CI Financial Income Fund says that its transfer agent is in receipt of proxies representing more than 68% of outstanding fund units and almost 88% of Limited Partnership units to be voted concerning its proposals to convert the fund to a corporation and to adopt a unitholder rights plan.

More than 95% of the proxies submitted are voted in favour of these proposals, CI said Wednesday.

“We appreciate the support of CI’s unitholders for this vitally important change,” said Bill Holland, CEO. “As a corporation, CI will be better positioned for growth and for taking advantage of acquisition opportunities. The company’s future will no longer be affected by the uncertainties of the income trust market and the severe limits to growth that have been imposed on trusts.”

The special meeting of unitholders will be held on Friday, Dec. 19 in Toronto to consider the proposals.

Implementation of the conversion is subject to court approval and, assuming receipt of the necessary approvals, will occur on Jan.1, 2009.