CI Mutual Funds Inc. announced Friday that it has received permission from the Canadian securities regulators for funds it manages to invest in common shares of its parent company, CI Fund Management Inc.

“Fund investors benefit when their portfolio managers have the widest possible choice of investments within the mandate of the fund,” said Peter Anderson, CI president and CEO in a release.

CI has established an independent review committee (IRC) comprised of William Harding, Stuart Hensman, Stephen Moore and Sharon Ranson. Each member of the IRC is independent of CI in that none has a direct or indirect relationship with the funds, CI, or any entity related to CI.

The IRC will review, at least every calendar quarter, the decisions made on behalf of each fund to trade or hold shares of CI and to form an opinion whether such decisions were in the best interests of the fund.

All members of the IRC currently are members of the board of governors of the mutual funds managed by CI and, as such, are paid a fixed annual fee, which is allocated to all mutual funds under CI’s management. There is no intention to pay the members of the IRC any compensation in addition to their usual compensation as members of the Board of Governors.