Toronto-based CI Investments Inc. announced Friday that the risk rating of CI Investment Grade Bond Fund has been changed to “low” from “low to medium.”

The change will be effective immediately.

“The change results from the application of an industry wide updated risk classification methodology introduced by the Canadian Securities Administrators to determine the risk level of mutual funds, and is not a result of any changes to the investment objectives, strategies or management of the fund,” CI says in a news release.

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.