stock
prices.
The fund may invest a maximum of 30% of its assets
(book value) in foreign securities.
Typically, the portfolio advisor attempts to produce
superior dividend income and modest long-term
capital appreciation by investing in mature companies
with predictable and growing levels of profitability.
The portfolio advisor favours Canadian companies
that show financial strength, balanced by a desire for
the fund’s portfolio to show above-average growth
rates.
This document provides specific information about the Cambridge Canadian Dividend Fund. It should be read in conjunction with the rest of the
9 - Part B
risk.”



capital depreciation risk

concentration risk

equity risk

investment trust risk.

credit risk

derivatives risk

interest rate risk.
If the fund invests in fixed income securities or uses
derivatives, that portion of its assets may also be
affected by:
short selling risk.
10 - Part B
fund.

you are seeking income and the potential for
modest capital appreciation

term

Distribution policy
The fund expects to make a distribution each month.
Distributions are automatically reinvested without
charge in additional units of the fund, unless you
ask to receive your distributions in cash if the
fund is held in a non-registered account.
Distributions are not guaranteed and may change at
any time at our discretion. If the fund earns more
income or capital gains than the distribution, it will
distribute the excess each December. If the fund
earns less than the amount distributed, the
difference is a return of capital.
For more
information, see “Specific information about each of
the mutual funds described in this document –
Distribution policy” on page 57 in Part A of the
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
24.70
24.08
12.09
13.53
0.00
1.74
3
years
($)
77.85
75.92
38.12
42.64
0.00
5.49
5
years
($)
136.46
133.06
66.81
74.74
0.00
9.63
10
years
($)
310.62
302.89
152.09
170.13
0.00
21.91
11 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class O
Type of securities
Portfolio advisor
Canadian Equity
February 14, 2011
February 14, 2011
August 29, 2012
July 27, 2016
February 14, 2011
August 29, 2012
Class A, AT6, E, EF, F and O units of a mutual fund
trust
CI Investments Inc.
“Securities lending risk.” The fund will only do so if
there are suitable counterparties available and if the
transactions are considered appropriate. The fund
may also invest a portion of its assets in securities of
other funds, which may be managed by the Manager,
in accordance with its investment objective.
Canadian Growth Companies Fund is to provide
long-term capital growth by investing primarily in
common shares of Canadian companies.
are subject to certain risks. See “Derivatives risks.”
When buying and selling securities for the fund, the
portfolio advisor examines each company’s potential
for success in light of its current financial condition,
its industry position and economic and market
conditions. The portfolio advisor considers factors
like growth potential, earnings estimates and quality
of management.
The fund will focus on small and medium sized
companies. It may invest up to approximately 49% of
its assets in foreign securities and may hold cash and
fixed-income securities. The fund may invest in
equity securities of large companies and may also
enter into repurchase transactions, reverse repurchase
transactions, and securities lending transactions. See
The fund may depart from its investment objective by
temporarily investing most or all of its assets in cash
or fixed-income securities issued or guaranteed by a
Canadian or U.S. government, government agency or
company to try to protect it during a market downturn
or for other reasons. From time to time the fund may
This document provides specific information about the Cambridge Canadian Growth Companies Fund. It should be read in conjunction with the
rest of the simplified prospectus of the CI Funds dated July 27, 2016. This document and the document that provides general information about
the CI Funds together constitute the simplified prospectus.
12 - Part B
Investing in and using repurchase, reverse repurchase
and securities lending agreements are subject to
certain risks. See “Securities lending risk.” The fund
will limit these transactions to parties that have, in the
opinion of the Manager and its portfolio advisor,
adequate resources and financial strength.
invest some or all of its assets in cash or high quality
money market securities for temporary defensive
purposes in response to adverse market, economic or
political conditions. To the extent the fund is in a
defensive position, the fund may lose the benefit of
upswings and limit its ability to meet its investment
objective.
The portfolio advisor may actively trade the fund’s
investments. This can increase trading costs, which
lower the fund’s returns. It also increases the
possibility that you’ll receive taxable capital gains if
you hold the fund in a non-registered account.
The fund is permitted to invest up to 100% of its
assets in securities of other mutual funds, either
directly or by gaining exposure to other mutual funds
through derivatives, including other mutual funds
managed by the Manager or an affiliate or associate
of the Manager or securities of a foreign mutual fund,
provided such investment is consistent with the
fund’s objective and is permitted by Canadian
securities laws. See “Underlying fund risk.”
In
selecting other mutual funds, the portfolio advisor
will assess a variety of criteria, including:

management style

investment performance and consistency

risk tolerance levels

caliber of reporting procedures

quality of the manager and/or portfolio advisor.
underlying funds in which we invest. The review
process consists of an assessment of the underlying
funds.
Factors such as adherence to stated
investment mandate, returns, risk adjusted return
measures, assets, investment management process,
style, consistency and continued portfolio fit may be


The fund may enter into securities lending
repurchase transactions to the extent permitted by the
Canadian securities regulators. See “Securities
lending risk” for a description of the nature of each
type of agreement which may be used. The fund may
from time to time use repurchase, reverse repurchase
and securities lending agreements to maximize
returns and for temporary defensive purposes in
13 - Part B

currency risk

equity risk


investment trust risk

large redemption risk

Distribution policy
affected by:

credit risk

derivatives risk

interest rate risk

liquidity risk.
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class O
short selling risk.
1
year
($)
25.00
23.98
23.98
13.63
1.74
3
5
years
years
($)
($)
78.82 138.16
75.59 132.50
75.59 132.50
Not Available
42.97
75.31
5.49
9.63
10
years
($)
314.49
301.60
301.60
171.42
21.91

Canadian equity securities

term

14 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Global equity fund
July 26, 2013
July 26, 2013
July 29, 2015
July 26, 2013
July 26, 2013
July 26, 2013
Eligible
CI Investments Inc.
a good value relative to its current price.
The fund may hold cash, and may invest in fixedincome securities of any quality or term and other
income-producing securities. The portfolio advisor
selects the quality and term of each investment
according to market conditions.
This fund’s objective is to achieve a high level of
total investment return, consisting of dividend
income and capital gains.
It invests primarily, directly or indirectly, in equity
securities of companies anywhere in the world that
pay, or may be expected to pay, dividends.
The portfolio advisor may also choose to


hedge against losses from changes in interest
rates, credit quality and the prices of the
fund’s investments and from exposure to
foreign currencies

financial markets instead of buying the
securities directly.
The portfolio advisor identifies companies with a
consistent history of paying and/or growing dividends
or that are expected to pay dividends. The portfolio
advisor seeks companies that offer good value and
the potential for growth in their industry.
fundamental analysis to assess growth potential and
valuation. This means evaluating the financial
condition, competitiveness, and management of each
company, its industry and the overall economy. As
part of this evaluation, the portfolio advisor:

for the fund (see “What does the fund invest in?”
on page 55 in Part A of the simplified
prospectus).
temporarily hold cash, cash-equivalent and
securities for strategic reasons.

sources


assesses the quality of management

conducts company interviews, where possible.
prospectus).
This document provides specific information about the Cambridge Global Dividend Fund. It should be read in conjunction with the rest of the
15 - Part B
As of June 30, 2016, three investors owned
approximately 16.88%, 19.39%, and 30.42%,
respectively, of the net asset value of the fund, which
results in large redemption risk.
affected by:
equity risk

foreign investment risk.
you want a core global equity fund for your
portfolio with the potential for long term growth

term

Distribution policy


currency risk
interest rate risk.


fund.
derivatives risk


short selling risk.

credit risk
The portfolio advisor may engage in active and
frequent trading of investments. This increases the
possibility that an investor will receive taxable capital
gains if units are held in a non-registered account. It
can also increase trading costs, which reduce returns.


For more
16 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.21
23.67
12.50
13.73
0.00
1.64
3
years
($)
79.47
74.62
39.41
43.29
0.00
5.17
5
years
($)
139.29
130.80
69.08
75.87
0.00
9.06
10
years
($)
317.07
297.73
157.24
172.71
0.00
20.62
17 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Canadian Equity
February 14, 2011
July 26, 2013
July 29, 2015
February 14, 2011
January 5, 2012
July 26, 2013
Eligible
CI Investments Inc.
The portfolio advisor may actively trade the fund’s
investments. This can increase trading costs, which
lower the fund’s returns. It also increases the
possibility that you’ll receive taxable capital gains if
you hold the fund in a non-registered account.
Pure Canadian Equity Fund is to achieve long-term
capital growth by investing, directly or indirectly,
primarily in equity securities of Canadian companies.
Indirect investments may include convertible
securities, derivatives, equity-related securities and
securities of other mutual funds.
When buying and selling securities for the fund, the
portfolio advisor examines each company’s potential
for success in light of its current financial condition,
its industry positioning, and economic and market
conditions. The portfolio advisor considers factors
like growth potential, earning estimates, quality of
management and current market value of the
securities.
securities laws. See “Underlying fund risk.”
In
The fund may invest in common and preferred shares
of small, medium and large companies and in other
types of equity securities or equity-type securities. It
may invest up to approximately 10% of its assets in
foreign securities and may hold income trust units,
cash and fixed income securities.
This document provides specific information about the Cambridge Pure Canadian Equity Fund. It should be read in conjunction with the rest of
18 - Part B
securities regulations. In determining whether

management style



caliber of reporting procedures

funds.
certain risks. See “Securities lending risk.” The
fund will limit these transactions to parties that have,
in the opinion of the Manager and its portfolio
advisor, adequate resources and financial strength.



currency risk

equity risk




19 - Part B
affected by:

credit risk

derivatives risk

interest rate risk

liquidity risk.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
short selling risk.
1
year
($)
25.11
24.08
12.71
13.83
0.00
1.74
3
years
($)
79.15
75.92
40.06
43.61
0.00
5.49
5
years
($)
138.73
133.06
70.21
76.44
0.00
9.63
10
years
($)
315.78
302.89
159.82
174.00
0.00
21.91
fund.

Canadian equity securities

term

Distribution policy
20 - Part B
Cambridge Stock Selection Fund*
Fund details
Fund type
Date started
Class I
Type of securities
Portfolio advisor
Global equity fund
September 30, 2015
Class I units of a mutual fund trust
Eligible
CI Investments Inc.
* formerly Cambridge Analyst Fund
The Sector Analyst identifies companies that offer
industry and will also consider factors like market
penetration, earnings estimates and quality of
management. The Sector Analyst may use techniques
such as fundamental analysis to assess investment
opportunities. This means evaluating the financial
condition and management of each company, its
industry and the overall economy. As part of this
evaluation, the Sector Analyst:
This fund’s objective is to achieve long-term capital
growth by investing, directly or indirectly, primarily
in equity securities of companies located anywhere in
the world. Indirect investments may include
convertible securities, derivatives and equity-related
securities. The fund will strive to generate excess
returns primarily by means of stock selection within
global industry sectors.

sources


This fund invests, directly or indirectly, primarily in
equity securities of companies located anywhere in
the world. The fund may make investments in any
country, including emerging markets or emerging
industries of any market.

The fund will be structured with 10 independent
sector sleeves. These 10 sectors are those defined by
the MSCI Global Industry Classification Standards.
For the purpose of this fund, REITs and
Infrastructure will be included within the Utilities
sector sleeve. The Analyst(s) responsible for each
individual sector will provide stock recommendations
to the portfolio advisor who in turn will make all final
stock selection decisions. The sleeves will be
restricted to purchasing securities within their defined
sectors but are not bound by any geographic
limitations. Each sleeve will initially be allocated a
portfolio weight equal to its representative sector(s)
weight in the MSCI World Index plus or minus five
(5) percent at the discretion of the portfolio advisor.


foreign currencies

prospectus).
This document provides specific information about the Cambridge Stock Selection Fund*. It should be read in conjunction with the rest of the
21 - Part B

temporarily hold cash, cash-equivalent securities,
government bonds, or investment corporate
bonds for strategic reasons.
prospectus).
Since the fund invests in equity securities of
companies anywhere in the world, it is affected by
the following risks:


credit risk

derivatives risk


interest rate risk

liquidity risk.
short selling risk.
equity risk
gains if shares are held in a non-registered account. It


If the fund invests in emerging markets or emerging
industries, fixed income securities or uses derivatives,
that portion of its assets may also be affected by:
Up to 100% of the fund’s assets may be invested in
foreign investments, which may include investments
in non-Canadian dollar denominated securities, as
well as investments in emerging markets securities.
The fund’s foreign currency exposure will generally
reflect the portfolios country allocations and any
currency hedging strategies will remain at the
discretion of the portfolio advisor.
currency risk
The fund may also invest in exchange-traded funds.


fund.
22 - Part B

you want a core global equity fund for your
portfolio

term

Distribution policy
Fees and
expenses
payable over
Class I
1
year
($)
0.00
3
years
($)
0.00
5
years
($)
0.00
10
years
($)
0.00
23 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
U.S. Dividend
June 13, 2006
July 7, 2008
January 7, 2014
December 5, 2014
June 13, 2006
June 13, 2006
July 26, 2013
trust
CI Investments Inc.
predictable levels of profitability. The portfolio
advisor favours U.S. companies that show financial
strength, balanced by a desire for the fund’s portfolio
to show above-average growth rates.
U.S. Dividend Fund is to provide modest long-term
capital appreciation and dividend income by
investing in an actively managed portfolio of
primarily U.S. equities.
The portfolio advisor’s approach uses both
quantitative and qualitative tools to build an incomeoriented portfolio. The portfolio management process
focuses on mature companies with high dividend
yields and predictable levels of profitability, which
will facilitate dividend growth into the future.
Emphasis is also placed on earnings quality and
financial strength. Analysis is undertaken in the
context of the overall market and accordingly growth
characteristics are assessed on a relative basis.
fund is to invest a majority of the fund’s assets in a
diversified portfolio of U.S. equities and, to a lesser
extent, U.S. equity equivalents, focusing primarily on
larger capitalization companies with high dividend
yields and predictable levels of profitability.
Emphasis is also placed on earnings quality and
financial strength, all of which facilitate dividend
growth.
The
portfolio
advisor’s
quantitative
tools
automatically identify those companies worthy of
personal attention. The portfolio advisor supplements
quantitative information with an in-depth knowledge
of the companies in each industry and its economic
requirements.
Income on equities in the fund comes from selecting
a base of companies that exhibit predictable levels of
profitability. More specifically, the portfolio advisor
looks for companies with earnings growth, because
rising earnings mean a current income stream that
could be used to fund dividends and often the capital
appreciation of higher stock prices.
Typically, the portfolio advisor attempts to produce a
modest long term capital appreciation and dividend
income by investing in mature companies with
This document provides specific information about the Cambridge U.S. Dividend Fund. It should be read in conjunction with the rest of the
24 - Part B
non-hedging purposes, and for the purpose of making
cash or cash equivalent securities are held by the fund
in order that a leveraged portfolio cannot be created.
Investing in and using derivative instruments are
subject to certain risks. See “Derivatives risk.”
non-U.S. equities.
risk.”




currency risk

equity risk


interest rate risk


large redemption risk.
25 - Part B
If the fund uses derivatives, that portion of its assets
may also be affected by derivatives risk.
short selling risk.
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O

you are seeking capital preservation and modest
capital appreciation through investments in high
quality U.S. equities

term

1
year
($)
24.80
25.52
23.16
11.89
13.63
0.00
1.74
3
years
($)
78.18
80.44
73.01
37.47
42.97
0.00
5.49
5
years
($)
137.03
140.99
127.97
65.68
75.31
0.00
9.63
10
years
($)
311.91
320.93
291.29
149.51
171.42
0.00
21.91
Distribution policy
regular monthly cash distributions.
For more
26 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
U.S. Dividend Fund
December 29, 2014
December 29, 2014
July 29, 2015
December 29, 2014
December 29, 2014
December 29, 2014
Eligible for Eligible Accounts (See page 27 of Part A
of the simplified prospectus)
CI Investments Inc.
attractively valued.
The fund may invest up to 25% of its assets in nonU.S. securities, including American depositary
receipts.
The investment objective of Cambridge U.S.
Dividend Registered Fund is to provide modest longterm capital appreciation and dividend income.
The fund may also hold cash and may invest in fixedincome securities of any quality or term and other
securities of U.S. companies that pay, or may be
expected to pay, dividends.

The portfolio advisor invests a majority of the fund’s
assets in a diversified portfolio of U.S. equities,
focusing primarily on mid- and large capitalization
companies with sustainable and growing dividends
and predictable levels of profitability. Emphasis is
also placed on earnings quality and financial strength,
all of which facilitate dividend growth.

sources


conducts company interviews, where possible

exposure to foreign currencies,

securities directly;

prospectus); and

government bonds, or investment grade
corporate bonds for strategic reasons.
This document provides specific information about the Cambridge U.S. Dividend Registered Fund. It should be read in conjunction with the rest
of the simplified prospectus of the CI Funds dated July 27, 2016. This document and the document that provides general information about the
CI Funds together constitute the simplified prospectus.
27 - Part B
prospectus).

credit risk

derivatives risk

liquidity risk.
fund.
This fund may be suitable for you if you:

hold your investment in an Eligible Account

are seeking a core U.S. equity fund with the
potential for long term growth

are investing for the medium and/or long term

can tolerate medium risk.
The investors in this fund are restricted to Eligible
Accounts (see “Optional Services – Registered Plans
and Eligible Accounts” on page 27 in Part A of the
simplified prospectus). If you hold units of this fund
in an account that we determine not to be an Eligible
Account, we will switch those units into units of
Cambridge U.S. Dividend Fund. If, for any reason,
we cannot switch your units into units of Cambridge
U.S. Dividend Fund, we will redeem your units.
equity risk


short selling risk.
currency risk
interest rate risk
frequent trading of investments. This can increase
trading costs, which reduce returns.


affected by:



on page 57 of Part A of the simplified prospectus.
28 - Part B
Distribution policy
automatically reinvested without charge in additional
units of the fund.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.11
24.18
12.81
13.94
0.00
1.74
3
years
($)
79.15
76.24
40.38
43.93
0.00
5.49
5
years
($)
138.73
133.63
70.78
77.01
0.00
9.63
10
years
($)
315.78
304.18
161.11
175.29
0.00
21.91
29 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
U.S. Dividend Fund
March 27, 2015
March 27, 2015
March 27, 2015
March 27, 2015
March 27, 2015
March 27, 2015
Eligible
CI Investments Inc.
attractively valued.
The fund may invest up to 25% of its assets in
American depositary receipts.
The investment objective of Cambridge U.S.
Dividend US$ Fund is to provide modest long-term
capital appreciation, dividend income and direct
exposure to U.S. dollar-denominated securities.
The fund may also hold cash and may invest in fixedincome securities of any quality or term and other
securities of U.S. companies that pay, or may be
expected to pay, dividends.

