Mutual fund sales rise in June, outpace ETFs, IFIC reports
New PM’s strategy is expected to result in a potentially meaningful capital gains distribution
The firm is also renaming certain mutual funds and eliminating the O series of nine funds
The fund uses a variety of tax-management strategies to maximize returns
Both products are available in mutual fund and ETF versions
ETF versions are expected in the coming weeks
The move will officially retire CI’s legacy boutique investment brands
The firm has also lowered fees and changed the investment objectives of existing funds
The planned fund merger will take place on June 25
According to IFIC, mutual funds had net sales of $8.4 billion, while ETFs had $7.6 billion