CI Mutual Funds Inc. announced today that it has successfully completed the merger of 33 mutual funds.

“We have reduced duplication within our lineup while maintaining our industry-leading selection of funds,” said CI president Peter Anderson, in a news release. “More importantly, the mergers have created larger, more efficient funds, which will lead to savings for unitholders.”

The mergers follow the July acquisition of Spectrum Investment Management Limited, Clarica Diversico Ltd. and the segregated fund businesses of Clarica Life Insurance Company and Sun Life Assurance Company of Canada.

Unitholders of the funds approved the mergers at meetings held on October 10, 2002, in Toronto. The mergers became effective at the close of the business day on October 11, 2002.

For a detailed list of terminated funds and their replacements, please see the news release.