The portfolio advisor invests a majority of the fund’s
assets in a diversified portfolio of U.S. equities,
focusing primarily on mid- and larger capitalization
companies with sustainable and growing dividends
and predictable levels of profitability. Emphasis is
also placed on earnings quality and financial strength,
all of which facilitate dividend growth.

sources



prices of the fund’s investments, and

securities directly;

prospectus); and

government bonds, or investment grade
corporate bonds that are denominated in U.S.
dollars for strategic reasons.
This document provides specific information about the Cambridge U.S. Dividend US$ Fund. It should be read in conjunction with the rest of the
30 - Part B
prospectus).
fund.
equity risk


interest rate risk

you are seeking a core U.S. equity fund with the
potential for long term growth

term

distribute the excess each December. If the fund earns
less than the amount distributed, the difference is a
return of capital. For more information, see “Specific

you hold your investment in a non-registered
account and want direct exposure to securities
that trade in U.S. dollars
Distribution policy
currency risk


short selling risk.


frequent trading of investments. This can increase
trading costs, which reduce returns.


31 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
(US$)
24.18
22.75
11.89
13.12
0.00
1.64
3
years
(US$)
76.24
71.72
37.47
41.35
0.00
5.17
5
years
(US$)
133.63
125.70
65.68
72.48
0.00
9.06
10
years
(US$)
304.18
286.13
149.51
164.98
0.00
20.62
32 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
April 29, 1991
July 29, 2015
July 29, 2015
August 8, 2000
December 17, 2001
July 29, 2015
Eligible
growth potential is not reflected in their current price
and companies that are expected to have improved
earnings.
This fund’s objective is to seek above-average capital
growth.

securities of small to mid-capitalization North
American companies.
the potential for strong growth in their industry and
then considers the impact of economic trends.
fundamental analysis to assess growth potential. This
means evaluating the financial condition and
management of a company, its industry and the
overall economy. As part of this evaluation, the
portfolio advisor:

sources




directly.

prospectus); or

prospectus).
a good value relative to its current price. The
portfolio advisor emphasizes companies whose
This document provides specific information about the CI American Small Companies Fund. It should be read in conjunction with the rest of the
33 - Part B

short selling risk.
fund.

interest rate risk.

you want to invest in small and midcapitalization North American companies with
high growth potential

term

you can tolerate medium to high risk.

Distribution policy
Since the fund invests primarily in equity securities
of small to mid-capitalization North American
companies, it is affected by the following risks:

currency risk

equity risk

liquidity risk

Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
affected by:

credit risk

derivatives risk
1
year
($)
25.00
23.88
12.81
13.32
0.00
1.74
3
years
($)
78.82
75.27
40.38
42.00
0.00
5.49
5
years
($)
138.16
131.93
70.78
73.61
0.00
9.63
10
years
($)
314.49
300.31
161.11
167.56
0.00
21.91
This document provides specific information about the CI American Small Companies Fund. It should be read in conjunction with the rest of the
34 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
February 1, 1977
July 27, 2011
July 29, 2015
November 17, 2000
October 31, 1996
July 27, 2011
August 29, 2003
Class A, E, EF, F, I, O and Insight units of a mutual fund
trust
Eligible
may invest in corporate debt and/or convertible
securities.

portfolio advisor:
growth by investing primarily in a broadly diversified
portfolio of American equity securities.

sources

To achieve its objective, the portfolio advisor:


invests primarily in common shares of larger
U.S. companies

uses a disciplined value style. The portfolio
advisor focuses on companies that are considered
undervalued in relation to their future prospects
and offer good absolute and relative value as
characterized by measures such as lower than
average price/book and price/earnings, and
higher-than-average dividend yield as compared
to the overall market


portfolio advisor also considers whether the
investment is a good value relative to its current
price.

uses a disciplined, bottom-up stock selection
process to evaluate a company’s current position
and future prospects
may invest in companies located outside of the
U.S.



directly.
This document provides specific information about the CI American Value Fund. It should be read in conjunction with the rest of the simplified
prospectus of the CI Funds dated July 27, 2016. This document and the document that provides general information about the CI Funds together
constitute the simplified prospectus.
35 - Part B
prospectus)

Since the fund invests primarily in U.S. equity
temporarily hold cash or short-term debt

currency risk

equity risk.
prospectus).
The fund also has style risk.
If the fund invests in companies located outside the
United States or Canada, invests in fixed income
securities, uses derivatives or engages in securities
reverse repurchase transactions, that portion of its
assets may also be affected by:

credit risk

derivatives risk


interest rate risk

short selling risk.


fund.

you want a U.S. equity fund that focuses on
value

term

36 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
25.00
24.29
12.71
13.63
0.00
1.74
14.96
3
years
($)
78.82
76.56
40.06
42.97
0.00
5.49
47.16
5
years
($)
138.16
134.20
70.21
75.31
0.00
9.63
82.67
10
years
($)
314.49
305.47
159.82
171.42
0.00
21.91
188.18
37 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
Canadian Dividend
February 1, 2005
July 7, 2008
August 29, 2012
July 29, 2015
June 12, 2006
June 7, 2006
August 29, 2012
trust
12 months. The portfolio advisor directs research
efforts to identify free cash flow generating
companies trading at a sufficient discount to their
intrinsic value. The portfolio advisor uses
quantitative and qualitative methods in the stock
selection process. The portfolio advisor chooses the
investments by seeking out reputable stocks that are
undervalued on the market compared to their true
worth, focusing on small, mid and large capitalization
Canadian corporations in a variety of industries while
favouring equity securities, including preferred stock,
that provide a stable income. The portfolio advisor
employs a bottom-up investment approach in
constructing the investment portfolio of the fund.
The fundamental investment objective of CI
Canadian Dividend Fund is to achieve a balance
between high dividend income and capital growth by
investing mainly in a diversified portfolio of
Canadian common stocks that are paying a dividend
or are expected to pay a dividend and, to a lesser
extent, in high-yield preferred shares and interest
bearing securities.
fund is to invest a majority of the fund’s total assets
in a diversified portfolio primarily composed of
shares of free cash flow generating Canadian
companies providing a stable income stream and
trading at a significant discount to their intrinsic
value.
From time-to-time, the fund may also purchase
Canadian debt securities, both governmental and
corporate. The fund may also purchase equity
securities of foreign corporations and debt securities
of foreign corporations and governmental entities
provided that the fund may only invest a maximum of
30% of its assets (book value) in foreign securities.
The portfolio advisor focuses on the fund investing in
securities with strong fundamentals, a record of
dividend payments, potential for dividend increases
or an expectation of dividend payments within 6 to
This document provides specific information about the CI Canadian Dividend Fund. It should be read in conjunction with the rest of the
38 - Part B
risk.”



credit risk

equity risk

interest rate risk

As of June 30, 2016, two investors owned
approximately 19.27% and 27.41%, respectively, of
the net asset value of the fund, which results in large
redemption risk.
If the fund invests in foreign securities or uses
affected by:

currency risk

derivatives risk

39 - Part B
short selling risk.
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O

you are seeking current income balanced by the
prospect of capital growth

term

1
year
($)
24.90
25.11
24.39
12.81
13.83
0.00
1.64
3
years
($)
78.50
79.15
76.88
40.38
43.61
0.00
5.17
5
years
($)
137.59
138.73
134.76
70.78
76.44
0.00
9.06
10
years
($)
313.20
315.78
306.76
161.11
174.00
0.00
20.62
Distribution policy
The fund expects to distribute any net income and
any net capital gains each December. In addition, the
fund expects to distribute net income earned by the
fund at the end of March, June and September of
each year.
Distributions
are automatically
reinvested without charge in additional units of
the fund, unless you ask to receive your
distributions in cash if the fund is held in a nonregistered account.
40 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Portfolio sub-advisors
Canadian equity fund
January 29, 1977
July 27, 2011
July 29, 2015
November 17, 2000
November 16, 1932
July 27, 2011
August 29, 2003
trust
Eligible
Altrinsic Global Advisors, LLC is the advisor of the
international portion of the fund
portfolio advisor:
growth by investing primarily in shares of major
Canadian corporations.

sources


The portfolio advisor may also choose to invest up to
49% of the fund’s assets in foreign securities.

invests primarily in the securities of the largest
companies (by capitalization) listed on The
Toronto Stock Exchange

manages in a disciplined value style, focusing on
companies that are considered to be undervalued
in relation to their future prospects and offer
good absolute and relative value as characterized
by measures such as lower-than-average
price/book and price/earnings, and higher-thanaverage dividend yield



uses a disciplined, bottom-up stock selection
process to evaluate a company’s current position
and future prospects.


directly.
prospectus)
This document provides specific information about the CI Canadian Investment Fund. It should be read in conjunction with the rest of the
41 - Part B

If the fund invests in foreign securities, fixed income
prospectus).

credit risk

currency risk

derivatives risk

equity risk


interest rate risk

short selling risk.
fund.


you want a core Canadian equity fund for your
portfolio

term


Distribution policy
Since the fund invests primarily in Canadian
companies, it is affected by equity risk in the
Canadian market.
42 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
24.29
23.67
12.60
13.63
0.00
1.74
13.01
3
years
($)
76.56
74.62
39.73
42.97
0.00
5.49
41.03
5
years
($)
134.20
130.80
69.65
75.31
0.00
9.63
71.91
10
years
($)
305.47
297.73
158.53
171.42
0.00
21.91
163.69
43 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
November 27, 1992
July 29, 2015
July 29, 2015
June 29, 2005
June 29, 2005
July 26, 2013
Eligible
Manulife Asset Management Limited
QV Investors Inc.

The portfolio advisor may also use qualitative
analysis, which involves assessing the quality of the
company’s management, culture, products and
consumers, among other things.
This fund’s objective is to provide investors with
long-term capital growth through investment in
equity securities of small and medium size companies
with above average growth potential. Under normal
circumstances, the fund will invest mainly in
common stocks of small and medium size Canadian
companies, which are listed for trading on a stock
exchange. When considered appropriate, in light of
economic and market conditions, the fund may also
invest in short-term debt securities, preferred shares
and debt securities convertible into equity securities.
The portfolio advisor may also choose to invest the
fund’s assets in foreign securities. It is currently
expected that investments in foreign securities will
generally be no more than 49% of the fund’s assets.

The fundamental investment objective of the fund
can only be changed with the approval of a majority
of the votes cast by unitholders at a meeting called
specifically to vote on the change to the investment
objectives.
The strategy is focused on identifying companies
with a positive change in the fundamentals. The
portfolio advisor uses a proprietary screening process
to identify small and mid-market cap companies that
exhibit some combination of the following:

accelerating levels of quarterly earnings

positive estimate revisions over the past quarter

positive earnings surprises
strong relative share price strength


directly.

prospectus)

This document provides specific information about the CI Canadian Small/Mid Cap Fund. It should be read in conjunction with the rest of the
44 - Part B
prospectus).
prospectus. It may also be affected by the following
specific risk factors described in the same section:

credit risk
The fund may vary from this investment strategy if,
due to market conditions, the fund is more likely to
meet its fundamental investment objective by
adopting a defensive strategy of investing in cash,
short-term fixed-income securities or other similar
investments.

currency risk

derivatives risk

equity risk


interest rate risk

liquidity risk

securities lending risk

In addition, stocks issued by small and medium sized
companies are generally more volatile than stocks of
larger companies.
short selling risk
fund.



term

you can tolerate medium to high risk

you want an investment with long-term capital
growth potential, where the value of the
investment may increase over time.
Since this fund offers capital gains as the primary
source of growth, it can have tax advantages in a nonregistered account. Capital gains are generally taxed
at a lower rate than interest income.
The fund’s market value may be affected by the
general risk factors described in the section called
“Types of Risk” on page 3 of Part A of the simplified
45 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
24.80
23.88
12.81
13.63
0.00
1.64
3
years
($)
78.18
75.27
40.38
42.97
0.00
5.17
5
years
($)
137.03
131.93
70.78
75.31
0.00
9.06
10
years
($)
311.91
300.31
161.11
171.42
0.00
20.62
46 - Part B
CI Global Fund
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Portfolio advisor
Global equity fund
June 3, 1986
July 29, 2015
July 29, 2015
August 8, 2000
September 26, 2001
July 26, 2013
August 29, 2003
trust
Eligible
CI Investments Inc.

price.
This fund’s objective is to obtain maximum longterm capital growth.
securities of established companies throughout the
world that the portfolio advisor believes have good
growth potential.
The fund may make large
investments in any country, including emerging
markets or emerging industries of any market.

The portfolio advisor analyzes the global economy
and industries. Based on this analysis, it identifies
the industries and then selects the companies that it
believes offer potential for strong growth.
portfolio advisor:

sources



directly.

prospectus)

prospectus).
This document provides specific information about the CI Global Fund. It should be read in conjunction with the rest of the simplified prospectus
of the CI Funds dated July 27, 2016. This document and the document that provides general information about the CI Funds together constitute
the simplified prospectus.
47 - Part B
CI Global Fund

equity risk


interest rate risk

liquidity risk.

you want a core foreign equity fund for your
portfolio

term

Distribution policy
Since the fund invests in equity securities from
anywhere in the world, it is affected by the following
risks:

currency risk


derivatives risk
fund.
commodity risk

short selling risk.

credit risk


48 - Part B
CI Global Fund
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
25.00
23.57
12.81
13.42
0.00
1.74
15.06
3
years
($)
78.82
74.30
40.38
42.32
0.00
5.49
47.49
5
years
($)
138.16
130.23
70.78
74.18
0.00
9.63
83.24
10
years
($)
314.49
296.45
161.11
168.84
0.00
21.91
189.47
49 - Part B
CI Global High Dividend Advantage Fund*
Fund details
Fund type
Date started
Class A
Class E
Class F
Class I
Class O
Type of securities
Portfolio advisor
Global equity fund
February 28, 2006
July 27, 2011
February 28, 2006
February 28, 2006
July 27, 2011
Class A, E, F, I and O units of a mutual fund trust
Eligible
CI Investments Inc.
*In light of the changes to the Income Tax Act, this fund was closed to new purchases as of the close of business on
April 15, 2013. We may, at our discretion and without prior notice, re-open this fund to new purchases at a later
date.
overall economy.
The fund may use warrants and derivatives such as
options, futures, forward contracts and swaps to gain
exposure to individual securities and markets instead
of buying the securities directly to hedge against
losses from changes in the prices of the fund’s
investments and from exposure to foreign currencies.
It will only use derivatives as permitted by securities
regulations.
The fund’s objective is to generate a consistently high
level of dividend and interest income while
preserving capital by investing, directly or indirectly,
primarily in dividend-paying common and preferred
shares, debentures, income trusts, equity-related
securities and convertible securities of issuers
anywhere in the world. Indirect investments can
include derivatives and investments in other mutual
funds.
In order to generate additional income, the fund may
enter into securities lending transactions and
in?” on page 55 of Part A of the simplified
prospectus).
In addition to holding cash, the fund also may invest
excess cash in (i) any Canadian or U.S. dollar
denominated debt security considered investment
grade, at the time of investment, by Standard &
Poor’s or another equivalent credit rating agency, and
(ii) cash equivalents. The fund may also invest in
exchange-traded funds and closed-end funds.
In order to achieve its objectives, the fund invests
primarily in dividend-paying common and preferred
shares, debentures, income trusts, equity-related
securities and convertible securities of issuers
anywhere in the world.
When deciding whether to buy or sell an investment
the portfolio advisor considers whether the
investment is a good value relative to its current price
and how it is expected to perform. The portfolio
advisor may use techniques such as fundamental
analysis to assess growth and value potential. This
This document provides specific information about the CI Global High Dividend Advantage Fund*. It should be read in conjunction with the rest
50 - Part B
short selling risk.
fund.



want a mutual fund that makes regular tax
efficient distributions for your portfolio,

are investing for the medium and/or long term,
and

can tolerate medium risk.
Distribution policy
The fund expects to make a fixed distribution each
month. Distributions are automatically reinvested
without charge in additional units of the fund,
unless you ask to receive your distributions in cash
if the fund is held in a non-registered account.
The fund is affected by the following risks:


credit risk

currency risk

equity risk


interest rate risk

Distributions are not guaranteed and may change
from time to time at our discretion. If the fund earns
more income or capital gains than the fixed
distribution, it will distribute the excess each
December. If the fund earns less than the amount
For more information, see “Specific information
about each of the mutual funds described in this
document – Distribution policy” on page 57 in Part A
of the simplified prospectus.
51 - Part B
Fees and
expenses
payable over
Class A
Class E
Class F
Class I
Class O
1
year
($)
26.13
23.67
14.45
0.00
1.74
3
years
($)
82.38
74.62
45.55
0.00
5.49
5
years
($)
144.39
130.80
79.84
0.00
9.63
10
years
($)
328.67
297.73
181.73
0.00
21.91
52 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Global equity fund
April 7, 1993
July 29, 2015
July 29, 2015
August 8, 2000
December 17, 2001
July 26, 2013
August 29, 2003
trust
Eligible

portfolio advisor emphasizes companies whose
growth potential is not reflected in their current price
and companies that are expected to realize improved
earnings.
This fund’s objective is to seek maximum long-term
capital growth.
securities of small to mid-capitalization companies
around the world. The fund may make large
investments in any country including developed and
emerging markets and emerging industries of any
market.



directly.
The portfolio advisor identifies companies that have
the potential for strong growth in their industry and
then considers the impact of economic trends.
management of each company, its industry and the
portfolio advisor:

sources


prospectus).

