The Securities Commission has granted CI Investments Inc. (the Filer) an extension for the renewal of prospectuses for certain funds under its management. The decision allows for a 127-day extension for the prospectuses of CI Global Minimum Downside Volatility Index ETF, CI U.S. Minimum Downside Volatility Index ETF, and CI Utilities Giants Covered Call ETF, and a 161-day extension for CI Canadian Banks Covered Call Income Corporate Class, CI Energy Giants Covered Call Fund, CI Gold+ Giants Covered Call Fund, and CI Tech Giants Covered Call Fund.
The Filer sought these extensions to align the prospectus renewal dates with those of other funds under its management, thereby consolidating the renewal process and reducing associated costs. The Filer argued that renewing the prospectuses separately would be impractical and costly, and that no material changes have occurred that would affect the accuracy of the current prospectuses.
The Commission agreed with the Filer’s reasoning and granted the extensions without conditions, citing that the exemptions would not compromise the accuracy of the information in the prospectuses or be prejudicial to the public interest.
The decision was made under subsection 62(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended, which allows for such extensions, and was supported by the Filer’s compliance with securities legislation and the absence of defaults. The Filer also committed to amending the prospectuses should any material changes occur. The extensions facilitate the Filer’s plan to streamline its fund offerings and maintain consistency across its fund platforms.