CI Investments to automatically apply fee discounts for eligible investorsBy The IJ Staff | March 15 2017 09:45AM
CI Investments plans to launch two new automatic preferred pricing programs, CI Preferred Pricing and CI Private Wealth, which will provide eligible investors with automatically applied fee discounts. The programs are set to launch in May 2017.
"We want to ensure that clients automatically receive preferred pricing upon reaching certain thresholds. It's a simple concept – the more assets that clients invest with CI, the larger the price discount that is applied," said Roy Ratnavel, senior vice-president of CI in an announcement March 14.
Discounts generally start at $150,000 invested
The price discounts will apply to investment management and administration fees on CI's core mutual fund offerings in Class A (initial sales charge), Class F and a newly created Class P. Also, for Evolution Private Managed Accounts, price discounts will apply to investment management and administration fees for the United Funds' Class E (initial sales charge) and a newly created Class F. Existing Class F in the United Funds will be renamed Class OF.
Closures announced for next fall
Price discounts usually start at $150,000 per account level and rise depending on client asset levels. Extended family groups with aggregate asset levels of $250,000 or more can be linked for pricing purposes.
CI also announced that Class E, EF and O units and shares of CI Funds will be closed to new investors in early fall 2017.