This document provides specific information about the CI Global Small Companies Fund. It should be read in conjunction with the rest of the
53 - Part B
prospectus).
redemption risk.
affected by:


liquidity risk


you want to invest in smaller foreign companies
with high growth potential

term

Distribution policy
of small to mid-capitalization companies around the
world, it is affected by the following risks:

interest rate risk.
equity risk

fund.

derivatives risk
currency risk

short selling risk.

credit risk


54 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
25.21
24.29
12.50
13.83
0.00
1.74
13.83
3
years
($)
79.47
76.56
39.41
43.61
0.00
5.49
43.61
5
years
($)
139.29
134.20
69.08
76.44
0.00
9.63
76.44
10
years
($)
317.07
305.47
157.24
174.00
0.00
21.91
174.00
55 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Global equity fund
June 12, 1996
July 29, 2015
July 29, 2015
August 8, 2000
December 17, 2001
July 26, 2013
Eligible

This fund’s objective is to obtain maximum longterm capital growth by identifying securities that the
portfolio advisor believes are undervalued and have
the potential for future growth.
securities of companies around the world. The fund
may make large investments in any country,
including emerging markets or emerging industries of
any market.
portfolio advisor:

sources




directly.

prospectus)

prospectus).
price.
This document provides specific information about the CI Global Value Fund. It should be read in conjunction with the rest of the simplified
56 - Part B

short selling risk.


liquidity risk.
fund.

portfolio

term

Distribution policy

currency risk

equity risk

The fund also has style risk.
redemption risk.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O

credit risk

derivatives risk


interest rate risk
1
year
($)
25.21
24.29
12.81
13.22
0.00
1.74
3
years
($)
79.47
76.56
40.38
41.67
0.00
5.49
5
years
($)
139.29
134.20
70.78
73.04
0.00
9.63
10
years
($)
317.07
305.47
161.11
166.27
0.00
21.91
This document provides specific information about the CI Global Value Fund. It should be read in conjunction with the rest of the simplified
57 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
International equity fund
June 12, 1996
July 29, 2015
July 29, 2015
December 18, 2001
December 17, 2001
July 26, 2013
August 29, 2003
trust
Eligible
price.

securities of companies whose primary operations are
outside of North America. The fund may make
significant investments in any country including
emerging markets and emerging industries of any
market.
sources



directly.
prospectus)

The portfolio advisor identifies securities that it
believes are undervalued and have the potential for
future growth.



portfolio advisor:
prospectus).
This document provides specific information about the CI International Value Fund. It should be read in conjunction with the rest of the
58 - Part B

equity risk



interest rate risk

liquidity risk.

portfolio

term

Distribution policy

derivatives risk
fund.
currency risk


credit risk
securities lending risk. If the fund engages in short
selling, the fund also has short selling risk.


The fund also has large redemption risk and style
risk..
59 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
25.21
24.39
12.71
13.83
0.00
1.64
15.06
3
years
($)
79.47
76.88
40.06
43.61
0.00
5.17
47.49
5
years
($)
139.29
134.76
70.21
76.44
0.00
9.06
83.24
10
years
($)
317.07
306.76
159.82
174.00
0.00
20.62
189.47
60 - Part B
CI Pacific Fund
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Asia and Pacific Rim equity fund
October 30, 1981
July 29, 2015
July 29, 2015
August 8, 2000
December 17, 2001
July 26, 2013
Eligible

price.
securities of established companies that the portfolio
advisor believes have good growth potential. These
companies operate in or are listed on stock exchanges
in the Asia and Pacific Rim region. The fund may
invest in any country in the region.

and the economies of Asia and the Pacific Rim, as
well as the industries in those regions. Based on this
analysis, it identifies the countries and then selects
the companies that it believes offer potential for
strong growth.
portfolio advisor:

sources



directly.

prospectus)

prospectus).
This document provides specific information about the CI Pacific Fund. It should be read in conjunction with the rest of the simplified prospectus
61 - Part B
CI Pacific Fund

derivatives risk

interest rate risk.
short selling risk.
fund.



you want to invest in companies in Asia and the
Pacific Rim

term

you can tolerate medium to high risk.
Distribution policy
of companies in Asia and the Pacific Rim, it is
affected by the following risks:

currency risk


equity risk


liquidity risk.
Fees and
expenses payable
over
Class A
Class E
Class EF
Class F
Class I
Class O
affected by:

credit risk
1
year
($)
25.00
24.59
12.81
13.32
0.00
1.64
3
years
($)
78.82
77.53
40.38
42.00
0.00
5.17
5
years
($)
138.16
135.89
70.78
73.61
0.00
9.06
10
years
($)
314.49
309.33
161.11
167.56
0.00
20.62
This document provides specific information about the CI Pacific Fund. It should be read in conjunction with the rest of the simplified prospectus
62 - Part B
Harbour Fund
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
June 27, 1997
July 27, 2011
July 29, 2015
August 8, 2000
September 26, 2001
July 27, 2011
Eligible
CI Investments Inc.

securities of high-quality, large and midcapitalization Canadian companies that the portfolio
advisor believes have good potential for future
growth.

sources




directly.

prospectus)

portfolio advisor:
prospectus).
This document provides specific information about the Harbour Fund. It should be read in conjunction with the rest of the simplified prospectus
63 - Part B
Harbour Fund
Part A of the simplified prospectus, as well as an
fund.



you want a core Canadian equity fund for
your portfolio

you are investing for the medium and/or
long term

on page 57 of the Part A of the simplified
prospectus.
Distribution policy
of Canadian companies, it is affected by equity risk in
the Canadian market.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O

commodity risk

credit risk

currency risk

derivatives risk


interest rate risk.
1
year
($)
25.00
23.67
12.09
13.63
0.00
1.74
3
years
($)
78.82
74.62
38.12
42.97
0.00
5.49
5
years
($)
138.16
130.80
66.81
75.31
0.00
9.63
10
years
($)
314.49
297.73
152.09
171.42
0.00
21.91
short selling risk.
This document provides specific information about the Harbour Fund. It should be read in conjunction with the rest of the simplified prospectus
64 - Part B
Fund details
Fund type
Emerging markets equity fund
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
September 10, 1991
July 29, 2015
July 29, 2015
August 8, 2000
October 1, 2001
July 26, 2013
Eligible
CI Investments Inc.
securities of companies that the portfolio advisor
believes have good growth potential.
These
companies are located in emerging markets and
emerging industries of any market.

price.

and the economies and industries of various emerging
markets. Based on this analysis, it identifies the
countries and then the companies that it believes offer
potential for strong growth.
portfolio advisor:

sources



directly.

prospectus)

prospectus).
This document provides specific information about the Signature Emerging Markets Fund. It should be read in conjunction with the rest of the
65 - Part B


of companies in emerging markets and industries, it
is affected by the following risks:

commodity risk

currency risk


equity risk


liquidity risk.
affected by:

credit risk,

derivatives risk

interest rate risk.
short selling risk.
fund.

you want to invest in emerging markets

term

you can tolerate high risk.
Distribution policy
66 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
27.77
23.77
12.30
16.70
0.00
1.64
3
years
($)
87.55
74.95
38.77
52.66
0.00
5.17
5
years
($)
153.45
131.36
67.95
92.30
0.00
9.06
10
years
($)
349.29
299.02
154.67
210.09
0.00
20.62
67 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
This fund’s objective is to achieve high total
investment return by investing in primarily equity
securities of companies anywhere in the world that
pay, or may be expected to pay, dividends, as well as
in other types of securities that may be expected to
distribute income.
Global equity fund
December 20, 2012
December 20, 2012
July 29, 2015
December 20, 2012
July 26, 2013
December 20, 2012
Eligible
CI Investments Inc.
The fund is diversified across different countries and
regions, and this may vary from time to time,
depending upon the portfolio advisor’s view of
specific investment opportunities and macroeconomic factors. The fund may make investments
in any country, including emerging markets or
emerging industries of any market.

The portfolio advisor of the fund identifies
companies that have the potential for success in their
industry and then considers the impact of economic
trends.
The portfolio advisor uses techniques such as
fundamental analysis to assess growth potentials and
evaluation, the portfolio advisor:

sources




directly.

prospectus)

prospectus).
This document provides specific information about the Signature Global Dividend Fund. It should be read in conjunction with the rest of the
68 - Part B
simplified prospectus). The fund may also invest in
exchange-traded fund and closed-end funds that are
managed by us, an affiliate or associate of ours, or
other mutual fund managers.

credit risk

currency risk

emerging markets risk

equity risk


interest rate risk.
The portfolio advisor may engage in active or
possibility that an investor will receive taxable
distributions. This can also increase trading costs,
which lower the fund’s returns.


Since the fund invests in equity and other incomeproducing securities, it is affected by the following
risks:
The fund also has capital depreciation risk.
short selling risk.
fund.

portfolio with the potential for long term growth

term

69 - Part B
Distribution policy
more income or capital gains than the distribution, it
will distribute the excess each December. If the fund
difference is a return of capital. For more
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.31
23.47
11.99
13.53
0.00
1.64
3
years
($)
79.79
73.98
37.80
42.64
0.00
5.17
5
years
($)
139.86
129.67
66.25
74.74
0.00
9.06
10
years
($)
318.36
295.16
150.80
170.13
0.00
20.62
70 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class O
Type of securities
Portfolio advisor
Global equity fund
April 11, 1997
July 29, 2015
July 29, 2015
December 18, 2001
July 29, 2015
Class A, E, EF, F and O units of a mutual fund trust
Eligible
CI Investments Inc.


The fund’s objective is to obtain maximum long-term
capital growth. It invests primarily in equity and
equity-related securities of companies engaged in or
related to the energy, commodity and natural resource
industries throughout the world.

directly.

prospectus).

good value and the potential for strong growth in
their industry and then considers the impact of
economic trends.
The portfolio advisor selects investments it believes
are trading below their true value and that offer the
potential for consistently high growth potential.
potential.

sources


prospectus).
This document provides specific information about the Signature Global Resource Fund. It should be read in conjunction with the rest of the
71 - Part B


Since the fund concentrates its investments in the
natural resources sector, it is sensitive to changes in
that sector.
Natural resources investments are
cyclical in nature and are sensitive to fluctuations in
supply and demand in world commodity markets.
The fund is also affected by equity risk and large
redemption risk.
securities or uses derivatives, or engages in short
selling, that portion of its assets may also be affected
by:

commodity risk

credit risk

currency risk

derivatives risk


interest rate risk.
short selling risk.
fund.

you want exposure to the high growth potential
of resource stocks

term

you can tolerate high risk.
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class O
1
year
($)
24.59
23.57
11.99
13.42
1.74
3
years
($)
77.53
74.30
37.80
42.32
5.49
5
years
($)
135.89
130.23
66.25
74.18
9.63
10
years
($)
309.33
296.45
150.80
168.84
21.91
This document provides specific information about the Signature Global Resource Fund. It should be read in conjunction with the rest of the
72 - Part B
Fund details
International equity fund
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
August 5, 1999
July 29, 2015
July 29, 2015
August 8, 2000
July 15, 2003
July 26, 2013
August 29, 2003
trust
Eligible
CI Investments Inc.
Portfolio advisor
This fund’s objective is to obtain long-term capital
growth.
securities of companies whose primary operations are
outside of North America. The fund may make large
investments in any country including emerging
markets and emerging industries of any market.
price.


analyzes financial
information sources


conducts
possible.
company
data
and
interviews,
other
where


directly.

prospectus)

and industries. Based on this analysis, it identifies
the countries and then selects the companies that it
believes offer potential for strong growth.
portfolio advisor:
prospectus).
This document provides specific information about the Signature International Fund. It should be read in conjunction with the rest of the
73 - Part B
affected by:


equity risk


liquidity risk.

portfolio

term

Distribution policy
risks:

interest rate risk.
currency risk


derivatives risk
fund.
commodity risk

short selling risk.

credit risk


74 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
25.11
23.47
12.91
13.83
0.00
1.74
14.96
3
years
($)
79.15
73.98
40.70
43.61
0.00
5.49
47.16
5
years
($)
138.73
129.67
71.34
76.44
0.00
9.63
82.67
10
years
($)
315.78
295.16
162.40
174.00
0.00
21.91
188.18
75 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Real estate
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
Eligible
CI Investments Inc.

financial markets instead of buying the securities
directly.
The fund’s investment objective is to provide
attractive returns by investing primarily in a
diversified portfolio of real estate investment trust
units, as well as equity and equity-related securities
issued by companies or entities in the real estate
industry throughout the world.
Derivatives will only be used as permitted by
This fund may also enter into securities lending
repurchase transactions, to the extent permitted by
securities regulations, to earn additional income.
The fund focuses primarily on real estate investment
trust units, as well as equity and equity-related
securities of those companies or entities in the real
estate industry. Such issuers may include
corporations, real estate investment trusts (REIT’s)
and master limited partnerships from throughout the
world. The fund will not have any direct ownership
or investment in land or buildings. When deciding to
buy or sell securities for the fund, the portfolio
advisor will consider factors such as the growth
potential, earnings estimates, cash flow, quality of
management, and the implied discount or premium to
intrinsic value of the underlying properties.
This fund may obtain exposure on some of its assets
to securities of other mutual funds (see “What does
the fund invest in?” on page 55 of Part A of the
The fund may use derivatives such as options,

In the event of adverse market, economic and/or
political conditions, the portfolio advisor may invest
in cash and cash equivalent securities.
protect against losses from changes in the prices
of its investments and from exposure to foreign
currencies
This document provides specific information about the Signature Real Estate Pool. It should be read in conjunction with the rest of the simplified
76 - Part B



are seeking capital growth

are investing for the medium to long term

can tolerate medium to high risk.
prospectus.
Distribution policy
The fund expects to make a distribution each month
and you may receive it in cash or as reinvested units
of the fund. Distributions are automatically
the fund unless you ask to receive your

concentration risk

credit risk

currency risk

derivatives risk

equity risk


interest rate risk


liquidity risk

real estate investment risk

sector risk

will reduce the fund’s returns. Information on the
fund’s expenses is not available as the fund is new,
and it has not completed a financial year.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
short selling risk.
1
year
($)
26.03
23.16
12.81
14.14
0.00
1.74
3
years
($)
82.05
73.01
40.38
44.58
0.00
5.49
5
years
($)
143.82
127.97
70.78
78.14
0.00
9.63
10
years
($)
327.38
291.29
161.11
177.87
0.00
21.91
fund.
This document provides specific information about the Signature Real Estate Pool. It should be read in conjunction with the rest of the simplified
77 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Portfolio advisor
May 13, 1998
July 27, 2011
July 29, 2015
August 8, 2000
December 17, 2001
July 27, 2011
August 29, 2003
trust
Eligible
CI Investments Inc.
This fund’s objective is to seek capital appreciation
over the long-term coupled with dividend income.
It invests primarily in common shares and convertible
securities of Canadian companies and preferred
shares that pay regular income.
The fund’s
investments are diversified across industry sectors.

trends.
potential.

sources




directly.

prospectus).

prospectus).
This document provides specific information about the Signature Select Canadian Fund. It should be read in conjunction with the rest of the
78 - Part B

derivatives risk


interest rate risk.
short selling risk.
fund.



you want a Canadian equity fund for your
portfolio

term

Distribution policy
of Canadian companies, it is affected by equity risk in
the Canadian market.

commodity risk

credit risk

currency risk
79 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
25.00
23.88
12.71
13.53
0.00
1.74
12.81
3
years
($)
78.82
75.27
40.06
42.64
0.00
5.49
40.38
5
years
($)
138.16
131.93
70.21
74.74
0.00
9.63
70.78
10
years
($)
314.49
300.31
159.82
170.13
0.00
21.91
161.11
80 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Global equity fund
July 16, 2010
July 29, 2015
July 29, 2015
July 16, 2010
November 7, 2006
July 26, 2013
Eligible
CI Investments Inc.

securities of companies throughout the world that the
portfolio advisor believes have good growth
potential. The fund may make large investments in
any country, including emerging markets or emerging
industries of any market. The fund may invest
indirectly, including through securities of other
mutual funds and the use of derivatives.

potential.

sources



directly.

prospectus).

trends.
prospectus).
This document provides specific information about the Signature Select Global Fund. It should be read in conjunction with the rest of the
81 - Part B

currency risk

equity risk



interest rate risk

liquidity risk.

portfolio

term

risks:

derivatives risk
fund.
commodity risk

short selling risk.

credit risk


Distribution policy
82 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.62
23.98
12.81
14.14
0.00
1.74
3
years
($)
80.76
75.59
40.38
44.58
0.00
5.49
5
years
($)
141.56
132.50
70.78
78.14
0.00
9.63
10
years
($)
322.22
301.60
161.11
177.87
0.00
21.91
83 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
August 31, 1992
July 29, 2015
July 29, 2015
August 8, 2000
December 17, 2001
July 26, 2013
Eligible
The portfolio advisor may also use qualitative
analysis, which involves assessing the quality of the
company’s management, culture, products and
customers, among other things.
This fund’s objective is to obtain long-term
appreciation of capital.
securities of companies that the portfolio advisor
believes have good growth potential.
These
companies are located in countries that have signed
the North American Free Trade Agreement (NAFTA)
(or its successor). These countries currently include
the United States, Canada and Mexico, but may also
include countries that become members of NAFTA in
the future.


prospectus).

The portfolio advisor seeks to outperform the S&P
500 Index over the long-term with similar or lower
volatility. It uses a proprietary screening process to
identify securities that meet minimum levels of
market capitalization, liquidity and analyst coverage
and that show some combination of the following:

accelerating levels of quarterly earnings

positive estimate revisions over the past quarter

positive earnings surprises

strong relative share price strength


directly.
prospectus).
This document provides specific information about the Synergy American Fund. It should be read in conjunction with the rest of the simplified
84 - Part B
short selling risk.
fund.

you want to invest in North American equity
securities with high growth potential

term

you can tolerate medium risk
Since the fund invests primarily in North American
equity securities, it is affected by equity risk and
currency risk.


Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
If the fund invests in companies located outside the
United States or Canada, invests in fixed income

credit risk

derivatives risk


interest rate risk.
1
year
($)
25.21
24.29
12.81
13.94
0.00
1.74
3
years
($)
79.47
76.56
40.38
43.93
0.00
5.49
5
years
($)
139.29
134.20
70.78
77.01
0.00
9.63
10
years
($)
317.07
305.47
161.11
175.29
0.00
21.91
This document provides specific information about the Synergy American Fund. It should be read in conjunction with the rest of the simplified
85 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Global Balanced
January 29, 2007
July 7, 2008
July 29, 2015
July 29, 2015
January 29, 2007
January 29, 2007
July 26, 2013
trust
CI Investments Inc.
The global equities component of the fund’s portfolio
will be invested by Black Creek Investment
Management Inc. (“Black Creek”). Black Creek as
portfolio sub-advisor takes a long-term view of the
world and strives to understand the economics and
characteristics of different businesses and industries.
Creek Global Balanced Fund is to seek the growth of
long-term total return by investing primarily in a
balanced portfolio of equities, convertible and fixed
income securities issued by governments, supranational agencies or corporations anywhere in the
world.
Black Creek as portfolio sub-advisor analyzes
historical financial performance, trends and
technological changes in the business, sensitivities to
economic factors, and other factors which may affect
the future economics of the business. Black Creek as
portfolio sub-advisor strives to select companies with
industry leadership, strong management, growing
profits and potential for capital appreciation.
To achieve its objective, the investment policy of the
fund is to invest a majority of the fund’s assets in a
portfolio consisting of equities, convertible and fixed
income investments issued globally.
The global equity securities in which the fund will
invest are a diversified portfolio of primarily globally
competitive companies within growing sectors.
The fixed income component of the fund’s portfolio
will be invested by CI Investments Inc. This fixed
income component of the fund will primarily be
invested in global debt securities such as high quality
government, non-government and corporate bonds.
To a lesser extent, this component of the fund may
also invest in higher yielding, lower quality fixed
income securities as well as other asset classes
including, but not limited to, bank loans or loan
participation interests in secured, second lien or
unsecured variable, fixed or floating rate loans,
convertible securities and preferred stocks. Higher
yielding, lower quality fixed income securities may
include non-investment grade debt securities that are
rated below BBB by Standard & Poors (or the
equivalent rating from another rating agency), as well
The debt securities in which the fund will invest are a
diversified portfolio of primarily convertible and
fixed income investments issued by governments,
corporations and supra-national organizations
throughout the world.
This document provides specific information about the Black Creek Global Balanced Fund. It should be read in conjunction with the rest of the
86 - Part B
risk.”
as debt obligations of issuers located in emerging
markets. CI Investments Inc. will endeavor to ensure
that at all times, the average credit quality of the
fixed income component of the portfolio remains
investment grade. In choosing investments, CI
Investments Inc. as portfolio advisor uses quantitative
and qualitative factors, including credit analysis,
security selection, adjustment of foreign exchange
exposure and the fund’s average maturity. The
investment team uses “top-down” analysis to
determine which securities may benefit or be harmed
from changes in the economy. The investment team
then selects individual securities to buy or sell, which
from a total return perspective, appear either
attractive or unattractive.
Asset allocation decisions are based on the judgment
of the portfolio advisor of the fund in respect of the
proposed investment environment for financial assets,
relative fundamental values, the attractiveness of each
asset category and expected future returns of each
asset category. The portfolio advisor does not attempt
to engage in short-term market timing among asset
categories. There is no limit on the amount of fund
assets that may be allocated to each asset category
and the allocation is in the discretion of the Manager
and the portfolio advisor. As a result, shifts in asset
allocation are expected to be gradual and continuous
and the fund will normally have some portion of its
assets invested in each asset category.
87 - Part B



you can tolerate low to medium risk.
Distribution policy

concentration risk

credit risk

currency risk

equity risk


interest rate risk

Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
short selling risk.
1
year
($)
25.41
25.62
22.75
11.37
13.83
0.00
1.74
3
years
($)
80.12
80.76
71.72
35.86
43.61
0.00
5.49
5
years
($)
140.42
141.56
125.70
62.85
76.44
0.00
9.63
10
years
($)
319.65
322.22
286.13
143.07
174.00
0.00
21.91

you are seeking growth and income

you are investing for the medium term
88 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Canadian balanced fund
June 27, 1997
July 27, 2011
July 29, 2015
December 17, 2001
September 26, 2001
July 27, 2011
Eligible
CI Investments Inc.
For the fixed income portion of the fund, the portfolio
advisor may also analyze:

the yield curve
This fund’s objective is to obtain long-term total
return through a prudent balance of income and
capital appreciation.

expected changes in interest rates

credit ratings and credit risk
securities of mid- to large capitalization Canadian
companies and fixed income securities issued by
Canadian governments and companies.
The
proportion of the fund’s assets invested in equity and
fixed income securities may vary according to market
conditions.

the issuer’s ability to generate enough cash to
service debt and reinvest in its business over the
long term.
potential.


sources





directly.
This document provides specific information about the Harbour Growth & Income Fund. It should be read in conjunction with the rest of the
89 - Part B
prospectus).

temporarily hold cash or
Since the fund invests in a mix of equity and fixed
income securities, it is affected by the following
risks:
cash-equivalent
prospectus).

commodity risk

credit risk

equity risk

interest rate risk.
redemption risk.
affected by:

currency risk

derivatives risk

short selling risk.


fund.

you want both equity and fixed income securities
in a single fund and prefer to have the portfolio
advisor make the asset mix decisions


prospectus.
90 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.00
22.65
11.58
13.53
0.00
1.74
3
years
($)
78.82
71.39
36.50
42.64
0.00
5.49
5
years
($)
138.16
125.14
63.98
74.74
0.00
9.63
10
years
($)
314.49
284.85
145.64
170.13
0.00
21.91
91 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
June 25, 1997
July 26, 2012
July 29, 2015
July 29, 2015
August 8, 2000
July 15, 2003
July 26, 2013
trust
CI Investments Inc.

sources

This fund’s objective is to achieve an attractive total
return, consisting of income and capital gains.

It invests primarily in a mix of Canadian equity and
equity-related securities and fixed income securities.
The fund is not limited to how much it invests or
keeps invested in each asset class. The mix may vary
For the fixed income portion of the fund, the portfolio
advisor:
trends.

selects only high-quality fixed income securities,
including bank loans and floating rate debt
instruments

may invest a higher or lower proportion in bonds
with longer terms to maturity based on its
assessment of future interest rates.
Equity investments are diversified across industry
sectors and emphasize companies that pay consistent
dividends or income.

potential.

This document provides specific information about the Signature Canadian Balanced Fund. It should be read in conjunction with the rest of the
92 - Part B



directly.
prospectus).

commodity risk

credit risk

equity risk

interest rate risk.
Since the fund invests in a mix of equity and fixed
risks:
cash-equivalent
prospectus).
affected by:

currency risk

derivatives risk

short selling risk.



you want both equity and fixed income securities
in a single fund and prefer to have the portfolio
advisor make the asset mix decisions


regular tax-efficient monthly distributions. This class
of units cannot be purchased by investors who are
investing through a registered plan.
93 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.11
24.59
23.06
11.58
13.42
0.00
1.74
3
years
($)
79.15
77.53
72.69
36.50
42.32
0.00
5.49
5
years
($)
138.73
135.89
127.40
63.98
74.18
0.00
9.63
10
years
($)
315.78
309.33
290.00
145.64
168.84
0.00
21.91
94 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Global balanced fund
February 26, 2007
July 27, 2011
December 5, 2014
February 26, 2007
February 26, 2007
July 27, 2011
Eligible
CI Investments Inc.
these securities will vary depending on the portfolio
advisor’s outlook for interest rates.
In selecting investments for the fund, the portfolio
advisor uses a combination of top down macro
analysis and fundamental analysis for bottom up
security selections. When deciding whether to buy or
sell an investment, the portfolio advisor also
considers whether the investment is a good value
relative to its current price.
This fund’s objective is to generate income and long
term capital growth by investing, directly or
indirectly, in a combination of equity and fixed
income securities of companies located anywhere in
the world.
Indirect investments may include
convertible securities, derivatives, equity-related
securities and securities of other mutual funds.
The fund also may seek additional income through:
approved by a majority of the votes cast by
unitholders at a meeting called to consider the
change.

investment in real estate investment trusts,
royalty trusts, income trusts, master limited
partnerships and other similar investments

writing covered call options.
This fund invests, directly or indirectly, in a
combination of equity and fixed income securities of
companies located anywhere in the world. The fund
is not limited to how much it invests in any single
country or asset class. This will vary according to
market conditions.

To the extent the fund invests in equity securities,
these will include preferred and common shares that
are diversified by sector and style.
Investments in fixed income securities may consist of
high yielding government and corporate bonds,
debentures, loans and notes. This may include
securities that are unrated or have a credit rating
below investment grade. The term to maturity of



directly.
This document provides specific information about the Signature Global Income & Growth Fund. It should be read in conjunction with the rest of
95 - Part B
prospectus)


prospectus).

commodity risk

credit risk

currency risk

derivatives risk

equity risk


interest rate risk



short selling risk

underlying fund risk.
fund.
The portfolio advisor may engage in active or
possibility that an investor will receive taxable
distributions. This can also increase trading costs,
which lower the fund’s returns.

want both foreign equity and fixed income
securities in a single fund and prefer to have the
portfolio advisor make the asset mix decisions

are investing for the medium term

can tolerate low to medium risk.


Distribution policy
96 - Part B
more income or capital gains in a year than the
monthly distributions for that year, the fund will
distribute the excess in December of that year. If the
fund earns less in a year than its monthly
distributions, the difference will be a return of capital.
See “Specific information about each of the mutual
funds described in this document – Distribution
policy” on page 57 in Part A of the simplified
prospectus.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.21
22.34
11.17
13.83
0.00
1.74
3
years
($)
79.47
70.42
35.21
43.61
0.00
5.49
5
years
($)
139.29
123.44
61.72
76.44
0.00
9.63
10
years
($)
317.07
280.98
140.49
174.00
0.00
21.91
97 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
November 13, 2000
July 26, 2012
July 27, 2011
December 5, 2014
November 30, 2000
March 1, 2005
July 27, 2011
trust
CI Investments Inc.
trusts and other similar high yielding instruments.
The portfolio advisor will seek to produce additional
income through covered call writing and other
derivative strategies.
The fund seeks to provide a steady flow of current
income while preserving capital by investing in a
diversified portfolio of securities composed mainly of
equity, equity-related and fixed income securities of
Canadian issuers. The fund may also invest in
foreign securities.
The fundamental investment
objective of the fund cannot be changed without
obtaining unitholder approval.
The portfolio advisor uses a combination of top down
macro analysis and fundamental analysis for bottomup security selection.
price.
The portfolio advisor seeks to achieve the fund’s
investment objective by investing in a combination of
equity, fixed income and derivatives. To achieve its
objective, the portfolio advisor will actively manage
the equity, fixed income, and cash components of the
fund. The fund is not limited to how much it invests
in each asset class. This will vary according to market
conditions. To the extent the fund invests in equity
securities, these will include preferred and common
shares broadly diversified by sector and style. Fixed
income may consist of high-yielding government and
corporate bonds, debentures, bank loans and floating
rate debt instruments. This may include securities
that are unrated or have credit rating below
investment grade. The term to maturity of these
securities will vary depending on the portfolio
advisor’s outlook for interest rates. The fund may
also generate income by investing in real estate
investment trusts (REITs), royalty trusts, income




directly.
This document provides specific information about the Signature Income & Growth Fund. It should be read in conjunction with the rest of the
98 - Part B

prospectus)
securities for strategic reasons
cash-equivalent
Since the fund invests in fixed income and Canadian
equity securities, it is affected by the following risks:
prospectus).

commodity risk

credit risk

currency risk

derivatives risk

equity risk


interest rate risk


sector risk

The fund may engage in securities lending,
transactions. The extent to which the fund engages in
these types of transactions will be dependent upon the
availability of suitable counterparties as well as the
portfolio advisor’s determination of the viability of
entering into such transactions at that time.


redemption risk.
short selling risk.

you are seeking a regular income


99 - Part B
Distribution policy
distributions, it will distribute the excess each
regular monthly cash distributions.
For more
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
1
year
($)
24.70
25.52
22.03
11.17
13.42
0.00
1.64
3
years
($)
77.85
80.44
69.45
35.21
42.32
0.00
5.17
5
years
($)
136.46
140.99
121.74
61.72
74.18
0.00
9.06
10
years
($)
310.62
320.93
277.11
140.49
168.84
0.00
20.62
100 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
September 18, 1998
July 29, 2015
July 29, 2015
November 30, 2000
June 23, 2005
July 29, 2015
Eligible
overall economy.
portfolio advisor:

sources


analyzes the expected direction of interest rates
and the yield curve

analyzes credit ratings, credit risk and term to
maturity of fixed income securities.
The fund seeks to achieve a combination of capital
growth and income by investing primarily in equity,
equity-related and fixed income securities of
Canadian issuers. The fund may also invest in
foreign securities. The fundamental investment
objective of the fund cannot be changed without
obtaining securityholder approval.


actively manages the fund using equity, fixed
income instruments, and cash and cash
equivalents. The fund is not limited to how
much it invests in each asset class. This will
vary according to market conditions.
invests mainly in Canadian stocks for the equity
portion of the portfolio, relying on a disciplined,
bottom-up stock selection process to evaluate a
company’s current position and future prospects
As part of this evaluation, the
price.

invests mainly in high quality government and
corporate issues for the bond portion of the
portfolio.


directly.


This document provides specific information about the Synergy Tactical Asset Allocation Fund. It should be read in conjunction with the rest of
101 - Part B
prospectus)

temporarily hold cash or cash equivalents for
strategic reasons.
prospectus).
The fund may invest in certain companies for
relatively short-term periods.
Such short-term
activity will generate higher portfolio turnover and
may cause the fund to incur higher brokerage costs.
This may adversely affect performance and may
result in increased payments of capital gains
distributions.
Your main risks are Canadian equity and fixed
income risk, which includes interest rate risk and
credit risk. Returns will vary depending on asset
weightings and investment style allocations, which
will shift from time to time in response to domestic
and global economic and market conditions. The
fund’s performance may also be affected by the risks
specific to certain types of investments, such as:

derivatives risk


liquidity risk

sector risk



you are looking to add an asset allocation fund to
your portfolio




short selling risk.
fund.
prospectus.
102 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
24.70
23.06
11.78
13.42
0.00
1.74
3
years
($)
77.85
72.69
37.15
42.32
0.00
5.49
5
years
($)
136.46
127.40
65.12
74.18
0.00
9.63
10
years
($)
310.62
290.00
148.22
168.84
0.00
21.91
103 - Part B
Cambridge Global High Income Fund*
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Diversified income
July 2, 2004
July 26, 2013
December 5, 2014
July 20, 2004
September 3, 2004
July 26, 2013
Eligible
* Formerly Cambridge High Income Fund
This fund’s objective is to achieve a high level of
income by investing primarily in fixed income and
high-yielding equity securities and other incomeproducing securities throughout the world.
approved by a majority of the votes cast by
unitholders at a meeting called to consider the
change.
The fund invests primarily in companies throughout
the world that have the potential for growth and value
in their industry and then considers the impact of
economic trends. The portfolio advisor to the fund
will actively manage the equity, fixed income, and
cash components of the fund. The fund is not limited
to how much it invests in each asset class or
geographic mix. This will vary according to market
conditions. The portfolio advisor to the fund decides
how much of the fund’s assets are invested in equity
and fixed income securities according to market
conditions.
The fund’s equity portion includes equities that are
expected to distribute income. Equity investments
may include common shares, preferred shares, real
estate investment trusts (REITs), royalty trusts, and
similar high-yielding investments.
The portfolio advisor to the fund may use techniques
such as underlying fundamental analysis to assess
growth and value potential. This means evaluating
the financial condition and management of each
part of this evaluation, the portfolio advisor to the
fund:

analyzes credit ratings

sources


portfolio advisor to the fund considers whether the
price.
Fixed income securities may include investment
grade corporate and government fixed income
securities throughout the world. The fund may also
invest in corporate bonds that have a below
investment grade credit rating or are unrated, but
offer a higher yield than investment grade bonds. It
may also invest in bank loans, convertible bonds and
floating rate debt instruments. The fund may also
invest in emerging market bonds. These investments
may be denominated in or have exposure to foreign
currencies. The portfolio advisor to the fund will
select the maturity of each investment according to
market conditions. The fund may also invest in
exchange-traded funds and closed-end funds.
The portfolio advisor may also choose to use
warrants and derivatives such as options, futures,
forward contracts and swaps to:
This document provides specific information about the Cambridge Global High Income Fund*. It should be read in conjunction with the rest of
104 - Part B
hedge against losses from changes in the prices
of the fund’s investments and from exposure to
foreign currencies

equity risk

markets instead of buying the securities directly.

interest rate risk

The fund may also enter into securities lending
securities regulations, to earn additional income for
the fund.

liquidity risk.

securities regulations. In determining whether






Since the fund invests, directly or indirectly, in equity
and fixed income securities, the fund is affected by

credit risk

currency risk
In addition, the fund is also affected by the following
risks:
short selling risk.
fund.

