CI Mutual Funds Inc. has announced portfolio management changes to nine Synergy mutual funds, effective immediately. The changes follow the acquisition of Synergy Asset Management Inc. by CI on October 6.

CI says the changes reflect the departure from CI of former Synergy portfolio managers Andrew McCreath and Suzann Pennington and CI’s decision to end Synergy’s sub-advisory relationships with Pictet International Management Ltd. and Thornburg Investment Management, Inc.

“With these portfolio management changes, we have combined Synergy’s strong franchise with CI’s existing pool of talented and experienced managers,” said Peter Anderson, president and CEO.

Anderson said CI intends to continue to use the Synergy name. “We will be positioning the Synergy brand to represent the Canadian and global momentum funds and the multi-style, multi-manager funds that are an important part of the Synergy lineup. These funds will be under the direction of long-time Synergy portfolio managers David Picton and Michael Mahoney.”

David Picton, senior VP, portfolio management with CI’s Synergy Funds group, replaces Andrew McCreath as lead manager of Synergy Canadian Growth Class. Picton also manages Synergy Canadian Momentum Fund.

Kim Shannon, president of Sionna Investment Managers Inc. and lead manager of CI Canadian Investment Fund, replaces Suzann Pennington as manager of Synergy Canadian Value Class.

James Dutkiewicz, VP, portfolio management with CI’s Signature Funds group, becomes portfolio manager of Synergy Canadian Short-Term Income Class, replacing Pennington, and of Synergy Global Short-Term Income Class, replacing Michael Mahoney, VP, portfolio management with CI’s Synergy Funds group.

Dutkiewicz is also portfolio manager of Signature Corporate Bond Fund. Mahoney continues as manager and co-manager of several Synergy equity funds.

Eric Bushell replaces Pennington as manager of Synergy Canadian Income Fund. Bushell, chief investment officer of CI’s Signature Funds group and senior VP, portfolio management of CI, will manage the fund with the assistance of Signature portfolio managers Ben Cheng and Dutkiewicz. Bushell is also portfolio manager of the award-winning Signature Select Canadian Fund and Signature Dividend Fund.

John Hock, chief investment officer of Altrinsic Advisors, LLC and manager of CI Global Value Fund, assumes the management of Synergy Global Value Class, replacing William Fries of Thornburg Investment Management

Shannon and Robert Tattersall, president of Howson Tattersall Investment Counsel Ltd. and manager of CI Canadian Small Cap Fund, become co-managers of Synergy Canadian Style Management Class and Synergy Tactical Asset Allocation Fund, replacing McCreath and Pennington.

Dutkiewicz also becomes a co-manager of Synergy Tactical Asset Allocation Fund. Picton and Peter Hodson, who is now VP, portfolio management in CI’s Signature Funds group, continue as co-managers of these two funds.

Hock of Altrinsic and William Priest of Steinberg, Priest & Sloane Capital Management, LLC become part of the management team of the Synergy Global Style Management Class, replacing McLaughlin of t and. Fries of Thornburg. Continuing in their roles as co-managers of this fund are Picton and Mahoney of CI and Jim Gendelman and Tom Marsico of Marsico Capital Management, LLC.

The changes also indirectly affect the Synergy Global Value RSP Fund and the Synergy Global Style Management RSP Fund, whose underlying funds are Synergy Global Value Class and Synergy Global Style Management Class, respectively.