Toronto-based CI Investments Inc. announced Monday that it is merging 30 of its investment funds.

In a release, CI said the mergers would reduce duplication in its lineup and “create larger, more efficient funds.”

According to the release, investors in the terminating funds will receive the equivalent dollar value of securities in the corresponding continuing funds. The continuing funds, in most cases, will have similar mandates and the same portfolio management teams as the terminating funds.

CI said that in all cases, investors will pay management and administration fees that are equal to or lower than those of the funds being terminated. CI is bearing the costs and expenses of merging the funds.

Some mergers require regulatory and securityholder approval. Meetings to vote on these mergers have been scheduled for Nov. 11, 2019.

The mergers are expected to take effect on or after Nov. 22, 2019.

CI is also renaming 19 funds — many of which are the continuing funds of those being terminated — “to clarify the mandate of each fund and/or the portfolio management team responsible for the mandate.”

For a complete list of affected funds, see CI’s press release.