you want to receive income


Distribution policy
income or capital gains than the fixed distribution, it
will distribute the excess each December. If the
105 - Part B
fund earns less than the amount distributed, the
For more
information, see “Canadian federal Income tax
considerations for investors” on page 49 in Part A of
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
23.77
22.65
11.37
12.40
2.15
1.74
3
years
($)
74.95
71.39
35.86
39.09
6.78
5.49
5
years
($)
131.36
125.14
62.85
68.51
11.89
9.63
10
years
($)
299.02
284.85
143.07
155.96
27.07
21.91
106 - Part B
Cambridge Income Fund*
Fund details
Fund type
Date started
Class A
Class E
Class F
Class O
Type of securities
Diversified Income
January 9, 2012
January 9, 2012
January 9, 2012
January 9, 2012
Class A, E, F and O units of a mutual fund trust
Eligible
date. For more information, please refer to “Funds utilizing forward agreements” on page 9 in Part A of the
The fund’s objective is to achieve tax-efficient
returns through exposure to a portfolio of fixed
income and high-yielding equity securities
throughout the world. The fund will obtain this
exposure primarily through a reference fund by
entering into derivatives, but may hold fixed income
and equity securities directly from time to time.
In order to meet its objective, the fund will enter into
one or more forward purchase and sale agreements
(each called a “Forward Agreement”) with
counterparties (each called a “Counterparty”).
Pursuant to each Forward Agreement, the fund will
agree to purchase from, or sell to, the relevant
Counterparty on a future date (the “Forward Date”) a
specified portfolio of Canadian securities (each a
“Canadian equity portfolio”). The amount paid or
delivered by the Counterparty on the Forward Date
will be determined by reference to the returns of
Cambridge Income Trust, also called the reference
fund, which is a mutual fund that invests primarily in
fixed income and high-yielding equity securities
throughout the world. In this way, the fund’s risks
and returns will be similar to those of its reference
fund. During the term of the Forward Agreements,
the fund will pledge its assets to the Counterparties
and pay fees to the Counterparties. The fund will
hold cash directly on an on-going basis during the
term of the Forward Agreements. The fund will
partially settle the Forward Agreements from time to
time prior to the Forward Date in order to fund
redemptions of fund securities and the payment of
expenses and other liabilities of the fund.
If we use a forward purchase transaction, we will
ensure that (a) the fund’s assets will be comprised
solely of its cash and its forward transaction, and (b)
the fund’s cash will be deposited with and pledged to
the Counterparty as security for performance by the
fund of its obligations under the forward transaction.
The fund is therefore fully exposed to the credit risk
associated with the Counterparty for the cash deposit
and the forward purchase transaction. However, the
Counterparty will pledge securities to the fund or
enter into other similar arrangements to secure the
Counterparty’s obligations under the forward
transaction.
reference fund. Factors such as adherence to the
stated investment mandate, returns, risk-adjusted
return measures, assets, investment management
process, style, consistency and continued portfolio fit
may be considered. In selecting the reference fund,
we assess a variety of criteria including:

Management style
This document provides specific information about the Cambridge Income Fund*. It should be read in conjunction with the rest of the simplified
107 - Part B

Investment performance and style
Reference fund

Risk tolerance levels

Calibre of reporting procedures

Quality of the manager and/or portfolio advisor.
The reference fund’s objective is to generate income
by investing in a portfolio of fixed income and highyielding equity securities throughout the world.
The fund will treat gains and losses on the sale of
securities in the Canadian equity portfolios as capital
gains and losses. Capital gains will be taxed at a
lower rate than if the gains were a different type of
income (such as interest income).
The fund will use derivatives only in compliance with
the securities regulations applicable to mutual funds.
These requirements include that:


the fund will enter into a derivative only if the
counterparty, or an affiliate that has fully and
unconditionally guaranteed the obligations of the
counterparty under the derivative, has an
approved credit rating for this purpose; and
when the fund uses derivatives for purposes
other than hedging, it will hold enough cash and
securities to fully cover its position in the
derivative.
The fund may hold cash or cash equivalent securities,
government bonds or investment grade corporate
bonds for strategic or tactical reasons or as collateral
against derivative positions noted below. The fund
may also invest in exchange-traded funds and closedend funds.
To the extent that the fund holds fixed income and
equity securities directly, it may enter into securities
reverse repurchase transactions.
The fund may also engage in short-selling as
sold short, the portfolio advisor will use the same
short selling as a complement to the fund’s discipline
The reference fund invests primarily in companies
throughout the world that have the potential for
growth and value in their industry and then considers
the impact of economic trends. The portfolio advisor
to the reference fund will actively manage the equity,
fixed income, and cash components of the fund. The
reference fund is not limited to how much it invests
in each asset class or geographic mix. This will vary
The portfolio
advisor to the reference fund decides how much of
the reference fund’s assets are invested in equity and
fixed income securities according to market
conditions.
The reference fund’s equity portion includes equities
that are expected to distribute income. Equity
investments may include common shares, preferred
shares, real estate investment trusts (REITs), royalty
trusts, and similar high-yielding investments.
The portfolio advisor to the reference fund may use
techniques such as underlying fundamental analysis
to assess growth and value potential. This means
evaluating the financial condition and management of
each company, its industry and the overall economy.
As part of this evaluation, the portfolio advisor to the
reference fund:


sources


portfolio advisor to the reference fund considers
whether the investment is a good value relative to its
current price.
Fixed income securities may include investmentgrade corporate and government fixed income
securities throughout the world. The reference fund
may also invest in corporate bonds that have a belowinvestment grade credit rating or are unrated, but
floating rate debt instruments. The reference fund
may also invest in emerging market bonds. These
investments may be denominated in or have exposure
to foreign currencies. The portfolio advisor to the
108 - Part B
reference fund will select the maturity of each
investment according to market conditions. The
reference fund may also invest in exchange-traded
funds and closed-end funds.
The portfolio advisor to the reference fund may also
choose to use warrants and derivatives such as
options, futures, forward contracts and swaps to:

of the reference fund’s investments and from

The reference fund also may engage in short selling
as permitted by securities regulations. In determining
sold short, the portfolio advisor to the reference fund
will use the same analysis that is described above for
deciding whether to purchase the securities. The
reference fund will engage in short selling as a
complement to the reference fund’s current primary
discipline of buying securities with the expectation
that they will appreciate in market value. For a more
detailed description of short selling and the limits
within which the reference fund may engage in short
The reference fund may enter into securities lending


Since the fund and reference fund invest in equity
and fixed income securities, it is affected by the
following risks:

credit risk

equity risk

interest rate risk


liquidity risk.
The fund also has capital depreciation risk, emerging
market risk and large redemption risk.
If the fund or the reference fund invests in foreign
securities or uses derivatives, that portion of the
fund’s assets may also be affected by:

currency risk

derivatives risk


forward agreement risk

forward counterparty risk.
To the extent that the fund or the reference fund
enters into securities lending transactions, repurchase
transactions or reverse repurchase transactions, the
fund has securities lending risk.
If the fund or the reference fund engages in short
selling, the fund also has short selling risk.
fund.



109 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class F
Class O
1
year
($)
23.88
22.34
12.71
1.74
3
years
($)
75.27
70.42
40.06
5.49
5
years
($)
131.93
123.44
70.21
9.63
10
years
($)
300.31
280.98
159.82
21.91
Additional Information
The fund’s forward agreement will expire on January
24, 2017 and the fund will no longer use a forward
securities or other mutual funds to which the fund
currently links its returns. The following information
regarding the fund will change as follows, effective
January 24, 2017:
The fund’s objective is to generate income by
investing, directly or indirectly, in fixed income and
high-yielding equity securities throughout the world.
Indirect investments can include derivatives and
investments in other mutual funds.
economic trends. The portfolio advisor will actively
manage the equity, fixed income, and cash
components of the fund. The fund is not limited to
how much it invests in each asset class or geographic
mix. This will vary according to market conditions.
The portfolio advisor decides how much of the fund’s
assets are invested in equity and fixed income
securities according to market conditions.
The fund’s equity portion includes equities that are
expected to distribute income. Equity investments
may include common shares, preferred shares, real
estate investment trusts (REITs), royalty trusts, and
similar high-yielding investments.
underlying fundamental analysis to assess growth and
value potential. This means evaluating the financial


sources


Fixed income securities may include investmentgrade corporate and government fixed income
invest in corporate bonds that have a belowinvestment grade credit rating or are unrated, but
currencies. The portfolio advisor will select the
maturity of each investment according to market
conditions. The fund may also invest in exchangetraded funds and closed-end funds.
The fund may invest in cash or cash equivalent
securities or government bonds for strategic reasons.
110 - Part B


foreign currencies
sold short, the portfolio advisor to the fund will use
the same analysis that is described above for deciding
whether to purchase the securities. The fund will
engage in short selling as a complement to the fund’s
current primary discipline of buying securities with
the expectation that they will appreciate in market
value. For a more detailed description of short selling
and the limits within which the fund may engage in
short selling, please refer to “Specific information
document” on page 55 in Part A of the simplified
prospectus.


Since the fund invests in equity and fixed income

credit risk

equity risk

interest rate risk


liquidity risk.
derivatives, that portion of the fund’s assets may also
be affected by:

currency risk

derivatives risk

reverse repurchase transactions, the fund has
short selling risk.
fund.
111 - Part B
CI Income Fund
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
The investment objective of this fund is to provide
exposure to a diversified portfolio of incomegenerating securities in a manner that is similar to
holding multiple income-generating funds. The fund
invests primarily in investment grade fixed income
securities issued by governments and corporations in
Canada and globally. The fund may also invest up to
50% in other income generating securities such as
preferred shares, common shares and real estate
investment trusts. The fund’s investments will be
made primarily through investments in other mutual
funds, either directly or by entering into derivatives,
and the fund may directly hold securities from time to
time.
The fund invests primarily in investment grade fixed
income securities issued by governments and
corporations in Canada and globally. The fund may
also invest up to 50% in other income generating
securities such as preferred shares, common shares
and real estate investment trusts.
fundamental analysis to assess investment
Income fund
October 5, 2010
July 29, 2015
December 5, 2014
October 5, 2010
October 5, 2010
July 26, 2013
Eligible
CI Investments Inc
1832 Asset Management L.P.
evaluation, the portfolio advisor to the fund analyzes:

financial data and other information sources

credit ratings

the expected direction of interest rates and yield
curves

the quality of management

credit risk and terms to maturity
The portfolio advisor may use derivatives such as
options, futures, forward contracts and swaps to:

protect against losses from changes in interest
rates and the prices of its investments, and from

Derivatives will be used by the fund only as
permitted by securities regulations.
The fund also may enter into securities lending
This document provides specific information about the CI Income Fund. It should be read in conjunction with the rest of the simplified
112 - Part B
CI Income Fund
the fund’s assets in cash and cash equivalent
securities.


equity risk


interest rate risk


liquidity risk

sector risk

sold short, the portfolio advisor to the fund uses the
same analysis that is described above for deciding
prospectus.


short selling risk.
fund.


you want a single diversified income solution as
the fixed-income component of a larger,
diversified investment portfolio

you are investing for the short and/or medium
term

you can tolerate low risk.
The fund is affected by the following risks:


concentration risk

credit risk

currency risk

derivatives risk
113 - Part B
CI Income Fund
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
19.06
21.01
10.55
10.66
0.00
1.74
3
years
($)
60.09
66.22
33.27
33.60
0.00
5.49
5
years
($)
105.32
116.08
58.32
58.89
0.00
9.63
10
years
($)
239.73
264.22
132.76
134.04
0.00
21.91
114 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Diversified income
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
Eligible
CI Investments Inc.

the expected direction of interest rates and yield
curves

the quality of management
The fund’s investment objective is to preserve
capital, generate stable returns, and give direct
exposure to U.S. dollar-denominated securities by
investing primarily in a diversified portfolio of
income-generating assets domiciled in the United
States.
Income generating assets may include
government bonds, corporate bonds, high-yield
bonds, preferred shares, common shares and real
estate investment trusts.

credit risk and terms to maturity.
In order to achieve its objectives, the fund invests
primarily in investment grade fixed income securities
issued by governments and corporations in the United
States. The fund may also invest in other incomegenerating securities such as high-yield bonds,
preferred shares, common shares and real estate
investment trusts.
such as fundamental analysis to assess investment
evaluation, the portfolio advisor to the fund analyzes:


credit ratings
portfolio advisor will consider the valuations and
correlations of various asset classes and optimize a
portfolio on an on-going basis to achieve the
investment objective. Sub-advisors will be used to
select individual securities to fill the asset classes.
The portfolio advisor to the fund may use derivatives
such as options, futures, forward contracts and swaps
to:


Derivatives will be used by the fund only as
permitted by securities regulations.
simplified prospectus). The fund may also invest in
exchange-traded funds.
The fund also may enter into securities lending
This document provides specific information about the CI U.S. Income US$ Pool. It should be read in conjunction with the rest of the simplified
115 - Part B
the fund’s assets in cash and cash equivalent
securities.

liquidity risk

sector risk

The fund may also engage in short selling as
sold short, the portfolio advisor to the fund uses the
prospectus.
approximately 18.54%, 20.39% and 40.43%,


short selling risk.
fund.

you want a fund with diversified investments in
U.S. fixed-income and income-generating equity
markets with potential for modest capital growth

you prefer to maintain a portion of your assets
denominated and invested in U.S. dollars to
avoid converting U.S. dollars to Canadian dollars
and back again

you want an ongoing source of monthly U.S.
dollar income

you are planning to hold your investment for the
short and/or medium term and can tolerate low
investment risk.

credit risk

currency risk

derivatives risk

equity risk


interest rate risk

You must pay for units of the fund in U.S. dollars.
When you sell your units, we will pay you in U.S.
dollars. All distributions are also paid in U.S. dollars.
At the time of purchase, you must designate a U.S.
dollar bank account to receive payments.
prospectus.
116 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
17.32
15.06
9.22
11.78
0.00
1.74
3
years
($)
54.59
47.49
29.07
37.15
0.00
5.49
5
years
($)
95.69
83.24
50.96
65.12
0.00
9.63
10
years
($)
217.82
189.47
116.00
148.22
0.00
21.91
117 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
The fund seeks to generate income and capital
appreciation by investing primarily in a diversified
portfolio of corporate bonds rated BBB- and above
by a recognized bond rating agency, issued anywhere
in the world.
Global fixed income
December 29, 2014
December 29, 2014
July 29, 2015
December 29, 2014
December 29, 2014
December 29, 2014
Eligible
economic, political and market trends, and a bottomup company and security level analysis to assess a
company’s ability to generate cash and meet interest
and principal payment obligations on its debt
securities. The portfolio manager focuses on a
company’s industry position, operating leverage,
management strength and experience, historical
earnings and future projections, liquidity profile and
accounting ratios and practices.

The portfolio advisor will invest primarily in
Canadian, U.S. and European corporate bonds that
are rated BBB- or above by a recognized bond rating
agency. The portfolio advisor will use fundamental
analysis as well as actively manage the portfolio to
generate incremental returns, and will focus on the
fund’s four tenets of capital preservation, high quality
credit investments, liquidity and active currency
management.
The fund may invest in convertible debt, bank loans,
sovereign government bonds and other incomegenerating securities. The fund may also invest up to
10% of the portfolio in high-yield corporate bonds
rated BB- and above.
The fund will be well-diversified by industry and
geography to reduce portfolio risk and may from time
to time deploy limited hedging of interest rates and
credit spreads.
The portfolio advisor uses a combination of top-down
macroeconomic analysis involving the assessment of

foreign currencies,

directly;

prospectus); and

hold cash or cash equivalent securities or
government bonds for strategic reasons.
This document provides specific information about the CI Investment Grade Bond Fund. It should be read in conjunction with the rest of the
118 - Part B
Canadian securities laws.


short selling risk.
fund.

are seeking monthly income


prospectus.


credit risk

currency risk

derivatives risk

equity risk


interest rate risk

liquidity risk.
Distribution policy
distribute the excess each December. If the fund earns
less than the amount distributed, the difference is a
return of capital. For more information, see “Specific
119 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
17.52
13.94
8.20
11.78
0.00
1.74
3
years
($)
55.24
43.93
25.84
37.15
0.00
5.49
5
years
($)
96.82
77.01
45.30
65.12
0.00
9.63
10
years
($)
220.40
175.29
103.11
148.22
0.00
21.91
120 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Portfolio advisor
This fund’s objective is to earn income at the highest
rate of return that is consistent with preserving capital
and maintaining liquidity.
It invests primarily in money market instruments that
mature in less than 365 days. These include:

short-term debt obligations issued or guaranteed
by the governments of Canada, any province or
any agency of these governments

commercial paper and other high quality shortterm debt obligations of Canadian corporations
and Canadian chartered banks.
The portfolio advisor selects securities that it believes
have a fundamental value that is not reflected in their
credit rating and yield.
analyzing:
Canadian money market fund
October 1, 1990
July 27, 2011
July 29, 2015
December 18, 2001
December 18, 2001
July 27, 2011
August 29, 2003
trust
Eligible
CI Investments Inc.

financial data and other information sources.
price.
The portfolio advisor may also choose to invest up to
5% the fund’s assets in foreign securities.
repurchase transactions, to the extent permitted by the
the fund (see “What does the fund invest in?” on
page 55 in Part A of the simplified prospectus).
The fund seeks to maintain a constant unit price of
$10, but there is no guarantee that the price will not
change.
Since the fund invests primarily in Canadian money
market instruments, it is affected by the following
risks:

short-term interest rates and yield curves

credit risk

the impact of economic trends on interest rates
and economic growth

interest rate risk.

the credit rating and risk of the issuer
This document provides specific information about the CI Money Market Fund. It should be read in conjunction with the rest of the simplified
121 - Part B
fund.


you are investing for the short term

Fees and
expenses payable
over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
7.79
6.15
6.25
7.79
0.00
0.00
7.89
3
years
($)
24.55
19.38
19.71
24.55
0.00
0.00
24.87
5
years
($)
43.03
33.97
34.54
43.03
0.00
0.00
43.60
10
years
($)
97.96
77.33
78.62
97.96
0.00
0.00
99.24
Distribution policy
The fund calculates income and credits it to
unitholders at the end of each business day. The fund
distributes income monthly. Any amount that has
been credited but not paid out is automatically
reinvested in additional units of the fund, unless you
ask to receive your distributions in cash if the fund is
If the fund earns any capital gains, it will distribute
them each December. For more information, see
“Specific information about each of the mutual funds
described in this document – Distribution policy” on
page 57 in Part A of the simplified prospectus.
This document provides specific information about the CI Money Market Fund. It should be read in conjunction with the rest of the simplified
122 - Part B
Fund details
Fund type
Date started
Class A
Class I
Type of securities
Portfolio advisor
This fund’s objective is to earn income at the highest
rate of return that is consistent with preserving capital
and maintaining liquidity.
It invests primarily in money market instruments that
mature in less than 365 days. These include:

short-term debt obligations issued or guaranteed
by the governments of the United States, any
state or any agency of these governments

short-term debt obligations denominated in U.S.
dollars and issued or guaranteed by the
governments of Canada, any province or any
agency of these governments

commercial paper and other high quality shortterm debt obligations of U.S. or Canadian
companies denominated in U.S. dollars.
have a fundamental value that is not reflected in their
The portfolio advisor may also analyze:

short-term interest rates and yield curves

the impact of economic trends on interest rates
and economic growth

the credit rating and risk of the issuer

financial data and other information sources.
US money market fund
January 30, 1995
July 4, 2016
Class A and I units of a mutual fund trust
Eligible
CI Investments Inc.
price.
repurchase transactions, to the extent permitted by the
the fund (see “What does the fund invest in?” on
page 55 in Part A of the simplified prospectus).
The fund seeks to maintain a constant unit price of
U.S. $10, but there is no guarantee that the price will
not change.
Since the fund invests primarily in market
instruments denominated in U.S. dollars, it is affected
by the following risks:

credit risk

currency risk

interest rate risk.
This document provides specific information about the CI US Money Market Fund. It should be read in conjunction with the rest of the simplified
123 - Part B
fund.



