CI Investments Inc. announced Friday portfolio management changes affecting CI Canadian Small/Mid Cap Fund, CI Canadian Asset Allocation Fund, Synergy Canadian Style Management Corporate Class, Synergy Tactical Asset Allocation Fund and Select Canadian Equity Managed Corporate Class.

These appointments, which will be effective on November 20, 2006, are in all cases to replace Sionna Investment Managers Inc.

James Lawson and David Picton of Synergy Asset Management have been named lead portfolio managers of CI Canadian Small/Mid-Cap Fund. Synergy is an independent Toronto-based firm with approximately $3.8 billion in assets under management.

Lawson has been a Canadian equity portfolio manager for 12 years and specializes in small and mid-capitalization stocks. Prior to joining Synergy, he was a senior member of the investment management team at KBSH Capital Management Inc. He has also managed retail and institutional portfolios at Guardian Capital and Bank of Montreal. His other business experience includes eight years as a strategy consultant.

Picton is president of Synergy Asset Management and lead portfolio manager of a number of Synergy funds, including Synergy Canadian Corporate Class. Picton has been lead portfolio manager of Synergy Canadian Corporate Class since its inception in 1997. His experience also includes eight years as a top-ranked analyst and head of quantitative research at RBC Dominion Securities.

“Synergy has a strong team and a well-defined investment approach that has been successfully applied across the Canadian and global equity markets,” said Peter Anderson, CEO of CI. “We are pleased to bring Synergy’s expertise to CI Canadian Small/Mid Cap Fund.”

Eric Bushell, chief investment officer of CI’s Signature Advisors portfolio management group, has been appointed lead portfolio manager of CI Canadian Asset Allocation Fund. Signature Advisors manages over $19 billion on behalf of CI in a variety of equity, income and balanced mandates. Bushell is an award-winning manager whose balanced funds include Signature Canadian Balanced Fund and the income-oriented Signature Income & Growth Fund.

Under the direction of Bushell and Portfolio Manager James Dutkiewicz, Signature has been managing the income portion of CI Canadian Asset Allocation Fund’s portfolio since 2002. Income securities currently account for about 40% of the fund’s assets.

Synergy Canadian Style Management Corporate Class and Synergy Tactical Asset Allocation Fund are multi-manager, multi-style funds for which the lead portfolio manager is Picton of Synergy. Those portions of the two funds that have been managed by Sionna will be allocated to the Synergy team and to Daniel Bubis, president and chief investment officer of Tetrem Capital Partners Ltd.

In addition, Sionna has been terminated as a co-manager of Select Canadian Equity Managed Corporate Class, a multi-manager, multi-style fund that is part of the Portfolio Select Series program. Sionna’s share of the portfolio will be assigned to Tetrem, which already manages a portion of the portfolio. CI also announced previously, on October 10, 2006, that Bubis had been named lead portfolio manager of CI Canadian Investment Fund and CI Canadian Investment Corporate Class to replace Sionna.