(October 30 – 18:40 ET) – CI Funds and Toronto Mutual Life Insurance Co. announced today that CI Segregated Funds will be closed to new investment effective December 31.

The capping of the six segregated funds means that no new contracts will be accepted and existing policyholders will not be able to make additional contributions to their accounts after December 31. The funds were launched in October 1997.

CI and Toronto Mutual will continue to fully support the existing contracts. The guarantees will remain in effect for the life of the contracts. The reset provisions are not affected. CI says the segregated funds, which invest in underlying CI mutual funds, will continue to benefit from its portfolio management teams.
-IE Staff