Distribution policy
The fund calculates income and credits it to
unitholders at the end of each business day. The fund
distributes income monthly. Any amount that has
been credited but not paid out is automatically
reinvested in additional units of the fund, unless you
ask to receive your distributions in cash if the fund is
If the fund earns any capital gains, it will distribute
them each December. For more information, see
Fees and
expenses
payable over
Class A
Class I
1
year
(US$)
3.38
3
5
years
years
(US$)
(US$)
10.66
18.69
Not available
10
years
(US$)
42.53
This document provides specific information about the CI US Money Market Fund. It should be read in conjunction with the rest of the simplified
124 - Part B
Fund Details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
The fund's investment objective is to invest primarily
in investment grade debt of corporate issuers
throughout the world. The fund may also invest in
securities that the portfolio advisor believes offer
higher relative yield and an opportunity for capital
appreciation, including corporate bonds that have a
below-investment grade credit rating or are
unrated, preferred shares, convertible bonds, floating
rate debt instruments, emerging market bonds and
exchange-traded funds. The fund may also hedge
interest rate risk.
The portfolio advisor will assemble and maintain a
core portfolio of primarily investment grade debt
based on sound fundamental principles and will then
actively manage the portfolio to generate incremental
returns. The fund may also invest in corporate bonds
that have a below-investment grade credit rating or
are unrated, but offer a higher yield than investment
grade bonds. It may also invest in, convertible bonds,
floating rate debt instruments, emerging market
bonds and exchange-traded funds. The fund may also
hedge interest rate risk. It is expected that returns
shall be generated through a combination of interest
income, trading income and capital gains.
Global fixed income fund
June 20, 2013
June 20, 2013
July 29, 2015
June 20, 2013
June 20, 2013
June 20, 2013
Eligible
Lawrence Park Asset Management Ltd.
the context of the global fixed-income market. It will
select securities that it believes would outperform in
the medium term.
The portfolio advisor will ensure the portfolio
remains well diversified across issuer, sector, and
market, and shall strive to maintain a high degree of
liquidity by investing primarily in securities which
are widely traded by multiple dealers.
The portfolio advisor uses technical and fundamental
analysis to assess asset price potential, including
comparing to similar securities in the same market, in
different markets, across the maturity spectrum and in
the context of the issuer’s overall capital structure.
As part of this evaluation, the portfolio advisor
analyzes:

the economies of countries and regions


the yield of various terms to maturity

the issuer’s credit rating and risk.
a good value relative to its current price, and whether
investment capital can be better deployed while still
maintaining the overall objectives of the portfolio.
The portfolio advisor shall seek to minimize any
exposure to currency fluctuations from investing in
foreign securities through judicious use of currency
spot and forward contracts.
The portfolio advisor uses a relative value approach
to identify securities which appear under-valued in
This document provides specific information about the Lawrence Park Strategic Income Fund. It should be read in conjunction with the rest of
125 - Part B






fund’s investments

on page 55 of Part A of the simplified
prospectus).
temporarily hold cash, cash-equivalent and
Since the fund invests primarily in fixed income
securities around the world, it is affected by the
following risks:
in?” on page 55 of the simplified prospectus).

credit risk

currency risk
does the fund invest in?” on page 55 of the simplified
prospectus).

derivatives risk

equity risk

selling, please refer to “What does the fund invest
in?” on page 55 of Part A of the simplified
prospectus.

interest rate risk


liquidity risk

short selling risk

gains if units are held in a non-registered account. It
fund.
126 - Part B



on page 57 of the simplified prospectus.
Distribution policy
For more
Distribution policy” on page 57 of Part A of the
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
22.44
15.58
9.84
11.99
0.00
1.74
3
years
($)
70.75
49.10
31.01
37.80
0.00
5.49
5
years
($)
124.00
86.07
54.36
66.25
0.00
9.63
10
years
($)
282.27
195.91
123.73
150.80
0.00
21.91
127 - Part B
Fund details
High Yield Fixed Income
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
February 13, 2014
February 13, 2014
July 29, 2015
February 13, 2014
February 13, 2014
February 13, 2014
Eligible
strength and experience, historical earnings and
future projections, liquidity profile and accounting
ratios and practices.
The fund seeks to generate income and capital
appreciation by investing in a diversified portfolio of
primarily North American high-yield corporate
bonds.

The portfolio advisor will invest primarily in North
American corporate bonds that are rated BBB or
below by a recognized bond rating agency. The
portfolio advisor will use fundamental analysis as
well as actively manage the portfolio to generate
incremental returns. The portfolio advisor will also
invest in convertible debt, bank loans and other
income-generating securities.
The fund will be well-diversified across industries to
mitigate default risk and may from time to time
deploy limited hedging of interest rates, credit
spreads and currency.
securities.
The portfolio manager focuses on a company’s
industry position, operating leverage, management


directly;

transactions, to the extent permitted by securities
regulations to earn additional income for the
fund; and

hold cash or cash equivalent securities,
This document provides specific information about the Marret High Yield Bond Fund. It should be read in conjunction with the rest of the
128 - Part B




credit risk

currency risk

derivatives risk


interest rate risk

liquidity risk.
fund.

want to receive monthly income


Distribution policy
For more
redemption risk.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
21.93
16.29
8.30
12.19
0.00
1.84
3
years
($)
69.13
51.36
26.17
38.44
0.00
5.81
5
years
($)
121.17
90.03
45.86
67.38
0.00
10.19
10
years
($)
275.82
204.93
104.40
153.38
0.00
23.20
short selling risk.
This document provides specific information about the Marret High Yield Bond Fund. It should be read in conjunction with the rest of the
129 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
February 13, 2014
February 13, 2014
July 29, 2015
February 13, 2014
February 13, 2014
February 13, 2014
Eligible
securities.
The portfolio advisor focuses on a company’s
The fund’s objective is to generate income by
primarily investing in a diversified portfolio of highyield corporate bonds that are expected to have
durations of one to five years and other incomeproducing securities throughout the world.



directly;
The portfolio advisor will focus primarily on
corporate bonds with maturities under five years and
those trading to call dates under three years and that
are rated BBB or below by a recognized bond rating
agency. The portfolio advisor will also invest in
senior floating rate loans and other short maturity
convertible or preferred securities.
The fund will be widely diversified by industry
groupings and may from time to time deploy limited
hedging strategies to mitigate interest rate, credit
spread and currency risk. The portfolio advisor will
strive to maintain a high degree of liquidity by
investing primarily in securities which are widely
traded by multiple dealers.

fund; and

This document provides specific information about the Marret Short Duration High Yield Fund. It should be read in conjunction with the rest of
130 - Part B


short selling risk.
fund.

want to receive monthly income

are investing for the short and/or medium term

Distribution policy


credit risk

currency risk
For more

derivatives risk


interest rate risk

liquidity risk.
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
19.06
16.91
8.30
12.19
0.00
1.74
3
years
($)
60.09
53.30
26.17
38.44
0.00
5.49
5
years
($)
105.32
93.43
45.86
67.38
0.00
9.63
10
years
($)
239.73
212.67
104.40
153.38
0.00
21.91
This document provides specific information about the Marret Short Duration High Yield Fund. It should be read in conjunction with the rest of
131 - Part B
Fund details
Diversified Income
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
February 13, 2014
February 13, 2014
July 29, 2015
February 13, 2014
February 13, 2014
February 13, 2014
Eligible
The fund seeks to generate income and long term
capital appreciation by investing in a diversified
portfolio of debt and income-oriented equity
securities throughout the world.
The fund will employ a fundamental value approach
to investing in a diversified portfolio of primarily
debt and income-oriented equity securities.
securities.
The portfolio manager focuses on a company’s



directly;
To achieve its objective, the portfolio advisor will
actively manage the equity, fixed income and cash
how much it invests in each geographic region. This
will vary according to market conditions. The
portfolio advisor decides how much of the fund’s

Equity securities may include common shares that
pay or are expected to pay dividends, preferred shares
and convertible preferred shares, investment trusts
and other high-yielding equity securities, royalty
trusts and real estate investment trusts (REITs).
fund; and

grade bonds, convertible bonds, high-yield corporate
debt that is rated BBB or below by a recognized bond
rating agency, and government bonds.
This document provides specific information about the Marret Strategic Yield Fund. It should be read in conjunction with the rest of the
132 - Part B
redemption risk.




credit risk

currency risk

derivatives risk

equity risk


interest rate risk


liquidity risk.
short selling risk.
fund.

are seeking income and the potential for capital
appreciation


Distribution policy
For more
133 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
23.88
23.16
11.68
12.71
0.00
1.74
3
years
($)
75.27
73.01
36.83
40.06
0.00
5.49
5
years
($)
131.93
127.97
64.55
70.21
0.00
9.63
10
years
($)
300.31
291.29
146.93
159.82
0.00
21.91
134 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Portfolio advisor
Canadian fixed income fund
January 20, 1993
July 27, 2011
December 5, 2014
August 8, 2000
November 1, 2001
July 27, 2011
August 29, 2003
trust
Eligible
CI Investments Inc.

monetary policy in Canada, the U.S. and other
major industrialized countries

market conditions and investor sentiment.
return.
This includes evaluating the expected supply and
demand for bonds and the current stage of the
economic cycle to determine whether the difference
between yields on different terms to maturity will be
widening or narrowing.
It invests primarily in fixed income securities of
Canadian governments and companies that the
portfolio advisor believes offer an attractive yield and
the opportunity for capital gains.
analyzing:

the expected direction of interest rates

the yield curve, which is an evaluation of the
relative value between various terms to maturity
The fund may invest in a wide range of securities
including government and corporate bonds and
debentures, stripped bonds, mortgage-backed
securities, asset-backed securities, bank loans and
floating rate debt instruments. Corporate securities
are diversified and carefully analyzed for
creditworthiness.



expected performance relative to other types of
fixed income securities.
swaps, futures, forward contracts and swaps to:

foreign currencies
The portfolio advisor also assesses:

the rate of economic growth

inflationary pressures
This document provides specific information about the Signature Canadian Bond Fund. It should be read in conjunction with the rest of the
135 - Part B


directly.

repurchase
transactions
and
reverse
repurchase transactions, to the extent
permitted by the securities regulations, to
earn additional income for the fund (see
“What does the fund invest in?” on page 55
in Part A of the simplified prospectus)
cash-equivalent
prospectus).


Since the fund invests primarily in Canadian fixed
risks:

credit risk

interest rate risk.
affected by:

currency risk

derivatives risk

redemption risk.
short selling risk.
fund.


term

136 - Part B
Distribution policy
The fund expects to distribute any net income
monthly and any net capital gains each December.
Fees
and expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
17.32
13.42
7.79
11.48
0.00
1.74
11.58
3
years
($)
54.59
42.32
24.55
36.18
0.00
5.49
36.50
5
years
($)
95.69
74.18
43.03
63.42
0.00
9.63
63.98
10
years
($)
217.82
168.84
97.96
144.36
0.00
21.91
145.64
137 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Portfolio advisor
The fund's investment objective is to achieve a yield
advantage by using fundamental value analysis to
evaluate investments. The fund will invest mainly in
fixed income securities that are investment grade and
below investment grade.
The fundamental investment objective of the fund
can only be changed with the approval of a majority
of the votes cast by unitholders at a meeting
specifically to vote on the change of investment
objectives.
The portfolio advisor selects securities whose
fundamental value it believes is not reflected in their
credit ratings and yields. It first identifies companies
that have the long-term ability to generate sufficient
money to service their debt and reinvest in their
business. The portfolio advisor also considers the
impact of economic trends on interest rates and
economic growth.
fundamental analysis to assess cash flow and growth
potential. This means evaluating the financial
condition and management of each issuer, its industry
and the overall economy. As part of this evaluation,
the portfolio advisor analyzes:

December 17, 2001
July 27, 2011
December 5, 2014
July 15, 2003
July 15, 2003
July 27, 2011
August 29, 2003
trust
Eligible
CI Investments Inc.



the quality of management.
The portfolio advisor also conducts company
interviews, where possible.
portfolio advisor also considers whether it is a good
value relative to its current price.
The fund may have significant exposure to securities
which are rated below investment grade or not rated.
The fund may also invest in bank loans and floating
rate debt instruments. The fund may invest primarily
in investment grade securities when, in the portfolio
advisor’s opinion, it would not be prudent under
prevailing market conditions or available investment
opportunities to invest mainly in lower grade
securities.
fund’s assets in foreign securities.
The portfolio advisor also may choose to:

interest rates and yield curves


directly.
This document provides specific information about the Signature Corporate Bond Fund. It should be read in conjunction with the rest of the
138 - Part B


prospectus).
temporarily hold cash or cash equivalent
prospectus).
Since the fund invests primarily in fixed-income
securities, it is affected by interest rate risk and credit
risk.
redemption risk.
affected by:

currency risk

derivatives risk



short selling risk.
fund.



139 - Part B
Distribution policy
Fees
and expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
1
year
($)
21.62
13.53
7.89
11.99
0.00
1.64
13.01
3
years
($)
68.16
42.64
24.87
37.80
0.00
5.17
41.03
5
years
($)
119.47
74.74
43.60
66.25
0.00
9.06
71.91
10
years
($)
271.96
170.13
99.24
150.80
0.00
20.62
163.69
140 - Part B
Signature Diversified Yield Fund*
Fund details
Fund type
Date started
Class A
Class E
Class F
Class I
Class O
Type of securities
Portfolio advisor
Diversified Income
November 10, 2009
July 27, 2011
November 11, 2009
November 11, 2009
July 27, 2011
Eligible
CI Investments Inc.
The fund’s objective is to generate a high level of
income by investing, directly or indirectly, in fixed
throughout the world. Indirect investments can
include derivatives and investments in other mutual
funds.
economic trends. The portfolio advisor will actively
manage the equity, fixed income, and cash
how much it invests in each asset class or geographic
mix. This will vary according to market conditions.
Equity investments may include common shares,
preferred shares and real estate investment trusts
(REITs), royalty trusts, and similar high yielding
investments.
underlying fundamental analysis to assess growth and
value potential. This means evaluating the financial


sources


conditions.
This document provides specific information about the Signature Diversified Yield Fund*. It should be read in conjunction with the rest of the
141 - Part B
The fund may invest in cash or cash equivalent
securities or government bonds for strategic reasons.


foreign currencies


securities, the fund is affected by the following risks:

credit risk

equity risk

interest rate risk


liquidity risk
be affected by:

currency risk

derivatives risk

short selling risk.
fund.



