CI Investments Inc. today announced the successful merger of 16 mutual funds and the termination of 38 RSP funds.

“With the mergers and the winding up of the RSP funds, we have dramatically streamlined our lineup and reduced costs for investors, while continuing to offer them a comprehensive selection of investment options,” said Pete Anderson, CI president and CEO, in a release.

The mergers, which were approved by the funds’ securityholders at special meetings held in Toronto on July 28, resulted in the combination of funds with similar investment mandates. All of the terminating funds had the same portfolio manager as the respective continuing fund.

For a complete list of the merged funds, please refer to the news release.

The termination of the RSP funds follows royal assent of the federal budget that eliminated foreign property restrictions. CI terminated the forward agreements on its RSP funds on July 5. Unitholders in the RSP funds have now become direct unitholders of the corresponding underlying funds.