142 - Part B
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class F
Class I
Class O
1
year
($)
23.88
22.34
12.50
0.00
1.74
3
years
($)
75.27
70.42
39.41
0.00
5.49
5
years
($)
131.93
123.44
69.08
0.00
9.63
10
years
($)
300.31
280.98
157.24
0.00
21.91
143 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
The fundamental investment objective of Signature
Diversified Yield II Fund is to generate a high level
of income through exposure to a portfolio of fixed
economic trends. The portfolio advisor to the fund
will actively manage the equity, fixed income, and
cash components of the fund. The fund is not limited
to how much it invests in each geographic region.
This will vary according to market conditions. The
portfolio advisor to the fund decides how much of the
fund’s assets are invested in equity and fixed income
investments.
Diversified Income
February 14, 2011
August 29, 2012
December 5, 2014
February 14, 2011
June 15, 2011
August 29, 2012
Eligible
CI Investments Inc.
growth and value potential. This means evaluating
the financial condition and management of each
part of this evaluation, the portfolio advisor to the
fund:


sources


portfolio advisor to the fund considers whether the
price.
offer a higher yield than investment grade bonds. At
no time will the fund invest more than 50% of its
assets in non-investment grade corporate debt,
meaning corporate debt rated below BBB. It may also
invest in bank loans, convertible bonds and floating
rate debt instruments. The fund may also invest in
emerging market bonds. These investments may be
denominated in or have exposure to foreign
currencies.
This document provides specific information about the Signature Diversified Yield II Fund. It should be read in conjunction with the rest of the
144 - Part B
The portfolio advisor to the fund may also choose to
use warrants and derivatives such as options, futures,

foreign currencies

securities laws. See “Underlying fund risk.” In

management style



calibre of reporting procedures

funds.
certain risks. See “Securities lending risk.” The fund
will limit these transactions to parties that have, in the
opinion of the Manager and its portfolio advisor,
adequate resources and financial strength.
145 - Part B
mutual funds described in this document” on page
55 in Part A of the simplified prospectus.




credit risk

currency risk


equity risk


interest rate risk



liquidity risk.
may also be affected derivatives risk.
short selling risk.
fund.

you are seeking income and the potential for
modest capital appreciation

term

prospectus.
Distribution policy
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
23.88
22.54
11.27
12.50
0.00
1.74
3
years
($)
75.27
71.07
35.54
39.41
0.00
5.49
5
years
($)
131.93
124.57
62.28
69.08
0.00
9.63
10
years
($)
300.31
283.56
141.78
157.24
0.00
21.91
146 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
This fund’s objective is to generate a high level of
dividend income and to preserve capital. It invests
primarily in preferred shares and dividend paying
common shares of Canadian companies. It may also
invest in other common shares, fixed income
securities and income trusts. The fund may also
invest in foreign securities.
the potential for growth and value in their industry
and then considers the impact of economic trends.
potential.

sources


Canadian dividend fund
October 29, 1996
July 27, 2011
July 29, 2015
September 28, 2001
July 15, 2003
July 27, 2011
Eligible
CI Investments Inc.
Fixed income securities may include government and
corporate bonds, debentures, notes, certificates of
deposit, bank loans, floating rate debt instruments or
other fixed income securities. The portfolio advisor
selects the maturity of each investment according to
market conditions.




directly.
prospectus).
This document provides specific information about the Signature Dividend Fund. It should be read in conjunction with the rest of the simplified
147 - Part B

cash-equivalent
prospectus).



credit risk

equity risk

interest rate risk

The fund also has large redemption risk and capital
depreciation risk.
affected by:

currency risk

derivatives risk

short selling risk.
fund.

you want to receive dividend income

term

Distribution policy
148 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
19.37
23.77
12.09
13.53
0.00
1.74
3
years
($)
61.06
74.95
38.12
42.64
0.00
5.49
5
years
($)
107.02
131.36
66.81
74.74
0.00
9.63
10
years
($)
243.60
299.02
152.09
170.13
0.00
21.91
149 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
Type of securities
Portfolio advisor
return.
It invests primarily in fixed income and floating rate
securities of governments and companies throughout
the world that the portfolio advisor believes offer an
attractive yield and opportunity for capital gains. The
fund may make large investments in any country,
including emerging markets and emerging industries
of developed markets, and in high yield securities of
developed markets.
August 31, 1992
July 27, 2011
July 29, 2015
August 8, 2000
September 26, 2001
July 27, 2011
August 29, 2003
trust
Eligible
CI Investments Inc.

the yield of various terms to maturity

the issuer’s credit rating and risk.
The portfolio advisor analyzes whether companies
can generate enough cash to service debt and reinvest
into their business over the long-term.

have fundamental value that is not reflected in their
management of an issuer, its industry and the overall
economy. As part of this evaluation, the portfolio
advisor analyzes:

the economies of the countries and regions



directly.

prospectus).

temporarily hold cash, cash-equivalent, equity or
equity-related securities for strategic reasons.
This document provides specific information about the Signature Global Bond Fund. It should be read in conjunction with the rest of the
150 - Part B
prospectus).
The fund has received permission from securities
regulatory authorities to invest and hold up to 35% of
its assets in securities issued or guaranteed by any
government or its agency or by certain supranational
agencies as long as these securities meet or exceed
minimum credit ratings. There is no limit on how
much the fund can invest in securities issued or
guaranteed by Canadian federal or provincial
governments or their agencies, or by the U.S.
government or its agencies.


Since the fund invests primarily in fixed income
securities around the world, it is affected by the
following risks:

credit risk

currency risk



interest rate risk

liquidity risk.
short selling risk.
fund.



151 - Part B
Distribution policy
Fees
and expenses
payable over
1
year
($)
3
years
($)
5
years
($)
10
years
($)
Class A
Class E
Class EF
Class F
Class I
Class O
Insight
21.83
13.73
7.99
13.42
0.00
1.74
14.65
68.81
43.29
25.20
42.32
0.00
5.49
46.20
120.61
75.87
44.17
74.18
0.00
9.63
80.97
274.53
172.71
100.53
168.84
0.00
21.91
184.31
152 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Diversified income fund
December 18, 1996
July 27, 2011
December 5, 2014
December 18, 2001
November 8, 2002
July 27, 2011
Eligible
CI Investments Inc.

This fund’s objective is to generate a high level of
income and long-term capital growth.

sources
It invests primarily in high-yielding equity securities
and Canadian corporate bonds.


the potential for growth and value in their industry
and then considers the impact of economic trends. To
achieve its objective, the portfolio advisor will
actively manage the equity, fixed income, and cash
how much it invests in each asset class. This will
vary according to market conditions. The portfolio
advisor decides how much of the fund’s assets are
invested in equity and fixed income securities
investments from different parts of the world.
Fixed income securities may include foreign
corporate and government fixed income securities.
The fund may invest in corporate bonds that have a
low credit rating or are unrated, but offer a higher
yield than investment grade bonds. It may also invest
in bank loans and floating rate debt instruments.
These investments may be denominated in or have
exposure to foreign currencies. The portfolio advisor
market conditions.

potential.


directly.
This document provides specific information about the Signature High Income Fund. It should be read in conjunction with the rest of the
153 - Part B


prospectus).
cash-equivalent
prospectus).



credit risk

currency risk

equity risk


interest rate risk


liquidity risk.
short selling risk.
fund.



154 - Part B
Distribution policy
from time to time at the manager’s discretion. If the
fund earns more income or capital gains than the
fixed distribution, it will distribute the excess each
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
16.29
21.93
10.55
10.66
0.00
1.64
3
years
($)
51.36
69.13
33.27
33.60
0.00
5.17
5
years
($)
90.03
121.17
58.32
58.89
0.00
9.06
10
years
($)
204.93
275.82
132.76
134.04
0.00
20.62
155 - Part B
Signature High Yield Bond Fund*
Fund details
Fund type
Date started
Class A
Class E
Class F
Class I
Class O
Type of securities
Portfolio advisor
January 9, 2012
August 29, 2012
January 9, 2012
January 9, 2012
August 29, 2012
Eligible
CI Investments Inc.
The fund’s objective is to obtain income and capital
appreciation through exposure to high yield corporate
bonds and other income-producing securities
throughout the world. The fund will obtain this
exposure primarily through a reference fund by
entering into derivatives, but may hold fixed income
and equity securities directly from time to time.
In order to meet its objective, the fund will enter into
one or more forward purchase and sale agreements
(each called a Forward Agreement) with
counterparties (each called a Counterparty). Pursuant
to each Forward Agreement, the fund will agree to
purchase from, or sell to, the relevant Counterparty
on a future date (the Forward Date) a specified
portfolio of Canadian securities (each a Canadian
equity portfolio). The amount paid or delivered by
the Counterparty on the Forward Date will be
determined by reference to the returns of Signature
High Yield Bond II Fund, also called the reference
fund, which is a mutual fund that invests primarily in
high yield corporate bonds and other incomeproducing securities throughout the world. In this
way, the fund’s risks and returns will be similar to
those of its reference fund. During the term of the
Forward Agreements, the fund will pledge its assets
to the Counterparties and pay fees to the
Counterparties. The fund will hold cash directly on
an on-going basis during the term of the Forward
Agreements. The fund will partially settle the
Forward Agreements from time to time prior to the
Forward Date in order to fund redemptions of fund
securities and the payment of expenses and other
liabilities of the fund.
If we use a forward purchase transaction, we will
ensure that (a) the fund’s assets will be comprised
solely of its cash and its forward transaction, and (b)
the fund’s cash will be deposited with and pledged to
the Counterparty as security for performance by the
fund of its obligations under the forward transaction.
The fund is therefore fully exposed to the credit risk
associated with the Counterparty for the cash deposit
and the forward purchase transaction. However, the
Counterparty will pledge securities to the fund or
enter into other similar arrangements to secure the
Counterparty’s obligations under the forward
transaction.
reference fund. Factors such as adherence to the
stated investment mandate, returns, risk-adjusted
return measures, assets, investment management
process, style, consistency and continued portfolio fit
may be considered. In selecting the reference fund,
we assess a variety of criteria including:
This document provides specific information about the Signature High Yield Bond Fund*. It should be read in conjunction with the rest of the
156 - Part B

Management style

Investment performance and style

Risk tolerance levels

Calibre of reporting procedures

Quality of the manager and/or portfolio advisor.
The fund will treat gains and losses on the sale of
securities in the Canadian equity portfolios as capital
gains and losses. Capital gains will be taxed at a
lower rate than if the gains were a different type of
income (such as interest income).
The fund will use derivatives only in compliance with
the securities regulations applicable to mutual funds.
These requirements include that:

the fund will enter into a derivative only if the
counterparty, or an affiliate that has fully and
unconditionally guaranteed the obligations of the
counterparty under the derivative, has an
approved credit rating for this purpose; and

when the fund uses derivatives for purposes
other than hedging, it will hold enough cash and
securities to fully cover its position in the
derivative.
The fund may hold cash or cash equivalent securities,
bonds for strategic or tactical reasons or as collateral
against derivative positions noted below. The fund
may also invest in exchange-traded funds and closedend funds.
To the extent that the fund holds fixed income and
equity securities directly, it may enter into securities
reverse repurchase transactions. The fund may also
engage in short-selling as permitted by securities
regulations. In determining whether securities of a
particular issuer should be sold short, the portfolio
advisor will use the same analysis that is described
above for deciding whether to purchase the securities.
The fund will engage in short selling as a
complement to the fund’s discipline of buying
securities with the expectation that they will
appreciate in market value. For a more detailed
mutual funds described in this document” on page
55 in Part A of the simplified prospectus.
Reference fund
The reference fund’s objective is to obtain income
and capital appreciation by investing in high yield
corporate bonds and other income-producing
securities throughout the world.
The portfolio advisor to the reference fund will focus
primarily on corporate bonds and debt obligations
that are rated BBB or below by a recognized North
American bond rating agency. The portfolio advisor
to the reference fund selects securities whose
fundamental value it believes is not reflected in their
credit ratings and yields. The reference fund may
also invest in bank loans, convertible bonds, floating
rate debt instruments and private placements as
permitted by securities regulations. The reference
fund may also invest in emerging market bonds.
These investments may be denominated in or have
exposure to foreign currencies. The portfolio advisor
to the reference fund will select the maturity of each
investment according to market conditions. The
reference fund may also invest in exchange-traded
funds and closed-end funds.
The portfolio advisor to the reference fund considers
the impact of economic trends on interest rates and
economic growth. The portfolio advisor to the
reference fund may use techniques such as
underlying fundamental analysis to assess growth,
cash flow sustainability and collateral value. This
portfolio advisor to the reference fund:

analyzes credit risk and credit ratings

sources



analyzes interest rates and yield curves.
portfolio advisor to the reference fund considers
whether the investment is a good value relative to its
current price.
157 - Part B
choose to:




prices of the reference fund’s investments
and from exposure to foreign currencies,

directly;
securities regulations to earn additional income
for the reference fund; or
The reference fund also may engage in short selling
as permitted by securities regulations. In determining
sold short, the portfolio advisor to the reference fund
uses the same analysis that is described above for
deciding whether to purchase the securities. The
reference fund will engage in short selling as a
complement to the reference fund’s current primary
discipline of buying securities with the expectation
that they will appreciate in market value. For a more
detailed description of short selling and the limits
within which the reference fund may engage in short


Since the fund and the reference fund invest in equity
and fixed income securities, the fund is affected by

credit risk

equity risk

interest rate risk


liquidity risk.
If the fund or the reference fund invests in foreign
securities or uses derivatives, that portion of the
fund’s assets may also be affected by:

currency risk

derivatives risk


forward agreement risk

forward counterparty risk.
To the extent that the fund or the reference fund
enters into securities lending transactions, repurchase
transactions or reverse repurchase transactions, the
fund has securities lending risk.
If the fund or reference fund engages in short selling,
the fund also has short selling risk.
fund.
158 - Part B
regarding the fund will change as follows, effective
January 24, 2017:

want to receive income


appreciation by investing, directly or indirectly, in
high yield corporate bonds and other incomeproducing securities throughout the world. Indirect
investments can include derivatives and investments
in other mutual funds.
Distribution policy
For more
Fees
and expenses
payable over
Class A
Class E
Class F
Class I
Class O
1
year
($)
21.83
16.81
11.99
0.00
1.74
3
years
($)
68.81
52.98
37.80
0.00
5.49
5
years
($)
120.61
92.86
66.25
0.00
9.63
10
years
($)
274.53
211.38
150.80
0.00
21.91
Additional Information
The fund’s forward agreement will expire on January
24, 2017 and the fund will no longer use a forward
securities or other mutual funds to which the fund
currently links its returns. The following information
corporate bonds and debt obligations that are rated
BBB or below by a recognized North American bond
rating agency. The portfolio advisor selects securities
whose fundamental value it believes is not reflected
in their credit ratings and yields. The fund may also
invest in bank loans, convertible bonds, floating rate
debt instruments and private placements as permitted
by securities regulations. The fund may also invest in
conditions. The fund may also invest in exchange
traded funds and closed-end funds.
The portfolio advisor considers the impact of
economic trends on interest rates and economic
growth. The portfolio advisor may use techniques
growth, cash flow sustainability and collateral value.
This means evaluating the financial condition and
portfolio advisor:


sources



159 - Part B
choose to:




prices of the reference fund’s investments
and from exposure to foreign currencies,

directly;
for the reference fund; or


credit risk

equity risk

interest rate risk


liquidity risk.
be affected by:

currency risk

derivatives risk

fund.

short selling risk.
160 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
appreciation by investing in high yield corporate
bonds and other income-producing securities
corporate bonds and debt obligations that are rated
BBB or below by a recognized North American bond
rating agency. The portfolio advisor selects securities
whose fundamental value it believes is not reflected
in their credit ratings and yields. The fund may also
invest in bank loans, convertible bonds, floating rate
debt instruments and private placements as permitted
by securities regulations. The fund may also invest in
conditions. The fund may also invest in exchangetraded funds and closed-end funds.
The portfolio advisor considers the impact of
economic trends on interest rates and economic
growth. The portfolio advisor may use techniques
growth, cash flow sustainability and collateral value.
This means evaluating the financial condition and
July 26, 2013
July 26, 2013
July 29, 2015
July 26, 2013
July 26, 2013
July 26, 2013
Eligible
CI Investments Inc.
portfolio advisor:


sources






directly;

for the fund; or

This document provides specific information about the Signature High Yield Bond II Fund. It should be read in conjunction with the rest of the
161 - Part B
The fund also may engage in short selling. In
determining whether securities of a particular issuer
should be sold short, the portfolio advisor will use the
and the limits within which the reference fund may
engage in short selling, please refer to “Specific
in this document” on page 55 in Part A of the
be affected by:
short selling risk.



credit risk

equity risk

interest rate risk


liquidity risk.
redemption risk.

currency risk

derivatives risk


fund.

want to receive income


Distribution policy
For more
162 - Part B
Fees
and expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
21.72
16.81
8.30
12.19
0.00
1.74
3
years
($)
68.49
52.98
26.17
38.44
0.00
5.49
5
years
($)
120.04
92.86
45.86
67.38
0.00
9.63
10
years
($)
273.25
211.38
104.40
153.38
0.00
21.91
163 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
This fund’s objective is to provide strong riskadjusted total returns by investing primarily in a
diversified portfolio of preferred shares, from both
Canadian and foreign issuers.
The portfolio advisor aims to identify preferred share
investment in quality, large corporations, which have
shown a history of dividend stability and then
considers the impact of economic trends. According
to market conditions, the portfolio advisor may also
choose to invest up to 10% of the fund’s assets in
fixed-income.
potential. This means evaluating the financial

sources


Diversified income
December 17, 2015
December 17, 2015
December 17, 2015
December 17, 2015
December 17, 2015
December 17, 2015
Eligible
CI Investments Inc.
a good value relative to its current price. Fixed
income securities may include government and
corporate bonds, debentures, notes, certificates of
deposit, bank loans, floating rate debt instruments or
other fixed income securities. The portfolio advisor
market conditions. The portfolio advisor may also
choose to invest the fund’s assets in foreign
securities.


foreign currencies


prospectus).

temporarily hold cash or cash-equivalent
securities for strategic and liquidity reasons.
This document provides specific information about the Signature Preferred Share Pool. It should be read in conjunction with the rest of the
164 - Part B
prospectus). The fund may obtain exposure, on some
or all of its assets, to securities of other mutual funds
(see “What does the fund invest in?” on page 55 in
Part A of the simplified prospectus).


interest rate risk


liquidity risk.
short selling risk.
fund.

you are looking to invest in a core preferred
equity portfolio with the potential for dividend
income and long term capital growth

term



credit risk

currency risk

derivatives risk

equity risk

Distribution policy
165 - Part B
Fees
and expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
17.63
14.14
8.30
9.53
0.00
1.74
3
years
($)
55.56
44.58
26.17
30.04
0.00
5.49
5
years
($)
97.39
78.14
45.86
52.66
0.00
9.63
10
years
($)
221.69
177.87
104.40
119.87
0.00
21.91
166 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
Canadian fixed income fund
February 1, 1977
July 29, 2015
July 29, 2015
November 17, 2000
October 31, 1996
July 26, 2013
Eligible
CI Investments Inc.

This fund’s objective is to provide interest income
and a relatively high level of capital stability. The
fund invests primarily in debt securities of Canadian
issuers maturing in five years or less and in shortterm notes.

emphasizes bonds of high credit quality

may invest a portion of its net assets in
conventional first mortgages (where the amount
of the loan is less than 75% of the value of the
property) and mortgages guaranteed under the
National Housing Act (Canada).

directly.
prospectus)

invests primarily in fixed income securities such
as bonds, debentures and notes issued by
Canadian federal, provincial and municipal
governments and Canadian corporations, and
asset-backed and mortgage-backed securities,
bank loans and floating rate debt instruments.



swaps, futures, forward contracts and swaps to:
cash-equivalent
prospectus).
This document provides specific information about the Signature Short-Term Bond Fund. It should be read in conjunction with the rest of the
167 - Part B


Since the fund invests primarily in Canadian fixed
risks:

credit risk

interest rate risk.
fund.



Distribution policy
Fees
and expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
16.70
13.22
8.10
10.35
0.00
1.74
3
years
($)
52.66
41.67
25.52
32.63
0.00
5.49
5
years
($)
92.30
73.04
44.73
57.19
0.00
9.63
10
years
($)
210.09
166.27
101.82
130.18
0.00
21.91
If the fund engages in short selling, the fund has short
selling risk.
This document provides specific information about the Signature Short-Term Bond Fund. It should be read in conjunction with the rest of the
168 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
This fund’s objective is to provide strong riskadjusted returns by investing in a diversified portfolio
of fixed-income instruments. The fund will invest
primarily in a diversified portfolio of government,
corporate, and high-yield fixed-income securities,
from both Canadian and foreign issuers.
Diversified income
December 17, 2015
December 17, 2015
December 17, 2015
December 17, 2015
December 17, 2015
December 17, 2015
Eligible
CI Investments Inc.
The fund will be well-diversified by asset class,
industry and geography to reduce portfolio risk and
may from time to time deploy limited hedging of
interest rates and credit default swaps.
securities.

have fundamental value that is not reflected in their
credit rating and yields.
The portfolio advisor will actively allocate the
portfolio between the following asset classes:

Cash & short-term instruments

Canadian sovereign debt

Foreign developed market sovereign debt

Investment-grade corporate bonds

High-yield and emerging markets sovereign
bonds (maximum 25%)

Preferred equity (investment grade) – (maximum
25%)
Overall credit rating for the fund will be maintained
as BBB or higher.

foreign currencies


prospectus).

temporarily hold cash or cash-equivalent or
government bonds for strategic reasons.
This document provides specific information about the Signature Tactical Bond Pool. It should be read in conjunction with the rest of the
169 - Part B
mutual fund, and exchange-traded funds, provided
such investment is consistent with the fund’s
objective and is permitted by Canadian securities
laws.



liquidity risk.
short selling risk.
fund.


term


credit risk

currency risk

derivatives risk



interest rate risk

Distribution policy
170 - Part B
Fees
and expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
17.63
13.94
8.10
9.53
0.00
1.74
3
years
($)
55.56
43.93
25.52
30.04
0.00
5.49
5
years
($)
97.39
77.01
44.73
52.66
0.00
9.63
10
years
($)
221.69
175.29
101.82
119.87
0.00
21.91
171 - Part B
Fund details
Asset allocation fund
Fund type
Date started
Class A
Class AT5
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT5
Class FT8
Class I
Class O
Class OT5
Class OT8
Type of Securities
November 9, 1988
September 28, 2007
September 28, 2007
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
November 17, 2000
September 28, 2007
September 28, 2007
October 31, 1996
July 26, 2013
July 29, 2015
July 29, 2015
Class A, AT5, AT8, E, ET5, ET8, EF, EFT5, EFT8, F,
FT5, FT8, I, O, OT5 and OT8 units of a mutual fund
trust
CI Investments Inc.
Portfolio advisor
This fund’s objective is to provide a balance between
income and long-term capital growth while
diversifying risk by investing in income and equity
mutual funds.
strategies, past performance and historical volatility
in the context of a diversified holding of underlying
funds suitable for the investment objective of the
fund.
The portfolio advisor:

invests the assets of the fund in units or shares of
the underlying funds

rebalances the fund’s assets among the
underlying funds based on the fund’s target asset
allocations

The portfolio advisor uses strategic asset allocation as
the principal investment strategy to create a portfolio
diversified by investment style, asset class and
geographic region. This generally includes Canadian
equity, U.S. equity, international equity, Canadian
fixed income and global fixed income securities.
monitors the underlying funds on an ongoing
basis and may make changes to the underlying
funds, or allocated percentages of the underlying
funds without notice to unitholders.
This fund may use derivatives such as options,
futures, forward contracts, forward agreements and
swaps to:
In determining the fund’s target asset allocations, the
portfolio advisor considers, among other factors, each
underlying fund’s investment objective and

This document provides specific information about the Portfolio Series Balanced Fund. It should be read in conjunction with the rest of the
172 - Part B

gain exposure to securities and markets instead
of buying the securities directly.
prospectus).


Pursuant to exemptive relief received from the
Canadian securities authorities, the portfolio advisor
may invest up to 10% of the fund’s net asset value,
determined at the time of purchase, in CI Cambridge
All Canadian Equity Fund and CI Cambridge
International Equity, each a pooled fund managed by
CI Investments Inc.
This fund has the same risks as those of its
underlying funds, namely:

credit risk

currency risk

derivatives risk


equity risk


interest rate risk


liquidity risk


share class risk

short selling risk

small capitalization risk


you want capital growth and income while
diversifying risk


you want to invest in an optimized portfolio of
equity and income funds

Class AT5, AT8, ET5, ET8, EFT5, EFT8, FT5, FT8,
OT5 and OT8 units are suitable for investors who are
173 - Part B
prospectus.
Distribution policy
capital gains each December. Such distributions
are automatically reinvested without charge in
In addition, holders of Class AT5, AT8, ET5, ET8,
EFT5, EFT8, FT5, FT8, OT5 and OT8 units will
receive regular monthly cash distributions. See
Fees and
expenses
payable over
Class A
Class AT5
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT5
Class FT8
Class I
Class O
Class OT5
Class OT8
1
year
($)
24.90
24.70
24.70
22.44
23.16
23.26
11.07
11.78
11.78
12.40
12.09
12.09
0.00
1.74
1.74
1.84
3
years
($)
78.50
77.85
77.85
70.75
73.01
73.33
34.89
37.15
37.15
39.09
38.12
38.12
0.00
5.49
5.49
5.81
5
years
($)
137.59
136.46
136.46
124.00
127.97
128.53
61.15
65.12
65.12
68.51
66.81
66.81
0.00
9.63
9.63
10.19
10
years
($)
313.20
310.62
310.62
282.27
291.29
292.58
139.20
148.22
148.22
155.96
152.09
152.09
0.00
21.91
21.91
23.20
174 - Part B
Fund details
Fund type
Date started
Class A
Class AT5
Class AT6
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT8
Class I
Class O
Class OT5
Class OT8
Type of securities
December 17, 2001
September 28, 2007
July 26, 2012
September 28, 2007
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
December 18, 2001
September 28, 2007
June 29, 2005
July 26, 2013
July 29, 2015
July 29, 2015
Class A, AT5, AT6, AT8, E, ET5, ET8, EF, EFT5,
EFT8, F, FT8, I, O, OT5 and OT8 units of a mutual
fund trust
CI Investments Inc.
Portfolio advisor
fund.
This fund’s objective is to provide long-term capital
growth by investing directly in other mutual funds
managed by CI.


allocations

swaps to:

This document provides specific information about the Portfolio Series Balanced Growth Fund. It should be read in conjunction with the rest of
175 - Part B

prospectus).


CI Investments Inc.

credit risk

currency risk

derivatives risk


equity risk


interest rate risk


liquidity risk


share class risk

short selling risk


As of June 30, 2016, one investors owned

you want moderate long-term capital growth


Class AT5, AT6, AT8, ET5, ET8, EFT5, EFT8, FT8,
176 - Part B
prospectus.
Distribution policy
In addition, holders of Class AT5, AT6, AT8, ET5,
ET8, EFT5, EFT8, FT8, OT5 and OT8 units will
Fees and
expenses
payable over
Class A
Class AT5
Class AT6
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT8
Class I
Class O
Class OT5
Class OT8
1
year
($)
25.11
24.90
24.70
24.70
22.65
23.26
23.26
11.58
11.58
11.78
13.83
14.14
0.00
1.74
1.84
1.84
3
years
($)
79.15
78.50
77.85
77.85
71.39
73.33
73.33
36.50
36.50
37.15
43.61
44.58
0.00
5.49
5.81
5.81
5
years
($)
138.73
137.59
136.46
136.46
125.14
128.53
128.53
63.98
63.98
65.12
76.44
78.14
0.00
9.63
10.19
10.19
10
years
($)
315.78
313.20
310.62
310.62
284.85
292.58
292.58
145.64
145.64
148.22
174.00
177.87
0.00
21.91
23.20
23.20
177 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of Securities
November 17, 1997
July 26, 2012
July 29, 2015
July 29, 2015
November 17, 2000
November 17, 1997
July 26, 2013
trust
CI Investments Inc.
Portfolio advisor

allocations
This fund’s objective is to provide a balance between
income and capital growth at lower than average
levels of volatility by investing in income and equity
mutual funds.

swaps to:
fund.



prospectus).
This document provides specific information about the Portfolio Series Conservative Fund. It should be read in conjunction with the rest of the
178 - Part B




you want income and growth with lower than
average volatility


CI Investments Inc.


credit risk

currency risk

derivatives risk


equity risk


interest rate risk


liquidity risk


share class risk

short selling risk
regular tax-efficient monthly cash distributions. This
class of units cannot be purchased by investors who
are investing through a registered plan.
Distribution policy
regular monthly cash distributions. For more
179 - Part B
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
1
year
($)
23.77
23.26
22.54
10.76
12.30
0.00
1.74
3
years
($)
74.95
73.33
71.07
33.92
38.77
0.00
5.49
5
years
($)
131.36
128.53
124.57
59.45
67.95
0.00
9.63
10
years
($)
299.02
292.58
283.56
135.33
154.67
0.00
21.91
180 - Part B
Fund details
Fund type
Date started
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
Type of securities
December 17, 2001
July 26, 2012
July 29, 2015
July 29, 2015
December 18, 2001
June 29, 2005
July 26, 2013
trust
CI Investments Inc.
Portfolio advisor

allocations
This fund’s objective is to provide a conservative
total return with lower than average volatility by
investing directly in other mutual funds managed by
CI.

swaps to:
fund.



prospectus).
This document provides specific information about the Portfolio Series Conservative Balanced Fund. It should be read in conjunction with the
181 - Part B




you want returns with lower than average
volatility


CI Investments Inc.
Distribution policy

credit risk

currency risk

derivatives risk


equity risk


interest rate risk


liquidity risk


share class risk

short selling risk

182 - Part B
Fees and
expenses
payable over
Class A
Class AT6
Class E
Class EF
Class F
Class I
Class O
1
year
($)
25.21
24.80
22.34
11.58
13.94
0.00
1.74
3
years
($)
79.47
78.18
70.42
36.50
43.93
0.00
5.49
5
years
($)
139.29
137.03
123.44
63.98
77.01
0.00
9.63
10
years
($)
317.07
311.91
280.98
145.64
175.29
0.00
21.91
183 - Part B
Fund details
Fund type
Date started
Class A
Class AT5
Class AT6
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT8
Class I
Class O
Class OT5
Class OT8
Type of securities
December 18, 2001
September 28, 2007
July 26, 2012
September 28, 2007
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
December 18, 2001
September 28, 2007
October 9, 2002
July 26, 2013
July 29, 2015
July 29, 2015
Class A, AT5, AT6, AT8, E, ET5, ET8, EF, EFT5,
EFT8, F, FT8, I, O, OT5 and OT8 units of a mutual fund
trust
CI Investments Inc.
Portfolio advisor
fund.
This fund’s objective is to provide long-term capital
growth by investing directly in other mutual funds
managed by CI.


allocations

swaps to:

This document provides specific information about the Portfolio Series Growth Fund. It should be read in conjunction with the rest of the
184 - Part B

prospectus).


CI Investments Inc.

credit risk

currency risk

derivatives risk


equity risk


interest rate risk


liquidity risk


share class risk

short selling risk



you want long-term capital growth

term

Class AT5, AT6, AT8, ET5, ET8, EFT5, EFT8, FT8,
185 - Part B
Distribution policy
In addition, holders of Class AT5, AT6, AT8, ET5,
ET8, EFT5, EFT8, FT8, OT5 and OT8 units will
Fees and
expenses
payable over
Class A
Class AT5
Class AT6
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT8
Class I
Class O
Class OT5
Class OT8
1
year
($)
25.00
24.59
25.52
25.00
23.98
24.49
24.49
12.81
12.81
12.81
13.94
14.14
0.00
1.74
1.84
1.84
3
years
($)
78.82
77.53
80.44
78.82
75.59
77.21
77.21
40.38
40.38
40.38
43.93
44.58
0.00
5.49
5.81
5.81
5
years
($)
138.16
135.89
140.99
138.16
132.50
135.33
135.33
70.78
70.78
70.78
77.01
78.14
0.00
9.63
10.19
10.19
10
years
($)
314.49
309.33
320.93
314.49
301.60
308.05
308.05
161.11
161.11
161.11
175.29
177.87
0.00
21.91
23.20
23.20
186 - Part B
Fund details
Fund type
Date started
Class A
Class E
Class EF
Class F
Class I
Class O
Type of securities
Portfolio advisor
November 17, 1997
July 29, 2015
July 29, 2015
November 17, 2000
November 17, 1997
July 26, 2013
Eligible
CI Investments Inc.

This fund’s objective is to emphasize income by
investing primarily in income-oriented mutual funds.
The fund may also invest in equity mutual funds to
achieve modest capital appreciation.
fund.


allocations
swaps to:


prospectus).
The fund may hold a small portion of its net assets in
cash or short-term debt securities.
This document provides specific information about the Portfolio Series Income Fund. It should be read in conjunction with the rest of the
187 - Part B


CI Investments Inc.

credit risk

currency risk

derivatives risk


equity risk


interest rate risk


liquidity risk


share class risk

short selling risk


fund.

you want income with some potential for capital
growth



Distribution Policy
document – Distribution policy” on page 57 in Part
A of the simplified prospectus
188 - Part B
Fees and
expenses
payable over
Class A
Class E
Class EF
Class F
Class I
Class O
1
year
($)
20.60
22.65
11.37
12.19
0.00
1.74
3
years
($)
64.93
71.39
35.86
38.44
0.00
5.49
5
years
($)
113.81
125.14
62.85
67.38
0.00
9.63
10
years
($)
259.07
284.85
143.07
153.38
0.00
21.91
189 - Part B
Fund details
Fund type
Date started
Class A
Class AT5
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT8
Class I
Class O
Class OT5
Class OT8
Type of securities
December 18, 2001
September 28, 2007
September 28, 2007
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
July 29, 2015
December 18, 2001
September 28, 2007
June 29, 2005
July 26, 2013
July 29, 2015
July 29, 2015
Class A, AT5, AT8, E, ET5, ET8, EF, EFT5, EFT8, F,
FT8, I, O, OT5 and OT8 units of a mutual fund trust
CI Investments Inc.
Portfolio advisor

This fund’s objective is to provide above-average
long-term capital growth by investing directly in
other mutual funds managed by CI.

allocations

equity, U.S. equity and international equity securities.
fund.
swaps to:


prospectus).
This document provides specific information about the Portfolio Series Maximum Growth Fund. It should be read in conjunction with the rest of
190 - Part B


interest rate risk


liquidity risk


share class risk

short selling risk





you want above-average
growth

term
CI Investments Inc.


credit risk

currency risk

derivatives risk


equity risk
long-term capital
Class AT5, AT8, ET5, ET8, EFT5, EFT8, FT8, OT5
and OT8 units are suitable for investors who are
Distribution policy
191 - Part B
In addition, holders of Class AT5, AT8, ET5, ET8,
EFT5, EFT8, FT8, OT5 and OT8 units will receive
Fees and
expenses
payable over
Class A
Class AT5
Class AT8
Class E
Class ET5
Class ET8
Class EF
Class EFT5
Class EFT8
Class F
Class FT8
Class I
Class O
Class OT5
Class OT8
1
year
($)
25.00
26.13
24.80
22.85
24.49
24.49
11.89
12.81
12.81
13.83
14.24
0.00
1.74
1.84
1.84
3
years
($)
78.82
82.38
78.18
72.04
77.21
77.21
37.47
40.38
40.38
43.61
44.90
0.00
5.49
5.81
5.81
5
years
($)
138.16
144.39
137.03
126.27
135.33
135.33
65.68
70.78
70.78
76.44
78.71
0.00
9.63
10.19
10.19
10
years
($)
314.49
328.67
311.91
287.42
308.05
308.05
149.51
161.11
161.11
174.00
179.16
0.00
21.91
23.20
23.20
192 - Part B
CI Investments Inc.
2 Queen Street East
Twentieth Floor
Toronto, Ontario
M5C 3G7
You can find additional information about each fund in its annual information form, fund facts, management reports
of fund performance and financial statements. These documents are incorporated by reference into this simplified
prospectus. That means they legally form part of this document just as if they were printed in it.
You can get a copy of these documents at your request and at no cost by calling 1-800-792-9355, by emailing
[email protected], or by asking your representative.
These documents and other information about the funds, including information circulars and material contracts, are
also available at the CI Investments Inc. website at www.ci.com, or at www.sedar.com.
CI Funds
CI Investments Inc.
2 Queen Street East
Twentieth Floor
Toronto, Ontario
M5C 3G7
You can find additional information about each fund in its annual information form, fund facts, management reports of fund performance and financial
statements. These documents are incorporated by reference into this simplified prospectus. That means they legally form part of this document just as if
they were printed in it.
You can get a copy of these documents at your request and at no cost by calling 1-800-792-9355, by emailing [email protected], or by asking your representative.
These documents and other information about the funds, including information circulars and material contracts, are also available at the CI Investments Inc.
website at www.ci.com, or at www.sedar.com.
Black Creek Funds
Cambridge Funds
CI Funds
Harbour Funds
Portfolio Series Funds
Signature Funds
Synergy Funds
2 Queen Street East, Twentieth Floor, Toronto, Ontario M5C 3G7 I www.ci.com
Head Office / Toronto
416-364-1145
1-800-268-9374
Calgary 403-205-4396
1-800-776-9027
Montreal 514-875-0090
1-800-268-1602
Vancouver 604-681-3346
1-800-665-6994
Client Services English: 1-800-563-5181
CI_PRO_08/16E

2016 Simplified Prospectus – dated July 27, 2016

Transcription

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